Daily Texarkana Democrat., 1894-01-27
CARLISLE BEFORE COMMITTEE.
The Secretary of the Treasury Ap-
pears Before the Judiciary
Committee.

! Oh Inu'eualJ ~ Tue HTsI tlUle
since the present Congress assembled
every member of the judiciary COM
mittee was in his seat at meeting
Of that body The magnet which
drew tie members to their seat, in
the committee room, at the appointed
hour, was the appearance of Secretary
Carlisle, to state his position and views
on the subject of the proposed bond
Issued. The resolution of Representa-
tive Bailey declaring it to be sense of
the House that Secretary Carlisle had
no authority 10 apply the proceeds of
the bonds to any purpose but redemr-
ton was before the committee. Car
Isle spoke in an Informal way for on
hour aud half and was assisted by
several members of the committee.
1t was held by tn" secretary that
the law conferred upon him authority
to issue bonds, although he stated
frankly that until recently he had not
entertained that opinion on the ques-
ton. From the pressure which had
been brought to bear upon him, he
said, for the boud issue, and although
he regretted the necessity for it, as
the step did not seem to meet the
unanimous approval Of the party, yet
it was plain to him that the necessity
was imperative at this time. A deficit
of $80,000,000 would exist at the end
of the fiscal year, he estimated, under
existing conditions, or as result of
the proposed tariff legislation, unless
Congress gave relief to the Treasury,
which he hoped 1t would do
Mr.. Bailey asked Mr. Carlisle
whether he thought the law on which
he based his right to issue bonds en-
powered him to devote the proceeds
to the expenses of the government, or
| TO redeem the notes issued under the
Sherman act Mr. Bailey added that
he did not doubt the right TO sell
bonds for redemption, but did deny
! that the proceeds could be applied to
other ends.
The answer of Mr.. Carlisle was com
preheusive, and in the affirmative.
He explained that most of the appro-
priations made by Congress stipulated
that any money in the treasury, "not
otherwise appropriated" should be
used for carrying out the purpose of
the act. Under this authority. the
secretary said he could expend for
current expenses al the money in the
treasury, down to the last dollar,
whether or not it was the proceeds Of
bonds, provided, only, that it WAS not
otherwise appropriated. He had
power, also, he thought, to sell more
bonds as he saw the necessity, govern
ed by his own discretion, so long as
the state Of the treasury made it nee
essary to borrow money,
/
The leading question from the Re-
publican side was put by Mr.. Ray Of
New York who asked: "Mr, Secretary
desire to put this question, which
YOU can answer or not, as you think
best. The resolution declares that the
proceeds OF the bonds to be sold can
only be used by the Secretary Of the
Treasury lor the purposes declared in
tle act OF 1879, to wit, the redemption
of United States notes. The question
is thi.: Suppose this committee thinks
that to be the law, do you think it
wise, advisable or expedient for this
committee of the House Of Represell-
tati res to so formally vote or declare:
would not such a declaration embar-
rass the Treasury department and in-
tensify the financial strain now on the
country"
The reply was: Il do not want to
tell this committee what TO do, but |
can say that it would probably embar-
rassthe treasury department. although
| hope it will not become necessary to
use any Of the proceeds Of the bonds
sold for payment of current expenses
of the government"
Mr.. Ray was made author of the
minority report signed by all the Re-
publican members Of the committee
in the Fifty-second Congress, which
sustained the right of the Secretary to
\ issue bonds, Democrats at that time
being opposed. Mr. Ray holds to bis
former position, but denies that the
proceeds Of the bond sale can be nsed
for current expenses Other Repub.
licans of the committee are thought
10 be with him. From the tenor OF
the discussion IL was learned that
Messrs. Bailey, Boatner and DEAR
mond are in favor of the Bailey reso
luton.
First Annual Ball.
On Tuesday evening. February 18Th