Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-26
What "Croakers" Read Between the
Lines in Cleveland's Statement.
ANXIETY As TO REPLENTHMENT
A Desperate Attempt to Avoid the
Issue of Bonds.
DEAL WITH THE BANKERS

The statement issued by President Cleve-
land for the purpose of relieving apprehen-
sion on account of the condition Of the
treasury has excited considerable comment
1t Is regarded as somewhat extraordinary
that he should have found an occasion for
the statement, and some fear is expressed
that the fact of his regarding the situation
as demanding life preserver statement
IKE this VIII cause rather than allay ap-
prehension. The financial situation both
or the treasury and of the country is very
generally understood. but as far as is
known there is no sudden alarm or PAN
icky feeling on account of it,
May lie Greater Uncasiness.
Ihe fact OF mis- seeking to give assurances
or safety Is construed to indicate a greater
uneasiness on the part Of the administra-
uon than was believed to exist Some
months ago both the President and Secre-
eary carlisle were very anxious for au-
thorl.y 10 be given BY Congress for the
ISSUANCE OF low denomination low interest
oohos. ana when 1t was made evident +,
sheHi that no such authority could be got
~ oih congress II was known that the Sec
neay was Oh the impression that bonds
wouiu nave TO be issued anyhow under the
1uthorlty OF the existing law The pros-
pect or such an issue aroused SO much am
.asoilism In Congress as to lead the admin
Of
oohas would be avoided II possible
would Sell at "a Less Premium
1t is understood that an additional raasor
Tor avoiding the issue of bonds is found q,
the danger that they would have To ha is
Sueu AT greater rate of interest or ra ther
at a less premium. than the fifty million
recently issued. and that this would reduce
the market value of the latter to the in
Ju.y OF Ihe present holders. This appeal to
the conndence of the people and The deal
n ade with the bankers TO replenlsh tbc
gold of the treasury is regarded pc a das
perate and determined effort on the mart If
the administration to avoid the issue of
ponds: The most is made of the facrs the
PRESIDENT has to deal with TO show q TO :
vorable condition. and in measure II Is
gratifying to those who have been civia y
some attention to the matter and have
been apprehensive.
As Read between the Lines
AT the same time the "croakers" as Mr.
Cleveland calls them. read between the
lines the anxiety and uncertainty Of the
administration to the replenishment of
funds. The situation is favorable only in
that II gives increased possibilities of the
treasury's being able to hold out until there
Shall be an increase of revenue through
the operation of the tariff and the safety
OF the situation depends to very great de-
gree upon the speedy settlement of the tar
ln uncertainty and the prompt Increase of
revenue when the proposed new law goes
into effect.
TariT Not to Operate Before Septem-
ber.
The indications now are that the law will
not SO into effect before. or at least not
long before, the 1st Of September. The
opinion expressed by some of the most OBJ
servant Of the democratic Senators is that
the LIST Of september VIII be the date
There is, of course, much uncertainty as to
the amount OF revenue that will be pro-
duced by the income tax, the whisky tax
and the sugar tax, and when this revenue
Will begin to come in.