The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-26
MR.. BLAND EXPECTS A VETO.
TnE PREsIDENI'S ACTION ON THE
SILVER BILL FOREsHADoWED


| Might Approve n Bin Providlpe Mere
~ for the CotusRe OF the seignioraR-.
WASHINGTON, March 25. -President Cleveland
| will veto the Bland Seigniorage bill. That 10
the belief OF every Congressman who has
talk ed with him in the past forty Height hours.
Mr.. Cleveland has not declared his Intentions
but he has 40 plainly Indicated his positive OBJ
jections to the bill that his purpose to vetoit 10
| unmistakable. Two Of the Illinois members
| were among his callers yesterday. They were
| Formsn and McDannod 10th OF them advo-
Gates Of the bill They urged the President 70
| sign the bill. but he told them that. much as he
| desired to af1x his signature to bill providing
| simply for the coinage Of the seiRnioraRe. the
| objections TO the Bland bill we're insurmount-
! able. He pointed out that the yerhiaRe OF the
measure was faulty to such an extent that 10
might he subject to various INTERPRETATIONS in
| two or three i'm portant particulars. Even the
| first section OF tho bill. which tho Presidents
| taid he would feel inclined to sign IL II stood
| alone. was open to misconstruction. After
providing for the coinage Of the $50. l5U.US1
seigniorage. the bill adds:
And the Secretary OF tho Treasury may. In
| his discretion. II the needs OF the Treasury
demand II. issue silver certificates in excess Of
such coinage"
| The President objects to that clause, and de-
clares that It gives the Secretary an authority
| that might prove dangerous. He contends
| that the Ian Rua ge is such as to imply that the
| Secretary Of the Treasury may issue silver
| certificates In unlimited quantities beyond the
| amount OF the seigniorage. although a subse-
auent clause OF the bill provides that said ex-
cess shall not exceed the amount OF the seign-
| forage. as herein authorized to be coined"
| Mr.. Cleveland ins ists that this Ia so ambigu-
| Gus as 10 promise embarrassmentst to the Secre-
tary OF the Treasury.
1t is the second section to which the Presi-
dent Is mainly opposed. 1t provides that the
remainder OF the silver bullion. purchased
| under the lately repealed Sherman law and
still stored in the Treasury. shall be coined
into legal tender standard silver dollars as
fast as possible and that this coin shall DO
held for the REDEMPTION of the treasury notes
issued in the purchase OF the bullion; that
these notes. as fast as redeemed. shall be de-
Of them President Cievc and insists that This
provision Is unwise. and calculated to disas.
oS "S h he did fiff ncs
see how he could approve such .
asSl S. %Ssa sSs v % .he m ss
In both Houses by signing the bill He be-
ply coming the seigniorsge. but he maintains
that the Bland bill goes entirely too far He.
sidss S9nT ~, IN thY prnS,pIe
worded as to be am0iguous and UNCERTAIN Ia
RE Stasr o. ars.% had
been bee ina made when n shs Pin Ss' in the SENATE
observed by the Democratic majority in It's
effort to score point against the Republicans
In that body II might possibly have been cor
rected. As one Of the senators facstiously re-
marked at the time the bill was evidently not
drawn by grammarian. This promp ed an
It had been drawn by a, Missourian. 'A'
Among the president's callers yssttsrday was
in favor Of the bill and SO iniormsd the Pr s
ha mr. %a aSUa Il.
banker or business man who had called upon
subject, said the President land then he
Of the bill The principa, reason set forth
was that more money was needed In circula-
rs Sn Mr. f as he hsS sr..ds
assured the two Illinois Con gressmen. that IL
SF %0a Il sh
but he could not bring himself to regard the
Bland bill as a safe measure in Its present
When the visitors finally left the White
osd Is sapsetsa that sSs veto VIII
may Be- delayed until stsS Tue.ds9 g1 Gs.ns
meeting. secretary Carlisle is said TO take the
6igSous In It provisions. and one that also
fSn ITSELF to mere pr9ESI3n Tor connS
able to the silver element OF the party. and he
q the Western and s@utsernp oi bsmoefsts.
but he does not believe the pending
a REALIZES 'n sha RrGe'T veto SPP Ss bny.
Injurious effect upon the party ln the West and
terday. he'll greatly averse to sxsrcis Ing the
veto power IN this instance, but he feels COM
and Impressive manner OF his regret at having
to disappoint the great majority q Democrats
that II a bill modified as suGeested. wsrs to
come to him, providing simply for the coinage
OF the seigniorage. he would give Il his APP
Mr. Bland, the author Of the bill. when seen
He looked for II tomorrow or Tuesday. Iilt
objects merely to the language Of the bili
drawn at once in Accordance with the fIesi-
6 Ss ;r &: e S%R: s SSs's 81 Is.
present %sssqe e1nn0 ; Opposed
factory TO him We may adopt It, II not. then
shs h b E Hhd0 iHs S pas S rec eSIn
President Cleveland also said in yesterdays
Goad ISSUE Hs and It WAS for this reason a. @ass
as any other that he desired to see the
igsit', He expressed a fear that an spProyai
oithe bill as II now stands would lead TO the
the holders Of the sherman treasury notes.
and thus cause gold panic. For this reason
cation Of the second section OF the bill. his de-
sire being that under no circumstances shall
another bond issue he made.
There has been some douht expressed as to
when e SeiRni forage bill must he acted upon
by the President or when, II not acted upon.
IL will become law without his approval. The
best authority on that subject Is Assistant
Secretary Pruden. who has carried eyerY veto
for the White House to the Capitol for more
than twenty years. Mr.. Pruden's atate-
ment OF the construction Of the law that has
been followed during all Administrators OF
late years is that ten clear DAYS must be AL
lowed. sundays. OF course. not being counted.
The SeignioraRe bill was carried to the White
House after the ordinary departmsntAl once
hours on March ~, The President had gone
out riding with Mrs Cleveland few minutes
before the bill Was brought TO the Executive
Mansion. This throws the date OF its OficiAl
rece ~ over To the following day. March 20.
and gives the President until Friday. March
80. for his action.
The rr..,a,nt q VI. sIoo % tL.H.MCA.