Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1894-02-01
THOSE BONDS.
Secretary Carlisle Tries to Mako
the Matter Clear.
THE ADVERSE BAILEY RESOLUTION.
Mr. Carlisle Say. IL DOCS Not Question Ills
Right to Issue Bonds, Nor Does
n yItiate the Value
OF Them.

New YoRK, Jan John q. Carlisle,
secretary OF the treasury, is at the
Fifth Avenue hotel lie made public
last night the following statement;
II has been erroneous published In some
newspapers that the committee on the Judiciary
Of the house OF representatives had agreed 10
and reported a resolution DENYING tn authority
Of tho secretary Of the trearury TO issue and
cell bonds as l. proposed In his recent circular.
and these publications have evldcntly mad an
luufAyorable impression uNon the minds Of some
who contemplated making bids for these securi.
ties
The only conclusion In relation n this subject
that has been before the committee Is AS fol.
lows;
Resolved That II I, the sense Of the house
OF representatives that the Sc ro'arv has no
authority und r existing law 10 issue ami sell
bonds OF the United States except such as Is
conferred upon him by the act approved Jan.
nary II, 1873, entitled An act 10 provide for
the resumption OF specie payments and that
the money derived from the sale Of bonds issued
under that act cannot be lawfully applied to
any purp ses except those specified therein"
IL will be seen this resolution rs ,umcd that
the authority to issue bonds was conferred
upon the secretary Of the treasurg by tn act
Of January ~ 1879. and that such authority
sul exists: but Il asserts the proceeds Of the
bonds cannot be lawfully used except for tho
The oficiI tclegraphio report Of the proceed
lngs In the committee, when the secretary mp.
| polrcd before II last Thur,dlv, shows thai his
authority To issue bonds was not Questioned b.
any member, the only question being whe ther
he cou use the proceeds for any other purpose
than the redemption of nited States notes
Mr. Bailey, tho author OF tn RS Ia ion, dis.
tnotly admitted the existence Of the authority.
Addressing the secretary, Mir Bailey sad:
THE resolution does not impcach your right
to issue bonds II expressly recognH-s It, but
questions your right TO apply the proceeds 70
any purpose except those specified In the DOT -
| The judiciary committee Of the house exam
ln,d and reported upon this same question dur.
Inc the Fifty seconi congress, ami II then con.
Q deI tho authority existed under the oct Of
IIS'j.
The question as to the authority Of the secrc.
tnry 10 use tho money In any particular man.
ucr or for any particular purpose. Is VIII N Y
/ distinct from the question ~ 10 his authority
10 issue aud sell the bonds. No matter what
h. NAV do with the money! the vail lily Of thC
bonds will not be affected, AMI there h, here
fore no reason why anyone should hcsitnt, IA
invest IN those securities on tue ground the
proceeds might possibly be- used f1r other than
redemption purposes.
| Mr.. Carlisle would say nothing fur
thcr On the subject lie stated hi,
only purpose in issuing this statement
was to rrctify errors of recently put,
l.shcd reports regarding the issuanc,
OF bonds lie will leave thi, city thi,
/ evening