The record-union., 1894-01-15
Special to the REcoRp-UN1oN.

Special to the RECoRD-UNIoN.
WASHINGTON, Jan. 14.-Some decisive
action to replenish the gold reserve in
the Treasury will be taken within the
next few weeks. If Congress does not
take kindly to the suggestions offered by
Secretary Carlisle in his annual report
and provide at once some mode of relief,
the only course left to officials of the
Treasury Department will be for the Sec
retary to exercise the authority granted
him by the law of 1874 and issue bonds
for the purpose of maintaining the gold
reserve.
The position which confronts the Ad-
ministration is one which they have de-
cided to handle with promptness. All
the available money now in the Treasury
consists of the so-called gold reserve"
which has now been invaded SIG, 600, 600,
and by the 1st of the month the depart
ment believes the total amount will have
been reduced to S6S, ,0000 600. Such a situ-
alton, it is thought, will again start the
movement of gold toward Europe. which
would still further reduce the amount of
god held by the United States.
Secretary Carlisle twice appeared be-
fore the Committee on Finance, and his
presentation of the case to members of
that committee has been clear and eX-
piicit in a statement of the. situation.
When next he appears before the COM
mittee, which may be tomorrow.
probably he will emphasize his
argument by the presentation
of a carefully prepared statement of the
condition in which he finds the national
finances, as we'll as the methods proposed
by him to afford relief Carlisle prefers
that Congress should deal with this mat
ter, but if the national Legislature fails
within three or four weeks to show any
indication that it intends to aid the Secre-
tary of the Treasury, it is known he will
be forced to avail himself of the authority
granted him by the Act of 1873, and issue
bonds necessary to replenish the
reserve. All statements to the effect
that orders have been given
and Printing sfor plates, etc., are pure
fabrication. Absolutely no action has
been taken, and no plans have been de-
cided upon. This much can be officially
stated.
The attitude of New York banks, as
exf c9ssed in recent publications in re-
gard to furnishing gold for export, should
such necessity arise, possibly had some
effect in strengthening the feeling of the
Government, should there be an issue OF
bonds to protect the gold reserve. 1t is
denied, however, that any agreement ever
existed by which the banks are to furnish
gold.
prominent Democratic Senator said
to-day that Secretary Carlisle would not
allow the gold reserve to fail below $780,
000, 900, and should the reserve be reduced
to nearly that point before Congress acted,
Carlisle would then issue bonds. When
this statement was shown Senator Voor-
hees, Chairman of the Finance Committee,
he edeclined either to verify or deny it, say
ing: 1.-The Secretary of the Treasury has
the authority and disposition to protect
the credit of the Government, and | have
no doubt he will act promptly and effect
lively ii the emergeny should arise"
Senator Voorhees, does not deny the
report that he is preparing bill to meet
the emergency, but this statement would
seem to indicate that he does not expect
to be called upon to formulate the meas
ure.
With reference to the opinion, that
bill for a bond issue cannot originate in
the Senate, it can be stated that lawyers
in the Senate are generally OF the opinion
that it can originate there as we'll as in the
House. senator Gray says the House
would probably make row over such
action on the part of the Senate, but in
his opinion the issuance of bonds is not
raising revenue as provided for in the
Constitution