The sun., 1894-01-27
AGAINST THE BOND ISSUE.
1BE HoUSE JUDICIARY COMMITTEE
ADOPIS BIILkY'S RESOLUTION


It Declare. that the secretary Hss No
! Au'horIty 20 I-sus Bouds sns Use the
! Proceeds Tor Any Other Pnrpo,s Than
! the Rssemptioa OF eresuhseEs-K -Knishts
Of LsSor Injuuction salt to Bs Pressed.
WAsHINGroS Jan. 2G-Ths House Commit
! tee on the judiciary to-day authorized Mr.
Bailey Of Texas to report iavotably his resolu.
! tion relative TO Secretary Carllse's proposed
bond issue. The resolution was adopted by a
| vote of 81 to L. The full text ofthe resolution is
az follows:
R.s That It's the ~ the House Of represent
stvs' that tho Secretary ~ The Treasury has no su
thorty under eVstng law to issue and sell the bonds
Of the nited states except such IL conferred uptn
him by the act approved Jan. H. 1870 entitled IAN
act to provide for the Resumption OF Specie Paw.
ments' and that the money derived from the sale ot
bonds issued under that act osnhot be IaNfully no.
Piled to any purpose, except those specified therein
When Mr.. Bailey called up his resolution he
stated briefly the grounds upon which he basel
his contention. Some Eeneral discussion FOL
lowed which developed the fact that the oppo-
ncnts Of the resolution did not denv that the
resolution stated the law. hut doubt ed the ex-
redlcncy of netting uron the subject after the
Secretary had issued his call. 1t was moved
10y Mr.. Layton OF ohio that the resolution be
laid on the table subject 10 call. In other
words. while his motion did not provide that
the resolution be laid aside indefinitely. the
purpose was to prevent consideration at the
present time. Mr.. laytun's motion was de-
ieatcd hy vote OF . to I. Tho rext motion
was made by Mr.. bailey on tho adoption OF the
resolution. aud this was carried by the same
vote.
The action Of the committee plainly indicates
that the majority were not influenced by the
day whcn he apnen od Leiore them. II is Mr.
liailel's rutroset To- call IN the resolution in
tariff hill shall have been disposed o'.. lie be.
lIeyes that 1t will rass that Oohy by the same
relative majority which i secured in the com:
favorable action upun the committees rrsolu-
tion by the House result in tho Secretary,s
as required by law. and lot to meet the current
expenses the Government. Asked what the
ent emergency, MIR Bailey replied: Coin the
segnlorage In the Treasury. That will meet
our present necessities"
Otthe ak Republicans present Ave -Messra
stone. Ray thilds pdegrad. and Broderick
voted to report the rasolutl9n Mr., Powers
OF Vermont vUted In the negative. Mr.. W. A.
ETeGoT,or T,5 to-day the folIoyinE statement EN-:
for voting in the affirmative;
The henuhlicsn party has always main
there should lie kept at all times, 10y. sale OF
bon bonds 4 necessary. reserve iund oi ,slOO;
Sses ncSs The '9s
Carlisle Ia practically to wipe out and destroy
the reserve fund 10y treating IL a. balance
In the Treasury. out OF which the al
negotiations OF Congress. may be paid.
This policy is viewed with alarm. II 1t
Is ariied out II will have u far more
pernicious effect on the business and credit Of
the country than any TEMPORARY embArrass-
IN ent that NAV arise by the failure OF Congress
10 provide sufficient revenue To defray the
current expenses OF the Government. Mr..
Carlisle Is largely responsible for the Wilson
bill. now before the House. We believe this
bill to be the principal cause for the present
deficiency in the revenue, He cennot expect
nG In n Nrh MI ali
the revenue below the necessary amount to pay
then proposes to supply tho deficiency by sell
ing United States bonds"
T. IL Mcclure. Chairman OF tho Executive |
Committee OF the Knights OF Labor. arrived in |
Washington this afternoon to assist in the |
prosecution OF the suit to be brought by tho !
order to enI bin the issuing OF bonds cOntem-
plated by Secretary Carlisle lie hoped to have |
hal the suit begun this afternoon. hut in that |
he was disappointed. lie has secured the ser |
vices OF Shellaharger 4 Wilson OF this city
who will have charge OF the case. Mr.. J. |
Warner Mills OF Denver who is in tho city. |
will also be retained as counsel. and IL is |
thought that the hearing will take place In a |
few days. The papers will ha filed in the Su-
preme ,ourt OF tho District to- orrow morn
Ing The document recites the alleged un-
lawful acts that the Secretary OF the Treasury
is about to commit and prays for an Injunction |
restrain ming him from issuing the bonds COM
planned OF. conference OF the Attorney in |
the case was had at senator Aliens rooms in |
the Maltby building this evening.