The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-06
RELIEF FOR THE TREASURY.
A Measure for the Purpose Nav Be
Rushed Through Congress.

hGeAAG0 A Ii OASL SCA4H GS1s
Washington, Nov. 5.-Secretary Car
Isle did not send any intimation Of pub
lie nature to congress. indicating that he
wanted any legislation TO relieve the
| treasury, but it is known that the ways
and means committee have taken into
consideration the state Of the finances of
the treasury, and that possibly il would
| have been able 10 act If a
request had been made. Various
methods have been discussed by the
majority members Of the committee, as it
is shown by conversation with them that
they had in mind different projects
which they were willing to present,
should opportunity offer. II is possible
that the first thing the committee will be
called on to do when congress reassemb les
Will be to put through some urgency
measure for the treasury.
HOW IT MAY BE DONE.
This may be done by increasing the in
ternal revenue taxes for the time being,
by the issuing of bonds, or by another
method, which seems to meet with con-
siderable favor in some quarters.
Between 500, 0O0, 900 and $50, 600
GOO, of United States bonds are
falling due, or will soon be due.
II has been suggested that these bonds
be presented by issuing treasury war
rants. These warrants would have to be
authorized by congress, and although
called warrants, would simply be another
name for green backs. The owner of the
bonds could demand payment in coin, but
this could be supplied by silver or even
gold, as the treasury warrant would
be redeemable in gold the same as
the greenbacks. As long as the govern
ment maintains the parity of all its cur
rencY it would not make any difference to
the bondhOlder whether he received his
money in green backs or silver, which ever
would be discretionary with the Secre-
tarY Of the Treasury. The advisa bility
has been discussed of authorizing the paw
ment of the bonds in these warrants,
thus putting more money in circulation,
and at the same time relieving the situa-
ton in the treasury to a considerable
extent.
If we can exchange our non-interest
obligation for an interest-bearing obliga-
ton" said one of the committee, sit
would be much better thing for the
government. Tt will not make any diff
ference whether we issue these warrants
or issue bonds, so far as redemption is
concerned, as both would have to be re
deemed in gold, except that the warrants
would bear no interest, and the bonds
would The circulation would be in
creased by the government direct, in
stead OF through the national banks. y
Continuing further on the same sub
ject, this member of the committee said,
that either the ways aud means commit
tee, or the committee on banking ana cur
rency, could take action looking to the
carrying out of this proposition, though
II was probable that the matter being in
relation to raising revenue, it would come
before the ways and means committee.
ANOTHER SCHEME DISCUSSED.
Another subject which has been dis
cussed by some members of the latter
committee, is the proposition to author
lie the issue of a certain amount of green
backs to supply the deficiency in reve-
nUes which the tariff reduction will
make, this at least, until it is ascertained
just what amount of revenue is
needed and what the actual
increase or decrease. This is
suggested in view of the fact that as the
currency will not be further increa sed by
the purchase of silver and the issue Of
treasury notes thereon, an increase by
the issue of warrants or green backs
would meet the present deficit in the
treasury, or any deficit that might occur
by reason of tariff reductions
Another member of the majority of the
ways and means committee, said that
there would be no difficulty over the
treasury shortage, and that there were
many ways by which the government
could supply the deficiency without in
creasing the burdens of the people. II
have no doubt" said he, that all the
seignorage will be coined, thus giving the
treasury about S54, 100000 additional
money.