New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-28
CARLISLE AND TIE BANh Eho
OPPOSED TO A GOVERNMENT POND lsSCh
coNDEMNING TIE SILVER r."


op ACTION DECIDED UPON
In accordance with the requ's' U, VI, ~
Of the Treasury he was net l'''' a.
her of prominent bank pieSi"v'' ,;a,'.,oI rr1.
o;aI s;.uotion was informally oiSc"s,e"' me
o"' ,ore,ce was negative in character
-, IL clear that Secretary tarllSc VIII
-, .. an issue Of Government bonds 'N-
-. 49, a q, trerne measure 10 MAINTAIN IN" cre"lt
80 Tho country. but no temporary plan was "eN's'"
.. rnect a possible emergency. Inc sl'ua'io" !,
Ia. whore il was before the alarm mahi's'eu
ovcr the integrity Of gold payments upon 'ie
Treasury notes of 1890, except for the emphatl3
occurrences of President Cleveland that all oph-
,i,o of tLn Nation would he paid in gold
- :; . o,in in the community to learn that the
Administration is unaltcrably opposed to the Sl-
Yer Purchase law but it is to be inferred '"a'
Tho evil effects OF the law will be left to work
mt their own cure; intcrpCsition by thc "o'-
ernment only to he made in case the crei' vi '''e
currency should be assailed
The facts regarding Yesterday important meet
inc were learned with difficulty, owing 10 'he
nolicv Of excessive secrecy adopted by Secretary
Carlisle. He shroudcd all his movements III 'i'i'
direction with mystery and declined 10 see news
onor renrc,entatives The Secretary LIT IN"
Victoria Hotel with the Presidential party wheo
with il 10 the hotel about 30 o'clock. ana Went
n his room Logan {. Murray. formerly pi'H"il'
of the United States National Bank, sent up HIS
card to the secretary and was shown upstairs
Mr. Carlisle did not remain long at IN" holc"
! Edward Simmons, president OF the f"ur'" N"-
tional Bank and one of the Columbian Commute"
of reception. had returned with fresluef' '"''-
land Mr. Carlisle and Mr.. Simmons lett the ho'el
bv n side entrance unohservcd, ana were urlNen
together to the home of George &. Williams preNi-
dent of the Chemical National Bank. where the
Secretary was to confer with the New-iork bank
cls Owing to the postponement OF the naval
review as originally decided upon, thc conference
took nlace later than had been intended. 1t was
about p. m. when the meeting begah' al" '''c
,.u between the Secretary and the bankers
lasted about an hour.
The bou~. of Mr.. Williams WAS selected as the
place for the conference. partly cut oi deier"h''
10 his position as chairman of the Clearing House
Association. which makes him eX-oiliclo member
of the Clearing House Committee Besides NJ.
Simmons there We're present for the Clearing
IIousa Committee Edward II. Perkins, Jr., pr'si-
dent of the Importers and Traders NATIONAL DahN
and chairman of the committee; fr'deflch ~
Tappen, president of the Gallatln Natlonai BANK
and Henry w. Cannon, president OF the 'his'
National Bank. The only absent member oil Inc
committee was William \. Nash. president OF the
Corn Exchange Hank There also were present
James T. Woodward, president OF the Hanover Ma
tional Bank: Byayton Ives. prcsi lent "i the
Western National Bank William w. sherman,
president of the National Bank OF commerce:
Assistant Treasurer Conr d \. jordan ana charles
j. Canda, who was Assistant Treasurer uhdcr MI
Clevelands former Administration.
The meeting was marked by most cordial
h,,l f1o a
Treasury and the New-York bankers No evil
dence was afforded by the Secretary's manner to
sustain the recent rlln0rs from Washington that
he had been carping at the attitude Of the banks
of the metropolis. Each banker personally as
sured Mr.. Carlisle that all the banks OF the city
were willing and anxious TO extend every possible
help 70 the Treasury Department in coping wi'n
the unfortunate state of financial analis. lie
was informed that the banks would assist him at
anv time and in any way which he chose TO adopt
t. sustain the credit of the Government Mr..
Carlisle was extremely cordial in acknowledging
his appreciate ion of this spirit Of cooperation lie
thanked the bankers for their oilers OF support
and expressions of sympathy, and declared that
these gave him more pleasure than anything which
had happened in a long time. No reference was
made 10 the recent proposition Of the AdInihis-
tIation which the banks here had found il mpos-
sble TO accept and there was no discussion of
any Of the notifications or suggestions which the
bankers had made in reply TO Mr. tarllscs ;
original plan for temporary loan Of gold.
Secretary Carlisle then entered upon brief eN-
position OF his views Of the position ana the
needed remedy. lie talked freely and with great
candor and dircctness, and in his general Views
found a substantial support in the sentiment OF
the bank officers present Mr.. Carlisle made a
most favorable impression upon those men who
had never met him intimately, as man OF clear
cut ideas and unusual ability. The Secretary
frankly admitted at the outset that an issue OF
Government bonds was the only practicable
remedy for a thorough solution Of existing dlil-
culies. But lie Likewise expressed his strong re-
puguance to "a bond ISSUE. and left il TO be III
terred that he looked upon it a. the last resource
Mr.. Carlisle advcrtcd 70 the objertion to bond
issue. which has been frequently urged by some
prominent financial men since the currency lu's-
uon Las been under discussion. lie considered
that even under the most successful arrangements
that might be made in carrying ont a bond issue
there was danger that il might disturb the money
markets 10 some extent and excite an uniav0rablc
influence upon the bank reserve. Even slight
derangement of this sort miEht tend 70 aggravdtc
tie difficulties Of the situation But according
10 Mr.. Car'islc's statements his principal objections
rested upon deeper ground He expressed himself
as opposed TO a free use Of the Government credit
at present. because it might tend to impede any
movement for repeal Of the Silver PurclIa act.
If by A large issue of Government bonds feeling
Of false confidence restored the people might
be blinded to the evil consequences of the law and
its repeal might he postponed until it had created
further endorsements in the financial system of
tie country
The position taken by Secretary Carlisle with re
spcci to the socalcd Sherman law wa, most posi-
tive and emphatic His words gave extreme pleasure
TO his hearers however Enpleasantly they wonlI
have sounded in tie ears of senator Voorhees, and
other Democratic advocates of the present silver
pocS. Every banker present felt tia; it was Il
great gain 10 ultimate rccIm to have the Secretary
so clearly place himself record as an opronent of
the existing law. Mr.. Carlisle did not hesitate to