Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-12
N ONE PARTISAN PLAN
Mr.. Walker Says Finances Should Be
Outside of Politioa
HIS bond Issue P1an-LOans PAYABLE
mt Different Times ms
Bid for.

Representative Walker Of Massachusetts
who is the leading republican of the bank
ing and currency committee Of the House
and who Is regarded as one Of the best
Informed men on finance in Congress, is
very earnest In his declarations that the
financial questions should be taken out
Of partisan politics and believes that until
this Is done the business interests Of the
country must suffer. A Star reporter asked
him today for an expression of his views
as to what would be done in the present
exigency arising from the growing deficit
In the treasury.
Il think said Mr.. Walker. "that the
proper thing to do would be to advertise
for a loan of whatever sum they think they
will need for the next twelve months not
to exceed three per cent time not longer
than eighteen months nor under twelve Let
each bidder set the time for which he will
take the obligation and the amount and
the interest.
They will get loan cheaper by letting
the bidders set the time of payment within
the limits. than by any fixed rate and time
they can set, for there are hundreds and
thousands Of people in the community now
that have money on deposit that they want
to use on specific date and they will let
1t very much cheaper to be paid on that
date than on a longer or shorter time with
In the limits named. After the government
has its tariff bill passed and has these OBJ
legations matured they will know the
and the length Of time they will need to
carry it and then they can advertise for
loans TO pay these short time obliga tons to
be taken on dates convenient to the gov
eminent and paid at such time as will be
convenient to the government That is
finance; it Is not politics and it is not any
such management as we have had
In what form would you issue the evil
dpnca9 of fhia ipdabt a1n
Il would issue 1t in different form; in
sny form that the treasury might choose
to give ii. I should pursue the policy of
Massachusetts in all cities and towns. bor-
nmits between which they are to be paid.
This scheme Is for supplying deficiency
until the revenue bill which the democrats
are contemplating gets Into normal opera
ton. OF course, IL the democrats have wit
enough to run the government (Which is
now exceedingly doubtfuD. they will frame
an internal revenue and tariff law that will
AFFORD sufficient revenue to meet the de-
mands of the treasury and gradually ex-
tinguish the bonds as they become due"
What are the probabilities of legislation
on this subject?"
Il think the probabilities are that they
will dawdle and dawdle and do nothing
What condition will IL leave the treasury
in if no provision is made for this rapidly
increasing deficit?
Il presume that Mr. Carlisle will sell
bonds under existing law. for a time and Of
a character which the democratic party has
unanimously condemned, and which all
sound finance forbids."
The Bond Proposition.
what do you think of the proposition that
was reported this morning from the COM
mittee on coinage, weights and measures.
the Bland proposition to issue 5000. OOO in
certificates against the surplus silver. and to
coin all the silver bullion in the treasury
There is not the slightest economic justi-
fication of 1t in the condition of the treas
ury 1t simply adds $50 600 900 to the green
back and the treasury note issue with moth
ing behind it, The action thus far indicated
is anarchical. That is to say. it is to force
the government into impolitic and Unjust
tional spleen of a small faction Of the DEM
ocratic party.
what would you advise the Secretary of
the Treasury to do under the circumstances
in order to secure temporary loans?
NOn-Partisan Action.
81 would advise him, by all means, to
make a new precedent in the treatment of
the legislative branch of the government in
relation to financial matters. The House
has no finance committee. What Mr.. Car
Isle ought to do Is to absolutely declare
that the question of raising money to pay
the bills contracted by the government I'M
der existing law is not a party question;
irvite to his Office for consultation Mr..
Voorhees,, chairman of the finance COM
nittee of the Senate. Mr.. Morrill,. the chair
man upon the part of the republicans; MIR.
Wilson, chairman Of the ways and means
committee. and Mr.. Reed, chairman upon
the part of the republicans; NJ. Springer.
chairman of the banking and currency COM
mittee, and the chairman upon the part OF
the republicans, and submit the case to
them. Ask them what they would advise.
They would agree unanimously In thirty
minutes upon a measure that might be car
ried through Congress in forty-eight hours,
thoroughly satisfying the country, and
which would be in accord with the best eco
Monies and the best politics as distinguish
ed from Objectionable party politics-politics
as a synonym for craftsmanship. In other
words, party contests on such questions are
thoroughly disgraceful to this country, as
they would be considered in England, France
or Germany. The treatment Of such Ques-
tions in the manner they are being treated
and have been treated is thoroughly dis
graceful to the country.
when Mr.. Window was Secretary Of the
Treasury he was under the great strain of
being severely let alone, feeling that he
was absolutely Isolated from the great rev.
enue committees and money committees of
the two Houses and their attitude toward
him was such that he did not feel at lib
erty to invite them to his office to conf
dentially consult them, and 1t seems that
Mr. Carlisle has not the courage to do SO.
This thing ought to end. and the Secretary
of the Treasury, whichever party Is in
power. ought to assume, and his party de-
fend him in 1t, that the questions of finance
are not party questions"