Waterbury evening Democrat., 1894-01-17
THE NATIONAL FINANCES.
He Says the Secretary OF the Treasury Has
Authority to Strengthen the Gold Re-
servo and Meet Every Demand-Public
Credit Will Not Suffer.

serve and Meet Every Demand-Public
Credit VIII Not Suffer.
WASHINGTON, Jan. IA second meet
ing of the senate finance committee was
held for the purpose of considering Secre-
tary CarlisleiS letter and bond bill. After
the conclusion of the meeting Senator
Voorhees,, as chairman of the committee,
gave out the statement given below. In
making it, he said, he did not assume to
represent the views of the entire commit
tee, and yet he knew of no opposition in
the committee to the opinions expressed.
He submitted his statement to the full
committee before giving it to the public.
1t is as follows:
Senator Voorhees, Statement.
1.-The EN- barrassed condition of the treas
ury and the necessity for prompt action for
its relief are fully realized. There is not
he slightest ground, however, for appre-
hension 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
of bonds needs nothing beyond which is
given by the act of Jan. IA, 1877. The only
desirable object to be attained by new leg
islation at this time on that subject is to
make a shorter time bond with Il lower
rate of interest, and yet the secretary feels
assured that he can negotiate bonds issued
under the act Of 1875, running only 1Oyears
on practically a per cent basis.
ut seems, therefore, that it will be wiser,
safer and better for the financial and bust
ness interests of the country to rely upon
existing laws with which to meet the pres
ent emergency rather than to encounter
the delays and uncertainties always incl
dent to protracted discussion in the two
houses of congress. This view of the con-
dition of the treasury admits of but little
if any delay and of no uncertainty at all in
the final action to be taken.
ut would be trifling with a very grave
affair TO pretend that new legislation con-
corning the issue of bonds can be accom-
plished at this time and in the midst of
present elements and parties in public life
without elaborate, extensive and practi-
cally indefinite debate. 1t is also obvious
to every one that the consideration and
discussion of the tariff now going on in
congress will render any financial legisla-
ton at this time far more difficult and
complicated than it might be under other
and different circumstances.
Have Considered the Bill.
1T is proper to say in this connection
that the senate finance committee for sew
eral weeks past has had this subject under
almost constant consideration and that the
bill submitted By Mr.. Carlisle has been eX-
amined and discussed with the greatest
care
The interest of the committee will by
no means be abated from this time for
ward. The fact that much remains to be
done is fully recognized. Whatever def
cheney in the revenues may exist during
the current fiscal year will be promptly
provided for by appropriate and efficient
legislation at the earliest practicable mo-
ment"