The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-10-26
SHERMAN WARNS DEMOCRATS.
Bonds, he Declares, Must be
Issued to Increase the Reserve.
He VIII Propose No Amendment to In.
terfere With the Passage of the Repeal
BiIi--voorhees Says tho Bill WIN be
Passed Unhampered by Any-voorhees
and Gray in Consultation With the
President-The Gold Reserve Shows an
Increase.

WASHINGTON, Oct. 25.-It Is reported
that towards the close of the informal
meeting of the Senate finance commit
tee this morning Sherman called the
attention of his Democratic colleagues
to the, as he termed it. alarming condi.
ton of the treasury.
he referred to the fact that the gold
reserve had been trencbed upon to the
extent of ten millions, the monev being
used for current expenses and not
redemption purposes, as was required
by the law, and asked the Democratic
Senators what they proposed to do to
remedy this condition of affairs.
Sherman asserted that the only thing
that could be done was to issue bonds.
for therein was the only MEASURE pre-
sented to the government to replenish
the exhausted gold reserve.
He emphasized the necessity for this
course, and, when he pressed his as
sociates for an answer, he learned that
there was disposition on their part to
permit the bill to pass as it was repor ted
to the Senate Sherman is said to have
then told the Democrats that there must
be bonds, and that sooner or later tho
Democrats must come to it.
He suggested that there be issued q
total OF 5000, 900, 600. redeemable at the
option OF the Government after five
years and not to draw more than 3 per
cent, $4,000, 600 of this issue he would
put out in denominations OF $50 or
multiples and stipulate that it should
be available for Treasury purposes at
orcs.
IL was maintained that the Secretary
OF the Treasury had the power to
issue bon1s to which Sherman took ex.
ceptions and said that if the Domo.
Gratis did not intend to protect the
gold reserve he would introduce the
amendment himself as he considered
1T matter of the most vital import
ance.
This statement naturally filled the re-
peal men with the gravest apprehen-
slons for the subject of the repeal bill
and they besought Sherman not to take
the step he had in minated and he finally
consented not to take the initiative.
but warned his colleagues that thew
must do something to protect the gold
reserve from further entertainments.
About o'clock Voorhees, and Grav
went alone to the formers room and
after short talk Gray came out and
taking carriage drove at once up town.
1t is said that he went to the White
House. He hardly got out of sight
when Voorhees, came out hurriedly, and
taking carriage was rapidly driven in
the same direction.
Both Senators are supposed to have
seen the President, and both of them
were back in the Senate within an hour.
When asked If he would say anything
about the proposed bond amendment of
Shorman's Voorhees, replied that he ex.
pected to pass the bill as it had been
by him. ut is bill for the
unconditional repeal of the act and will
be passed unhampered by any amend
ment. can only add that any amend.
ment that may be offered by any Sena-
tor will be an indication of his uniriend-
illness for the bill"
Tho Treasury gold reserve is showing
a tendency to increase, standing to-day
at $50, 629, 900.