St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-17
CARLISLE HAS The POWER.
ne CAY ISSUE TsNYSA9 THREE P;H
CENT BCN1S
TO RELIEVE THE TREASURY.

Senator Voorhees,. In q Letter to
the Public, Expresses the
Opinion of the Senate Finance
Committce-No Further Leg
islation Is Needed to Protect
the Public Credit.
WASHINGTON, Jan. 16.-A meeting
of the senate finance COMMITTEES was
held this afternoon for the purpose of
considering Secretary Carlisle's letter
and bond bill. After the conclusion Of
the meeting Senator Voorhees,. as chair
man of the committee, handed to an
Associated Press reporter the statement
given below. In making it, he said he
did not assume to represent the views
Of the entire committee, and yet he
knew of no opposition in the committee
to tbs opinions expressed. lie submit
ted his statement to the full committee
before giving it TO the public. 1t Is as
follows:
The embarrassed condition Of the
treasury and the necessity for prompt
ctiOn for its relief are fully realized.
There is not the slightest ground, how
ever. for apprehension that the public
credit will suffer or be endangered, for
the reason that ample authority already
exists by law for the secretary Of the
treasury to strengthen his coin reserve
to any extent required, and to meet
every demand that can be legitimate.
The power of the secretary for the issue
nf lao Nd sal, 10
given by the act of Jan. IA, 1877. The
only desirable object to be attained by
new legislation at this time on that sub.
ject is to make
A SHORTER TIME BOND
with lower rate of interest, and yet
the secretary feels assured that he can
negotiate bonds issued under the act of
1875, running only ten years, on prac-
tically a per cent basis.
''It seems, therefore, that it will be
wiser, safer and better for the financial
and business interests OF the country to
rely upon existing law with which TO
meet the present emergency. rather
than to encounter the delays and uncer-
discussion in the two houses of con-
greSS. This view of the condition of
the treasury admits of but little. if any,
delay,and of no uncertainty at all in the
final action to be taken.
"it would be tritling with very grave
affair to pretend that new legislation
concerning the issue of bonds can be ac-
compliShed at this time and in the
midst of present elements and parties in
public life, with elaborate. extensive
and practically indefinite debate. 1t is
also obvious to every one that the con-
sideratiOn and discussion of the tariff
now going Oh i'll congress will render
any
FINANCIAL LEGISLATION
at this time far more difficult and COM
plicated than it might be under another
and different circumstance.
ut is proper to say in this connection
that the senate finance committee for
several weeks past has had this subject
under almost constant consideration and
that the bill submitted by Mr.. Carlisle
has been examined and discussed with
the greatest care.
The interest of the committee will
by no means be abated from this
time forward. The fact that much re-
mains to be done is fully recognized.
Whatever deficiency in the revenues
may exist during the current fiscal year
WIN NC Pio"PcdS pio' ioou ~. W aPpio-
| pirate and efficient legislation al the
| earliest moment"
The senate finance committee author
| iZe Senator Voorhees, to Introduce the
| Carlisle bill in the senate, and also to
present the letter from the secretary of
the treasury for the consideration of
that body, which was done. This au-
thoriZation as to the introduction of the
bill is not intended to mean, however,
that the committee has decided to make
an effort to pass the bill through the
senate or that it is given further in
dorsement than to allow 1t to be printed
and referred to the committee in the
regular way for consideration.