The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-01-17
Carlisle Not to Have New Au-
thority Given to Him.
HE CAN ISSUE BONDS NOW.
A Statement by Members of the Senate
Committee on Finance.
Wilson Getting Along Very Slowly with
His Amendments To the Tariff
Bill-special Trouble with the Wool
echeduis-Havai ain Agaia In Senate.

wAsHISGroS CRY. Jan. IA meeting
OF the senate finsnce committee was neld
this afternoon for the purpose of consider
ing Secretary Car.isle's letter and bond
bill After the conclusion of the meeting
Mr.. Voorhees,, as chairman of the commit
tee. handed an Associated Press reporter
the statement given below. In making it
be did not assume TO represent the views
OF the entire committee. and he knew of
opposition in the committee to the opin-
ions expressed, but submitted the state
ment to the full committee before giving 1t
to the pubic. 1t is as follows:
THE embarrassed condition OF the treas
ury and the necessity for prompt action
for its relief is fully realized. There is
not the slightest ground. however, for ap-
prehension that the public credit will snf-
fer or be endangered. for the reason that
ample authority already exists by Law for
the secretary of the treasury to strengthe n
the coin reserve TO any extent required
and meet every demand that can be legiti-
mate. The power OF the secretary for the
issue of bonds needs nothing beyond what
Is given by the act of January IL 1875.
The only desirable object to be attained by
new legislation at this time is to make =
shorter time bond with lower rate of in
sSACob, 3tt VIC icSsS as
sured that he can negotiate bonds
issued under the act of 1875.
running only ten years, on practically )
per cent. basis. Ii seems, therefore, that
IL will be wiser, safer and better for the
financial and business interests of the
country TO rely upon the existing laws,
which meet the present emergency, rather
than encounter the delays and uncertain
ties always incident TO q protracted dis
in ha nF
This view of the condition of the treasury
admits of little. If any, delay and no an-
certainty at all in the final action to be
taken.
1T would be trihing with a very grave
affair to pretend that new legislation con
corning the issue of bonds can be accom-
plished at this time and in the midst OF the
present elements and parties in public life
without elaborate, extensive and practi-
cally indefinite debate. Ii is also obvious
to every one that consideration and dis
cussion of the tariff now going on will
render any financial legislation at this
time far more difficult and complicated
than might be under another and different
circumstance.
1T is proper to say that the senate
finance committee for several weeks has
had the subject under consideration. and
the bill submitted by Carlisle has been
examined and discussed with the greatest
care.
"The interest at tie committee will by no
means be abated from this time forward
The fact that much remains TO be done is
fully recognized. Whatever deficiency In
the revenues may exist during the cur
rent fiscal year it will be promptly pro-
vided for by appropriate and efficient
legislation at the earliest moment"
The senate finance committee author
ized Voorhees, to introduce Carli.e's bill
in the senate and also TO present the letter
from the secretary for the consideration
of that body. This authorization as to
the introduction of the bill is not intended
to mean. however, that the committee has
decided to make an effort to pass the bill
through the senate. or that it has given it
further Endorsement than TO allow il to be
printed and returned to tho committee in
the regular way for considera ton.
1t is reported on fairly good authority
that Carlisle intends to issue on February
enough bonds to restore the gold reserve.
IL is said that he will issue 5 per cent.
bonds, as they are OF shorter term than
the As or AS. The issue will probably
be about $40, 600, 900. Fifteen separate Of
ters. aggregating about $40, 0oo 900. to take
the bonds, should the secretary issue
them. have been received at the treasury
department One offer to take n block of
SIS ooo, ,oo0 was received from New York
firm this morning.
Bland says the Carlisle letter. urging i'm
mediate issue of bonds. raises the bond
issue very sharply as against the pending
Bland bill TO coin seigniorage. 1T is a
plain proposition to run this government
on bonds" said he. land in nv locality it
wonid damn any administration for all
time TO come if executed. do not think
the secretary has the power to issue bonds
under the present law"
Bsi!ey's resolution, introduced yester-
day, to restrict the secretary's power on
the issue of bonds has gone to the judiciary
committee. Ii is understood that the
resolution, which is antagonistic TO a bond
issue. viii be favorabiy reported.