The morning call., 1894-11-11
OPPOSED THE PLAN.

WASHINGTON, Nov. 10.--There are strong
indications that another issue of bonds
will be made during the coming week.
For some time past the conviction has
been growing upon the President that an
issue of another $50 600, 600 would seem to
be necessary, aud on his return from
Buzzards Bay he expressed to the mem
beers of his Cabinet the belief that the issue
could not be long delayed and that the
sooner it was made the better. He saw
the treasury receipts constantly growing
less with no Immediate prospect Of any
favorable change.
Already the gold reserve has reached a
port 81, O00 900 below the lowest point
touched previous TO the last issue with the
proba bilities in favor of still further and
larger Withdrawals for export IS soon as
the usual spring outflow sets in. For the last
several years the spring Withdrawals for
export have ranged in amount from
$50. 600, 600 to $50, 900, 900, and even more,
and it was not good business Judgment in
the opinion of the President to wait until
the gold reserve was in fact wiped out be-
fore measures should be taken to replen-
ish it.
Secretary Carlisle. it is understood, took
more hopeful view OF the situation. He
argued that the receipts from internal
revenue and customs must of necessity
soon show marked increase. The supply
Of whisky which was Withdrawn from
bond just previous to the passage of the
new tariff act to avoid the payment of the
additional 20 cents per gallon would very
soon be exhausted and the demands OF
trade would result in largely increased
revenues from this source, and what was
true of the internal revenue was equally
true of the customs. Just before the
tariff act went into oreration the with
drawal from bond of goods of every char
acter was abnormally large.
This supply has now been exhausted, or
nearly so, and it was the confident expec.
tation of the Secretary that the pre- sent re-
vival of trade would soon remove any
necessity for more issue of bonds. Up to
this time there had been no signs of any
important Withdrawals of gold for export,
and it was his opinion that the emergency
might be passed successfully without in
creasing the public debt. He argued, too,
that his experience in placing the last
issue taught him that the issue of another
| S5O.0OO 900 might fall short of recouping
the gold reserve by that amount.
1t was an easy matter to deposit legal
tenders at the sub-treasuries and demand
gold with which to pay for the bonds.
This evasion of the spirit of the law auth
ori7ing the issue of the bonds was several
times detected during the settlements Of
the last issue, and he feared it might be
practiced again. The President, however,
thought that. all things considered, he
preferred not TO wait until Congress re-
assembled in December, when measures
night be taken to obstruct the issue. In
his Opinion the situation demanded the
| issue, and there should be no unnecessary
delay in the matter.
At the request of the President Secre-
tary Carlisle Joined him at Woodley this
afternoon ana at late hour had not re-
turned to the city. Persons in position
TO know believe that the issue will be
officially announced before the close of the
coming week.
NEW YORK, Nov. 10.-The exports of
specie from the port of New York for the
week amounted to $115, 1856 in gold and
S445. 200 in silver. Imports for the week
were: Gold, $50. 1S5; silver, 1924. 1888; gen.