The Washington times., 1894-12-30
If This Congress Does Not Saw Wood
He Will TRY the Next One.
Talk Of Bill Authorizing a Sufficient Bond
Issue to Absorb All Greenbaeks and Treas
urY Notes Reason to Believe That the
Administration Might Favor 1.-THE
President is Determined to Have Relief.
rs there TO be an extra session?

to pass the deficiency bill or In some other
way provide for the collection of the income
tax. the other would be the failure TO enact
any currency Legislation.
Ii is now apparent that the President is de-
ermined that the present condition by which
people can pull gold out of the Treasury as
fast as they choose at any time shall not
continue if he can get Congress which will
pass something to revent it. II is not at all
clear that the pending bill will do this. even
If it gets on the statute hooks. and the
chances of its getting there do not seeI fat
terIng. A good many people believe 1t can
never get through the House, and very few
indeed believe it has any chance of passage
in the Senate
Will President Clevel, nd call the Republi-
can Congress together and ask it to legisiate
on subject which his own Congress has
failed 10 dispose OF. although specifically and
earnestly requested to do so bv himself! The
question is muvh more easily asked than
answered. hui there are good many people
who know Mr.. Cleveland pretty well who
BELIEVE THAT HE WILL.
"And believe it would be the highest type
OF statesmanship," said a leading Democrat
of the House talking of the matter, ''if he
would do So"
The slender chance OF the currency bill be-
coming "A law revives the talk OF a large
bond issue as Il method which would eud The
gold trouble by absorbing the notes which
are now used for obtaining gelt whenever it
| is desired.
1t may have been only coincidence that
/ Representative CoomLs renewed his express
/ sons in favor OF an issue of bonds. just after
/ leaving the White House yes erday where he
had been in conference with the President for
/ a alf hour But ii il was only coincidence
! il was a curious and interesting one Mr.
/ Coombs has been outsPoken in favor Of an
/ Issue OF bonds, ssufiieieut 10 absorb the class
i OF notes upon which. people can now pull
gold out OF the Treasury, aad while he does
/ not profess to State what the Pre-. ident thinks
about this plan,, lie is usually pretty we'll in
| line with the views Of Dir. Cleveland on these
matters, aud seemed to come away from the
/ conference very much strengthened in his
opinion.
/ Il believe said he, "that the statement in
favor OF an issue OF low-rate bonds sufficient
| TO take up all the United States notes and
1 Treasury notes ls growing in favor every
day. IL is apparent that there must be some-
/ thing done, aud we have no very favorable
! indications OF the passage OF the pending
measure. OF course the amended bIil iS much
better than the one orig inally introduced but
the general feeling is that there is little pros
/ peet Of getting Onto the statute books, espe-
! ictdtlJ WIKI the StUatit1u III ILe SeuhIt.- De-
leye that the sentiment IN favor OF an issue OF
enough bonds 10 absorb the entire S492. 900. 900
! OF United States notes and Treasury notes,
! on which gold Is drawn out of the Treasury
| Is increasing daily
but ii you do that. Mr.. Coomhs. VIII you
rot reduce the circulating medium of the
country Just that much if you call in all the
GREgHBAoKs AND TREASURY EoTEs?"
1T would not have that effect, for these
bonds would be used rs a basis for hank
notes. think the proper way would be 10
permit State as well as national banks 20 use
them as basis for currency, permitting an
issue OF say $40 or $40 in notes for every
500 in bonds deposited. This would enable
the State banks to issue circulation. and
would give an opportunity TO increase the
circulating medium, for by allowing an issue
OF something moro than the face value of
the bonds there could be an increase of from
fifty TO one hundred mill on5 in the currency
If the country demanded it,
What do you think the bankers would say
to this!n
THE national bankers might oppose it, be-
cause it would give the State banks as good
opportunities as they now have for an issue
of bonds. but the State banks and the people
who want safe, widely diffused and elastic
currency ought to favor it. This would meet
all these requirements, and would take out of
existence the paper on which ANYBODY can
now 90 the Treasury and extract gold as
long as he peases."
What do you think the administration
would say to ths?i'
Il could not discuss that even il I knew;
hut it is quite apparent that the administers
tion is extremely anxious that some legisla-
tion lie enacted which will render imposs sjbla
these raids upon the gold in the Treasury,
and ii there is any more effectual plan, which
will not disturb the circulating medium or
disturb existing conditions generally. | should
| lie glad to hear of it. Que thing I do want to
say for the administration, that | honor the
spirit in which it has pat forward the meas
ures brought before the House. Secretary
| Carlisle's bill was offered as mere substi-
tute, and when the discussion suggested i'm
proyements which could be made TO better it
they were willingly accepted -
What do you think of the extra session
talk?''
but there can be no doubt that there is great
necessity for
LEGISLATION UPON THIS SUBJECT.
Should Mr. Cleveland call an extra session
he will be the second President since the war
to convene Congress in extraordinary session
| twice during his term OF Office. Until Mr..
| Cleveland conyoked the extra session in
| August of last year no extra session had been
| called since 1879. when Mr.. Hayes called an
extraordinary session two weeks after his in
augnration. That session was forced by
several riders which the Democrats, who had
control of the House had placed on the
Army appropriation bill One of them re-
pealed the law. permitting soldiers at the
polls.
Although the Demo Gratis had elected a mar
row majority to the ensuing House on that
| occasion the brieftime allowed by Mr.. Hayes
| for the Representatives-elect to reach Wash
| ington (two weeks mado it almost impossi-
| ble for them to organize the House. The
Democratic national committee, it will be re-
| membered, on that occasion ran a special
train across the continent from Oregon to
bring Representative Whitaker here In time
to vote. There was much excitement at the
| time, following as it did on the heels of the
famous Hayes-Tilden controversy. but the
train arrived in season, beating all records OF
trans-continental
TRAVEL Up TO THAT TIME.
| Another episode of that organization was
the dramatic and tragic entrance into the
House of Representative Lay, of Missouri
who was very Ill and who was carried to the
Capitol ON a stretcher that he might complete
the vote necessary to make Samuel J. Ran.
dali Speaker. He voted, but was carried
from the chamber never to re-enter it again
OF course there would be no necessity fol
such heroic means OF procuring the attend
ance of members from the remote corners o.
the country If there should be an extra ses
sion OF the Fifty-fourth Congress called al
mos. Immediately after the sine die adjourn
| menr Of the Fifty-third. as the Republican
majority in the House Is overwhelming. Bu