Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1894-01-20

Washington. Jan ia meeting of
fine senate finance committee was held
mi. AFTERNOON for the purpose of con-
siderjng Secretary Carlsle's letter and
tbe bond bill After the conclusion of
the meeting. Senator Voorhees,, chair
man of the committee, handed to an
Associated Press reporter the state
ment given below.
In making it ne said he did not as
sumo to represent the views OF the
entire committee and he knew of no
opposition in The committee to the
aDlnions expressed. He submitted his
statement to the fun committee before
giving il to the public. 1t is as fol-
lows:
The embarrassed condition of the
treasury and the necessity Of prompt
action in its relief is fully realized.
There is not the slightest ground,
however for apprehension that public
credit will suffer or be endangered for
the reason that ample authority al
ready exists by law for the secretary
of the treasury to strengthen his coin
reserve to any extent required and
meet any 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 Jan. IA,
1877.
THE only desirable object to be
attained by new legislation at this
time on the subject is to make a
shorter time bond with a lower rate
of interest and yet the secretary
feels assured that he can issue bonds
under the act of 1915, running only ten
years on practically Il 3 per cent.
basis
TT seems therefore TO be wiser safer
and better for the financial and bust
ness interests Of the country to rely
upon the existing law with which
TO meet the present emergency rather
than tn encounter the delays and I'M
ccrtaintics always incident on pro
tractcd discussion in the two houses
of congress- This view of the con
dition of the treasury admits Of but
little if any delay and of no unccr-
tainty mt all in the final action to be
taken
1T would be ritlinE with very
grave affair to pretend that new legis-
lation concerning the issue of bonds
can be accomplished at this time,
in the midst of the present elements
and parties in public life, with clabo-
rate. extensive and practically indcti-
mite debate. 1t is also obvious 10
every one that consideration and
discussion of the tariff is now going
on in congress and financial legislation
mt this time would be far more diti-
cult and complicated than it might be
under other and different circum-
stances
1t is proper to say in this connec-
ton that the senate finance committee
for several weeks past has had this
subject under almost constant consid-
grafton and the bin submitted by Sec
rotary Carlisle has been examined
and dicussed with the greatest care.
THE interest OF The committee will
by no means he abated from this time
forward That much remains to be
done is fully recognized. Whatever
deficiency in the revenues may exist
during the current fiscal year, will be
promptly provided for by appropriate
and efficient legislation mt the earliest
moment
The senate finance committee au-
rlorizcd Senator Voorhees, TO introduce
aa Carlisle bill in the senate
nI also to present the letter from the
saweuy of the treasury for consider
ALTON of that body, which was done.
This authorization rs to the inToduc-
""n or fho bill is not intended to mean,
however that The committee has de
..d"1 10 make ana effort to pass the
II. Trough the senate or that it has
gwen any further endorsement than
10 allow it TO be printed and referred
No rao committee in the regular way
." considerations
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