The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1893-11-10
a CORRECTION.



WAsHSaroS, Nov. G-Therc seems
10 be a good deal OF misapprchension
as to the meaning of the announce
meni made Immediately after the adj
ioarnmcnt OF congress that Secretary
Carlisle would al once resume the coin
arc Of silver. Many newspapers have
Interpreted this 10 mean that Mr.
Car e intents TO coin at once and put
into circulation the entire amount Of
6clgniorage now IN the treasury.
amounting 70 about ffty-thrce million
silver doliprs
Secretary Carlislo's statement was
eypiigt enough, II would appear 70
pr vent hnch widespread misrepre-
feniatioa What he has proposed 10
90 isfa coin SS OW, 900 month, which
is the full capacity Of the mints, OF the
bullion BOW IN the treasury. OF this
amount approximately, one-third or
about elo11. 900, would be seignioragc.
This 81 600 600 Of monthly seigniorage
can not hoeome an available asset Of
the treasury under section Of the
sherman act until Il has been minted
Probably Secretary Carlisle and Mr.
Clevelsnd are willing enough that their
policy shah be misintcrpreted, as it
has been. because they think Il will
tend 10 check the drift OF Southern
voters away from the democracy 10 the
ranks ~ the populists In this respect
the announcement Of removed coinage
ofsilvei may serve as good enough,
Morgan. until after the elections nest
Tuesday as matter Of fact this
profit to the treasury, amounting TO
only Si 900, 900 month or 1000, 600 a
year VIII be only one-iifth or perhaps
one-siSih % the threatened deficit at
the end Of this fiscal year Of from &c.,
600 900 to ss9 o0o0 600
From this Il is evident that an issue
Of bonds Is inevitable. The way for
such an issue has been cleared by the
opinion prepared last spring, by Attor-
ney General olncy, that tho secretary
ef the treasury has the power TO issue
bonds without further authorization by
congress
The only question now is whether
the administration can postpone bond
issue until after congress has come To-
/ gethcr Ia regular session on December
81 II bonds must hc issued. as now
seems evident the administration
wonld doubtless prefer TO issue them
when the legislative branch Of the gov
ernmcet is in operation. even though
no further authorization by congress
he required This would give tte presi
dent the opportunity, II lee SO desired
Of placing the responsibility upon con
gress by recommending bond issue IL
message,
This week win probably see renewed
activity on the part OF the democrati,
mon,hers Of the ways and means com
mittce Ia their secret preparation o
their tariff bill. Chairman Wilson an,
Secretary Carlisle have had many con
suliations with President Cleveland q
20 this measure during The past week
Ia fact for number Of days Secretar,
Carlisle has given scarcely any atten
tion to the conduct OF the treasury dc
parimcnt, spending almost all Of hi
time with the president considering
the plan of silver coinage which wa
announced last week, methods TO NEE
the deficit In the treasury and the gen
cral outline Of the tarih)meAsnrc
However secretly the ways an,
: means committee may conduct its in
tended star CHAMBER proceedings, pub
+. licity 70 lis conclusions has been as
snrcd by the adoption Of Mr. Reed
amendment TO the Catchings resolu
tion authorizing the ways and mean
committee to hlc its bill and rc
port with the clerk Of th
house during the interval betweeI
? now and the rcassembiug Of cor
gress on December 4 II Mr.. Catching
had been permitted 20 have his way tn
bin and report prepared by the major
/, ity Of the committee would not hay
been revealed TO the country until r,
I ported 10 tho house. Now, however
The majority hill and report, when file
with the clerk, must be made know
20 the republican members OF the con
: mittec who win have ten days to pr,
> al, so thufs. tn ninnrftv ranngt