The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-01-24

mandamus against department officials
are usually made to one of the justices
or the supreme court of the District of
An appeal from a decision of the su-
preme court Of the district would lie to
the district court of appeals, but in the
ordinary course of events could not be
heard by the higher court for several
months, unless an order advancing it on
the calendar was made.
from the court of appeals the case
might be taken 10 the United States SUI
preIne court, if the discoura cement that
unquestionably would be met by the en-
Jolners in the lower courts did not cause
them TO cease their efforts. 1t is be-
neVed no delay would be occasioned by
these legal proceedings. as even a tenn
porary injunction doubtless would be de-
MED.
The populists of the house know moth
ing about the injunction against the
bond issue Jerry Simpson Of Kansas
says he will have no hand in it, but
would be glad if it were true.
Has Power to Sell Bonds.
Representative Culbertson of Texas,
chairman of the judiciary committee,
says there is no doubt of the power of
Secretary Carlisle to issue bonds for the
purpose of the resumption act The gem
eral opinion among the lawyers of the
house is that proceedings would have no
standing in court.
Strong sentiment is expressed among
the silver leaders of the house against
the gold clause" of Secretary Carlisles
notice Of a bond sale. Representative
Bland says that it is the first time he
has ever seen an official statement de-
Ginning to accept silver or any of the
various forms of legal tender and re-
curing payment in gold only.
Aside from the legality of the gold
clause, the silver men say il is against
public policy TO make a public discrim-
nation against one of the money metals
now in use. and that the effect of the
secretary's action is to tend to send gold
TO a premium and to disturb the parity
between gold and silver coins.
Representative Tracey of New York,
one of the anti-silver leaders of the
house. said: Secretary Carlisle wants
no more silver for he already has in
the treasury more than he wants What
is needed is gold. 1t is fortunate under
these circumstances that the law allows
him to secure the particular metal he
wants. While the bonds are payable in
gold, yet in selling them the secretary
has the authority to secure payment in
any class of coin he needs, as the express
purpose of that law was to give
means Of meeting the needs of the
treasury"
Believe There Is No Gold Reserve.
Some Of the treasury department Of
ficials have a theory, which has been ad-
vanced several times heretofore and
which is said to be shared by some of
those who have a hand in directing the
affairs of the department, that at this
time there actually exists no funds that
can be properly termed the gold re-
serve"
The so-called gold reserve which was
created by Secretary Sherman under the
act of 1875, they hold. has been entirely
wiped out by the redemptions of United
States notes and treasury notes. for
which purpose it was originally created
The redemption of treasury notes alone
il is said has been sufficient to wipe out
the gold reserve, and redemptiOns of
United States and treasury notes, to-
gether, up to recent period, has aggre-
gated S149 100000. This vast amount of
notes has not been retired, but has been
reissued. If this theory is carried to its
legitimate conclusion, it is held that
the government has not been using the
gold reserve for the payment of current
expenditures. but has been merely draw
ing on it's stock Of assets as represented
by the gold. 1t is said that certain
figures. bearing out the deductions above
referred to, have been prepared for the
use of Secretary Carlisle, and that he
viii shoty issue a statement on the sub
ject.