The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-01-17
vooRHEfss MAKES A STATEMENT.
No Ground TO Believe the Public
Credit VIII suffer.

Washington, Jan. ia meeting Of
the Senate finance committee was held
this afternoon, for the purpose of con-
sidering Secretary Carlisle's letter and
the bond bill. After the conclusion Of
the meeting, VOORHEES,, as chairman of
the committee, handed an Associated
Press reporter the statement given be-
low. In making it, he said he did not
assume to represent the views of the
entire committee, and yet knew Of no
opposition in the committee to the
opinions expressed. He submitted the
statement to the full committee before
giving it to the public. 1t is as fol-
lows:
THE embarrassed condition of the
treasury and the necessity for prompt
action for relief is fully realized. There
is not the slightest ground. however,
for apprehension that the public credit
will suffer or be endangered, for the
reason that ample authority already
exists by law for the secretary of the
treasury to strengthen the coin reserve
to any extent required, and meet every
demand that can be legitimate The
power of the secretary for the issue of
bonds needs nothing beyond what is
given by the act of January IA, 1877.
The only desirable object to be at
tanned by new legislation at this time,
IS TO make a shorter time bond with
lower rate of interest, yet the secre-
tary feels assured he can negotiate
the bonds issued under the act of
1875, running only ten years, on
practically 3 per cent basis. It seems.
therefore, it will be wiser, safer and
Better for the financial and business
sMS terests of the country to rely upon
assle existing law, which will meet the
present emergency, rather than en-
counter the delays and uncertainties
always incident to a protracted dis
cussion in the two houses of Congress.
The condition of the treasury admits
of little, if any, delay. and no uncer-
tainty at ali in the final action to be
taken.
1T would be trifiing with a very
grave affair to pretend that new leg
islation concerning the issue of bonds
can be accomplished at this time, and
in the midst of the present elements
and parties in public life with an
elaborate, extensive and practically in
definite debate. 1t is obvious to every
one that the consideration and discus
sion Of the tariff now going on will
render any financial legislation at this
time far more difficult and complicated
than 1t might be under another and
different circumstance. 1t is proper to
say the Senate finance committee. for
several weeks past, has had the sub
jeot under almost constant consider
alton and the bill submitted by Car
Isle has been examined and discussed
with the greatest care. The interest
of the committee will by no means
be abated from this time forward. The
fact that much remains to be done
is fully recognized. Whatever def
cheney in the revenues may exist dur
ing the current fiscal year will be
promptly provided for by appropriate
and efficient legislation at the earliest
moment
The senate finance committee has au-
thorized Voorhees, to introduce the Car
Isle bin in the Senate and also to
present the letter from the secretary
for the consideration Of that body.
which viii be done. This AUTHORIZE
ton as to the introduction Of the bin
is not intended to meanA however.
that the committee has decided TO
make an effort to pass the bill through
the Senate, or that it has given it fur
Their endorsement than to allow it to
be printed and referred to the com
mistee in a reguier way for considera-
ton.