Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-26
Differences Of Opinion as to Treat
ment of the Financial Question.
THE PRESIDENT WANTS ACTION
Some Of His Advisers Suggest a
Procrastinating Policy.
B DINING IMP ATIE N T

| Now that the treasury Is practically in
possession of its coveted $50 OO0, 900 of gold,
and temporary relief from the govern
| ments financial embarrassment is in sight.
the administration is turning to the ques-
| tion What is the next thing to be done to
maintain the public credit and solve the
| financial difficulties which face the govern
| ment? 1t is well understood, of course, by
everybody that the new influx of gold into
| the treasury Is but makeshift and has no
permanent bearing upon the preservation
| of the gold reserve, the maintenance Of
| which Is deemed necessary for the uphold
| ing of the national credit. No one doubts
| for a moment that the diminution Of the
| reserve will begin Immediately. 1t is be-
lieved by many that a large portion Of the
proceeds from the sale of bonds will be
| used for current expenses of the govern
| ment, as there is nothing to hinder, and 1t
| is known that the government Is behind In
| its payments and holding back from enter
| ing into contracts authorized by law be-
| cause of a lack of cash. The question
| which the administration now feels called
upon to solve Is, how to amend the situa-
| ton as to provide against a recurrence
| of the conditions existing at the time of
| this bond sale to prevent the necessity OF
another issue of bonds, and to place the
| fiscal affairs Of the government upon a
permanent, stable basis.
| ~
The imminency of this question has de-
| veloped the fact that there is a pronounced
| disagreement between the President and
his cabinet. or rather portion Of his cab
met, upon the method Of solving the ques-
| ton, arising perhaps from difference OF
| opinion as to the cause of the trouble. 1t
has long been known that some members
of the Presidents cabinet entertained views
upon financial matters diverse from those
| held by their chief, but it is only recently
that those members have arrived at the
point of openly advocating their own plans
in opposition to the expressed opinions of
the President. 1t is said that the diver
gence of opinion has progressed SO rapidly
that the President ana these gentlemen are
now irrevocably apart upon the financial
question.
1t Is understood that the advice which
is to be given Congress by the administra-
tion is likely to be that coming from a
! divided household, and that the financial
factions in Congress Will be represented
| by similar factions in the Presidents
| official family. 1t is believed, as the situa-
| tion now stands, that the President Will
| say one thing publicly to Congress. and
| that some OF his advisers will privately
| advise an opposite course.
| The Presidents Position.
From the information at hand, which
necessarily comes from different sources.
| but which in this instance talies in each
| case, 1t is gathered that the President is
firmly convinced that immediate and radi-
| cal financial legislation is necessary. 1t
| is said that recent events have led him to
believe that under existing conditions the
maintenance Of the gold reserve and the
uphOlding of the national credit Is en-
| tirely at the caprice the self interest or
| the patriotism OF the great moneyed men
and institutions OF the country, and that
| patriotism is an uncertain quantity
when applied to financial corporations with
| dividends to pay quarterly. 1t Is said he
| believes the fact has been demonstrated
| that these interests absolutely control the
national credit and finances through the
| hold which existing law gives.
| The Presidents idea is, according to the
information at hand. that the governments
financial embarraSSmentS may be traced
| to the clamor OF the silver coinage men
| and the intiationists. with their demands
for unlimited issues of currency based upon
silver bullion, together with the opposition
| to the retirement of the currency. He
| thinks the country has had too much of
| this policy already, and although the re.
| peal of the Sherman act gave some relief,
| it was not sufficient for the necessities OF
| the case His idea is to take immediate
action toward recommending remedial legis-
lation.
Suspicious OF the Dissenters.
Right here is where the dissenting men,
bers of his cabinet are said to part COM
pany with him. They want to postpone
radical action for awhile, fearing the ef-
fects Of the Presidents remedial legisla-
tion" The belief is Well grounded in the
minds of many democrats of prominence
that the President is approaching closely
to the lines of mOnometGlliSyn and the gold
standaJ d, and that he has a decided pref
erence for the counsels of eastern finan-
ciers over those of western and southern
party leaders. 1t is thought to be not i'm
probable that this impression is shared
by some of the Presidents cabinet advisers
and that they fear his ideas of remedial
LEGISLATION may be of too radical hue for
the rank and file of the party
Whether this be true or not there
is no doubt that there is strong feel
ing on the part of some of the
Presidents advisers against being pre-
cipitate in the handling of the financial
question. In this case procrastination is
being urged as a virtue rather than a
fault. Those who advocate this doctrine
claim that nothing can be done now in
the way of effective legislation and that no
harm can come from waiting.
The President Impa tient.
It is hinted that the President becomes
impatient at suggestions of Withholding
action, and that he gladly welcomes any
new argument which can be advanced
in support of his stand for prompt and
effective action upon the financial ques-
! ton. He is said to view the situation
which confronts the governments fiscal
affairs as being so grave as to warrant
laying aside all questions Of party policy
and proceeding upon the basis Of adjust
ing the financial affairs without regard
to anything except the main point at issue,
the preservation of the national credit
and the financial prosperity of the country.
1t is not to be understood that those who
do not agree with the President In all
his views suggest placing party policies
above the national welfare, but they main
tain that there is room for reasonable
differences of opinion as to what is ac-
tually best for the financial interests of
the country and they would like to have
all these differences taken into account
in the final agreement upon fiscal policy,
and before that agreement is reached.
Small Arms Test.
The naval small arms board has return