The herald., 1893-06-09
Congress Must Remedy the
Financial Evils.
Will the Sherman Silver Act
Be Repealed?
There Are Very Conflicting Opinions
on the Question.
Secretary Teller Takes Exceptions to
the Presidents Statement as to
the Necessity of an
Extra Session.

BY the AsE0ciated fress.
WASHINGTON, June 8.-The Star says:
President Cleveland told members OF
congress today that under no circum-
stances would there be an issue OF bonds
unless especially authorized by congress.
The administration, he said, was not
responsible for the present financial
situation and it lay with congress, and
not with the administration, to find a
remedy for it.
CONGRESSMAN TRACEY SPEAKS.
An evening paper has the following:
General Tracey of Albany, who is one OF
the most conspicuous anti-silver leaders
in congress, and who is regarded as one
OF the strongest friends of the admins
tration on the floor OF the house, is in the
city and saw the president today. Gem
eral Tracey says that the Sherman law
will be repealed at the coming session
without the passage of any substit ute
measure or the adoption OF any COM
promise with the free silver men. The
proposition to repeal this law will have
a large majority, he says, in the
house and there are As votes for
it in the senate. He also gave it as his
opinion that the proposed repeal OF the
10 per cent tax on the circulation OF
state banks would fail OF passage. Com
ing from General Tracey, these views
are OF more than ordinary value. He
has carefully studied the situation,
knows every movethst has been made,
and evidently speaks by the card.
DIFFERENT VIEW.
Senator Jones of Arkansas took an
entirely different view from that enter
tanned by General Tracey. "The Sher-
man law can never be repealed In the
senate" said he, "unless some other
measures looking to the coinage OF
silver is substituted. / am opposed to
the Sherman law, and spoke and voted
against 1t, but would not vote for its
repeal unless some other legislation was
enacted favorable to silver. / would be
~s.ssr'S ~ nave srsv. IL plerd cot vn-
enacted, or some measure like 1t, and
would support the repeal of the present
law with that compromise attached.
SENATOR TRLLER's OPINIONS.
DENVER, Colo, June 8.-Senstor Tel
ler, in lengthy letter which will appear
in the Rocky Mountain News tomorrow,
takes strong grounds against President
Cleveland's statement to the Associated
Press that an extra session of congress
ia necessary to repeal the Sherman law.
The senator says the use of silver as
money is q question in which all work
ing men and all producers, of every kind,
are especially interested. 1t 10 fight
for commercial and financial independ-
ence; for the progress, prosperity,
~ 10 70 -xnsx ~
one-hundredths of the race, and in i'm
portance it overshadows and dwsrfs all
questions presented for the consider
| against weaklings, it Is a fight against
control by their wealth the administra-
pulpit, and the unthinking and ignorant
mass OF men who sell their birthright
for the present mess of pottsge.
Senator Teller holds that the existing
| financial stringency does not arise from
the silver law in force, but rather from
the policy of the great monetary institu-
tions of the world toward the systematic
enhancement of the value of gold in re-
lation to all products. He points out
that while the storms rage in England,
Australia, Germany and the Neither
lands, bimetsllic France is serene and
prosperous.
GEORGIA BANKERs' WISHES.
SAVANNAH, Ca, June 8.-The Georgia
Bankers association today passed reso-
lutions calling on Georgia's senators and
representatives in congress to use all
efforts to secure the repeal of the Sher-
man silver law.