The record-union., 1894-01-17
Special to the REcoRD-UNIoN.

Special TO the RECoRD-UNIoN.
WAsHIN GToN, Jan. 16.-A meeting of
the Senate Finance Committee was held
this afternoon, for the purpose OF cOnsid-
ering Secretary Carlisle's letter and bond
bill. After the conclusion of the meeting
Voorhees,, as Chairman of the committee,
handed an Associated Press reporter the
statement given below. In making it he
said he did not assume to represent the
views of the entire committee, and yet
knew no opposition in committee to the
statement to the full committee before
giving it to the public. 1t is as follows:
1.-The embarrassed condition of the
treasury and the necessity for prompt
action for It's relief are fully realized.
There is not the slightest ground, how
ever, for apprehension that the pub
lie credit will suffer or be endangered,
for the reason that ample authority
already exists by law for. the
Secretary of the Treasury to strengthen
the coin reserve 10 any eX-
tent required, and to meet every
demand that can be legitimate. The
power of the Secretary for the issue of
bonds needs nothing beyond what is
given by the Act of January, 1887. The
only desirable object to be obtained by
new legislation at this time is to make a
shorter time bond with lower rate of
interest. Yet the Secretary feels assured
that he can negotiate the bonds issued un-
der the Act of 1915, running only ten years,
on practically three-per-cent. basis.
1t seems, therefore, that it will be wiser,
safer and better for the financial and
business interests of the country to rely
upon the existing law with which to meet
the present emergency, rather than en-
counter the delays and uncertainties al
ways incident to protracted discus
sion in the two Houses of Congress.
This view Of the condition of the Treas
ury admits of little if any delay, and no
uncertainty at all in the final action to be
taken.
''It would be trifling with very grave
affair to pretend that new legislation con-
cerning 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
practically indefinite debate. 1t is also
obvious to everyone that the considera-
ton and discussion of the tariff now 60
ing on will render any financial legisla-
ton at this time far more difficult ana
complicated than it might be under diff
ferent circumstances. 1t is proper to say
that the Senate Finance Committee sew
eral weeks past had the subject under
almost constant consideration, and the
bill submitted by Carlisle has been eX-
amined and discussed with the greatest
care. The interest of the committee
will by no means be abated from this
time forward. The Iact that much re-
mains to be done is fully recognized.
Whatever deficiency in the revenues
may exist during the current fiscal year
will be promptly provided for by appro-
pirate and efficient legislation at the
earliest moment"
The Senate Finance Committee author
lied Voorhees, to introduce the Carlisle
bill in the Senate, and also to present the
letter from the Secretary for considera-
ton of that body, which was done. 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 in
dorsement than to allow it to be printed
and referred to the committee in regular
WaV for consideration.