The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1894-02-11
THE NATIONS CREDIT
Secretary Carlisle Says 1t
Shall Be Maintained.
VIEWS ON THE BOND QUESTION.
He Strongly Objects to Bland's
Scheme for Coming the
Silver SeigniOrage.
VIEWS ON THE BOND QUESTION
Associated Press.

%ASoOSiulSu 1ItSS.
Washington, Feb. 1O.-The strength
developed by Bland's seigniorage bill in
the house leads to the belief that an
other movement will be made for the
unlimited coinage of silver. About 25
republicans are counted in favor of the
seigniorage bill. Some Of them are out
spoken in favor of following up the
measure with a free coinage bill. Some
and-silver men favor the seigniorage
bill because they think it will dispose
of silver for the next five years at the
least.
There is a movement in the house to
urge upon the judiciary committee an
investigation Of the management of the
railroads under the receivers appointed
by the federal courts.
The house committee on judiciary
made a public stenographic report of a
secret hearing before it by Secretary
Carlisle some time ago, in which the
latter's views and policy on the flnan-
cial question are set forth. Carlisle said
that the effect of the coming Of the
seigniorage and issuing of certificates
against that would be that If they came
in for redemption and there were no
dollars behind them, he would be COM
PEELED to redeem them in gold or what
ever else he might have. 1t would take
about two years to coin silver for that
purpose. There was not silver on hand
for that purpose, because the certificates
were issued against the silver already
coined up to within $5,O0O,OOO or S6,0OO,- |
900 to the total. 1t would not do to issue
certificates on uncoined seigniorage, as
they would be greatly discredited in the
public mind. They would call for a sill
yer dollar, but there would be no sill |
yer dollar to redeem them, and 1t might I
become necessary to redeem in gold. If |
all other coinage ceased and the mints
were pushed, it might be possible to
coin $48,000,0OO of silver per year.
On the bond question Carlisle said his
purpose in selling the bonds was to re-
deem United States notes and treasury
notes and replenish the reserve, but he
might be confronted with very seli-
Gus question as to what he would do If
ply the deficiency. Suppose, for instance,
as usual, congress makes appropriation
for pensions to be paid out of any
money in the treasury not otherwise
and suppose the secretary
finds there is no money in the treasury
not otherwise appropriated except the
money realized from the sale of the
bonds, he will be confronted with the
question whether he will stop the pay
nent of pensions, whether he will stop
payments on public buildings, or rivers
narbors, whether he will withhold sal
aries, or use the money in the treasury
not otherwise appropriated. Il believe
t is my duty to pay the pensions and
Ill other public obligations. and unless
stops me l shall do so, while
I stay here" said Carlisle. 81 shall en-
leavor to maintain the credit OF the
government by paying its obligations"
Carlisle also stated his reluctance in
ssuing the bonds, as to the most desir-
lbe kind Of bonds to be issued. He
,aid he favored short-time bonds. with
. low rate of interest in small denom-
nations, which he believed the people
would take who have money in the saw
ngs banks. They could be sold or used
n payment Of expenditures and redeem
d out of future revenues.