Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-16
Mr.. Carlisle Will Wait Awhile for
Congress to Act.
HIS LETTER CAUSES COMMENT.
The Senate Finance Committee
Considering It.
DISPLEASED BY HIS WORDS

Mr.. Carlisle's letter to Senator Voorhees,
showing the condition of the treasury and
announcing the necessity of speedy action
Tor Its relief, coupled with what amounts to
declaration that he will be compelled to
issue bonds under the provisions Of existing
law If Congress fails to act, has excited
considerable comment.
The belief prevails in high quarters that
1t will be impossible to get consent of the
two houses Of Congress to a bond ISSUE and
there is some disposition even on the part of
those who favor the issue not to waste
much time in the attempt. Mr. Carlisle has
decided positively that If authority of Con-
gress is not given for an issue of bonds at
low interest and on short time some time
before the LIST Of February, he will issue
bonds such as provided for in the redemp.
ton act.
He has already the necessary assurances
that he can negotiate these bonds immed-
lately at such a premium as to bring the in
! terest down to per cent. His purpose Is
not to walt until the 1st of February to
issue the bonds but to have them issued
before that date, as he does not regard 1t
as safe, or perhaps even possible. for the
government to run longer than that with
out replenishment of funds.
Fifteen separate offers aggregating 5000
600 to take bonds. should Secretary Carlisle
issue them have been received at the
Treasury Department. One offer to take a
block of $25,OOO,OOO was received from a
New York Arm this morning. Another Of
fer to take $175 was received from a me-
chanic.
No preparations however. are being made
at the Treasury Department for an i'm
await a reasonable time for Congress to
act. probably until February /, before he
proceeds Independently of Congress, on the
presumption that now that he has off,
ctaily called Ia attention n
the Urgent needs of the treasury 1t will
act promptly. Until Congress shows that
1t will not relieve the treasury. the Secre-
tary Will not feel called upon on his own
responsibility. to issue bonds under the re-
sumption act.
The senate Finance Committee.
The Senate committee on finance met this
morning. and after discussing for one hour
the proposition of Mr.. Carlisle as 1t ap-
peared in the morning papers. were unable
to agree upon any definite result. At noon
the committee adjourned until . o'clock
when anothe: meeting will be held.
Mr.. Carlisle came in for some criticism
at the hands of the committee, because OF
his intimation that the iSon,patttee had not
been considering the financi8f condition OF
the treasury and the bond proposition.
Some members of the committee d.. &6t
take kindly to this reflection upon then
work. The committee has been consider
ing this very question" said a prominent
''and We have been endeavoring to get
some kind of a statement from the secre-
tary so that We could proceed intelligently.
We knew there would be a deficit at the
end Of the present fiscal year. but had no
knowledge as to how much it would ap-
proXimate.
Twice did the Secretary appear before
us and discuss the question. but so far as
l am aware the letter published today is
the first prepared statement laid before the
committee. Mr.. Carlisle Is certainly labor
ing under a Misrepresentation of facts II
ne believes the committee has not discussed
the proposition to issue bonds in all its
phases"
While Mr. Carlisle's statements favors
giving the Secretary authority to issue
bonds from time to time, in such amount
as he may see tit, it is understood that he
would be willing to have the committee
limit the amount to a sum sufficient to re-
store the gold reserve and to provide for
the deficiency that will exist at the end of
the present fiscal year.
The Silver Men.
Another element of doubt is the attitude
of the silver men, who are insisting that
certificates shall be issued against the
seigniorage now in the treasury. This. they
claim, would help Mr.. Carlisle out to the
extent of s55, 900, 900 and the balance might
be provided for by bonds. One or two of
the anti-bond men favor a further issue of
greenbacks.
At the further conferences Of the commit
tee an earnest effort will be made to ANAL
gamate these various views into bill which
will provide for the relief Mr. Carlisle asks.