The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1894-11-24
WASHINGTON LETTER.


accomplish any important legisla.
ton will be depend entirely upon
circumstances, but whether it may
or may not, it is certainly going tc
be one Of the iiveliest short sessions
ever seen. There are scores of Sen.
ators and Representatives who have
provided themselves with clubs
which they propose to use upon the
heads which they think deserve
cracking, and the owners of those
heads also have clubs, and the cour-
age and strength to defend them
selves. In addition to the bond
question, which would of itself
probably have brought on a finan-
cial discussion, President Cleveland
has himself announced tina. his an.
nuai message would contain impor-
portant financial recommendations
--some say for an entire revision
OF our present financial system.
There is room enough and cause
enough for revision, but the trouble
is that unless Mr.. Cleveland has
greatly changed his opinions his
recommendations are not likely to
meet the approval of majority Of
bis own party. In fact, without
knowing the nature Of these recon-
foundations, IL is already being FREQ
" predicted that party lines are
likely to be wiped out in the dis
cussion which will follow, and that
the republicans, with the exception
Of few from the west, will be found
supporting Mr.. CleveIand's recon-
mendations, while the populists and
the bulk Of his own party will OPP
pose them. These predictions are
based upon Mr.. Cleveland's finan-
cial record, and may, Of course, be
all wrong, as he may have changed
his mind, as other men have often
done.
There is likely to be an interest.
ing debate between the constitu-
tional lawyers in Congress as to
whether the President exceeded his
authority in Offering to mediate be-
tween China and Japan without
submitting China's request that he
should do so to Congress.
Members Of Congress are begin
ming to arrive quite numerously,
and one of the things already made
apparent 10 that the friends of the
administration are going to have u
hard time to keep down democratic
criticism Of that bond issue, which
was, after all the previous denials,
officially announced last week.
Representative Bailey, of Texas, is
one Of tho most outspoken oppo-
nents of the bond issue and no
amount Of pressure will prevent his
making all the fuss about il that
he can. Theoretically, Mr.. Bailey's
argument--that under the act of
1875 bonds can be issued only for
the purpose Of getting gold to re-
deem groenbacks--is both legal and
correct, but practically it is very
much like moonshine. Although
Secretary Carlisle has upon several
occasions announced that he would
have no hesitation should the ne.
cessity arrive in using part Of the
gold reserve to meet ordinary obi
cations of the government, it is not
likely that he will ever do so. Be
cause of the reason which knocks
the bottom out of Mr.. Bailey's ar
gument: Those who pay gold for
bonds to-day may tomorrow pre-
sent greenbacks at the treasury or
any sub.treasury and get the gold
they paid for bonds back. Thus
the bonds issued for gold to add to
the redemption fund are in reality
issued for greenbacks with which to
pay current expenses of the gov
eminent. and the gold reserve is so
easily changed into greenbacks that
there could be no possible occasion
for encroaching upon it. There may
be doubt whether the trainers of the
specie resumption act intended that
it should work this way, but there
is nothing about its 80 working. If
Congress doesn't like it, the law
may be repealed or amended, but
until one or the other is done these
bond issues may be forced whenever
the demand for the redemption of
greenbacks become great enough
to reduce the gold below what has
been set by the administration ms
the danger limo. 1t really isn't the
administration that decides il. 1t
is the moneyed interest.
Representative Howard, of Ala,
who was in 1892 a delegate to the
National Convention that nomi.
mated Cleveland, is now populist
member-eleet of the House OF the
5lth Congress, of which he will be
one of the youngest If not the
youngest member. II Mr.. Howard
has his way no will make it as un-
pleasant as he possibly can for
President Cleveland. After saying
that he proposed to introduce res
olution soon after he takes his seat,
providing for an investigation of the
means by which the Sherman silver
law was repealed and of Mr. Cleve-
lands connection with certain cor
porations and brokers, Mr.. Howard
concluded rather breezy CONVEX
sation with this sensational lam
guage; "ln other words, | mean to
find out how Cleveland has amassed
a fortune of millions since the close