The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-01-17
Secretary OF the Treasury Has Au-
thoriiY 10 Issue Bonds and
Needs Money.
Finance Committee OF the Senate
Tacitly Approves Such Line
OF Action.
Condftisn Of the Treasury Admits OF Lit
ale N Any Delay Current Deficiency
will Ba Met.

WAsHTSoToS Jan. 1G A meeting Of the
senate finance COMMITTEES vas held this
afternoon for tho purpose Of oonsidsraina
ssoretaTy Carlisis's letter and the bond
bill. After the conclusion Of the meeting
Mr.. VOORHEES,, a. chairman Of the commit
Tee. handed an Associated press reporter
the statement given below. In making IL
he ssii he did not assume 10 represent the
views Of the entire committss. and yet
knew Of no opposition in the committee to
the yisws expressed. lie submitted the
statement 10 the full eommittse before Civ
ing II 20 the public. II is as follows;
"The embafrasssd condition Of ths treas
ury and the necessity for present action for
relief is fully recognized. Thsfe is not Abe
slightest ground for apprehension that
public credit vill suffer or be endangered.
for the reason tnAt ample authority nj
rsEdy exists by Law for the secretary Of the
treasury 90 strengthen the coin reserve 10
any extent required and to meet every de-
mand that can be legitimate. Ths powers
OF the secretary 70 issue bonds needs moth
Ing beyond what is given by the act Of Jan.
10. 1876 The only desirable object 10 bo
attained by new legislation at this time 10
60 make a shorter time bond with lower
rate Of interest, yet the secretary fsela hs-
"a ed that be can negotiate bonds issued
under she not Of 1875. RAINING only ten
years. on practically three per cent bssis.
II seems. tbsrsfo 9. that IL will be wiser.
safer nHd better for the financial and busi-
ness interests Of the country 20 rely upon
existing laws, which meet the present emsr-
Rency, rather than encounter the delays
and Uncertainties always incident 20 u pro-
tracted discussion In ths two houses Of con-
gfesA This view Of the condition Of the
treasury admits OF little IL anJ delay. and
there 10 no uncertainty a. all In the anal
action 20 be taken.
~ would be triflnR with q very grave
affair TO pretend that neV legislation con-
corning an issue Of bonds can be accom-
/ plished AZ this time and in the midst OF the
| present elements and parties In public life.
without elaborate, extensive and practically
/ lnde6nite debate. It is also obvious 90
every on3 that considerations and diUusaien
of tns tarifi, now going on, will render any
I financial legislation AZ thus time far mOis
lificult ana complicated than might be
under another and different eitoumstancs.
/ II is proper 20 say that the senate f.
nance committee for several weeks past
/ has had she subiset under almost constant
/ consideration. and the bill submitted b.
Carlisle has been examined and discussed
with the grsatest care. The interest Of the
committee will By no means be abatsd
/ from this time forward. The fact thAt
much remains to be done Is fully rscOg-
niEsd. Whatever dohoiency In Isvenoss
| may exist during she cur ent fiscal rear
will be promptly provided for By appfopri-
ate and ellioient legislation az the earliest
moment"
I Tue senate finance COMMITTEES authorized
Voorhees, TO introduce the Carlisle bill IN
/ the senate and also present the letter from
the secretary for the consideration Of that
hody. which was done. This authorization
\ as 10 the introduction OF the bill 10 not in
tended 80 mean. however. that ths commit
| tee has decided to make an effort TO pass
| the Dill through the senate. or that 10 hAs
/ given it further endorsement than 20 allow
/ ID to be printed and referred to n commit
tee in the regular way for consideration.
II is reported on fairly good authority
| that Carlisle intends TO issue, Feb enough
bonds 10 restore abe gold reserve. IL 10
ssid he will issue nvs pes cent bonds. ~
they are OF shorter - IN than she fOufs OF
as. The issue will probably lie about
S40.O00,0 90.
Flftsen sspArste offers aggregatina Si0.-
/ 600 OO0. TO take bonds. should this secretary
I lssus them, hRvs been received ~ the treSs-
ny department. One offer b. taks a block
] OF S25. 600 COO vas received from a New YORK
/ firm this mo ming.
Bland says Carisle's lstter urging an i'm
mediate issus OF bonds raises ths bond
issue very sharply as against tho pending
Bland bill 90 o0in abe seigniorsge- IA 10 q
plain proposition 10 run this government
| on bonds" said he, land In my locality 10
would damn any administration for all
time 10 TO come ~ executed. l do not think
the secretary has power 20 issue bonds
under the present law"
Bailsy's resolution. introduced yesterday.
60 restrict the secrstary's powef on the
issue OF bonds has gone 20 the judiciary
COMMITTEES. 10 is understood the Tosolu-
tion, which 10 antagonistio 30 the bOnd
issue, will be reported favorably.