Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-12
THE TREASU RY
Its Condition is not Considered BY
Congress.
SECY CARLISLES ANXIETY ABOUT IT.
The Question OF a Bond Issue and
fractional Opposition
THE REPUBLICAN POSITION.

The condition Of the treasury" is the
shuttlecock which is being banded between
the factions in Congress. They are taking
advantage Of this helpless, lean, hungry
condition" to cuff it first on one side and
then the other.
While Mr.. Carlisle is clamoring for relief,
assuring both the House and Senate that
the government is running into bankruptcy
rapidly and that something must be done,
they receive his appeals with a cold and
stony stare. and evince no interest in Civ
Ing the relief sought. There appears to be
very slim chance for any legislative &C.
ton authorizing an issue of bonds. If the
necessities Of the situation compel it. Mr..
Carlisle will probably have to act upon the
authority already given for bonds at a high
Interest. 1t Is held. however by the oppo-
nents of bond issue that, having referred
this question to Congress, Mr.. Carlisle will
not dare to issue bonds on his own respon-
sibility.
The Lines Sharply Drawn.
The lines are very sharply drawn on this
question, and the real fight is one between
'he advocates or bonds. national banks and
single gold standard on the one side, and
TIE advocates OF an income tax. state bank
repeai and silver coinage on the other. The
iatter class regard the poverty-stricken
oonaition OF the treasury as a blessing to
their cause, and believe that IL thew can
prevent an issue Of bonds, the exigencies
OF the case will compel the acceptance of
their proposition Va
iney insist that IL money is to be raised
over and above the present income thew
% VIII not permit It to come from any source
except from an income tax, and that n the
money cannot be derived from this source
as speedily as needed the immediate ex-
igehcy must be met ty the issue of certif,. .
Gates cate against the surplus silver bullion in
the treasury. Their fight is nor so much
on account Of their opposition TO an in
crease of the public debt as a desire to
aVan themselves of this opportunity to
compel the legislation which they wish.
The Republican Position.
There is considerable opposition on IN.
part Of republicans to an issue of bonds
but this opposition has an entirely differ.
ent basis. Their position is that the Har.
rison administration reduced the public
debt materially and that it should he the
policy OF the party to assert and main tain
the wisdom Of this reduction, and not in
permit the democrats to make an issue of
bonds upon the plea that 1t is to meet de-
nciencies brought about by the former ad.
ministration. Mr.. Walkers proposition to
nave the government borrow money in
anticipation Of revenues. on notes for six
months or more equivalent to the 1 o US
OF trade Is very generally favored by the
republicans as contemplat ting no perma-
nent increase In the public debt, and the
probabilities are that IL anything at ali
Is done for the relief of the treasury this
plan will be adopted by way of compro-
mise.
The London Bond story,
Information cabled from London that n
the United States will take action within a
month London banks might be induced to
subscribe for at least half of a proposed
United States fifty million 3 per cent bond
issue. was received with contemptuous
laughter. when shown to treasury officials
this morning.
London banks need not exercise their
minds on this natter said one of Mr.
Carlisle's chief advisers. IF Congress
should give authority to the treasury to
issue per cent bonds, not the slightest
difficulty would be found in floating two
hundred millions or more among our own
people without troubling London to SUBJ
scribe for so small an amount as twenty
five Millions
The matter having been commended to
Congress by the Presidents message and
Secretary Carlisle's report the department,
II is authoritatively said, will await Con-
gressional action. Statements that the Sec
retary contemplates falling back upon the
authority given under the resumption act
to issue and 1-2 per cent bonds are dis
credit.