New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-02-01
AUTHORITY FOR THE BONDS.
THE SUBJECT AGAIN UNDER DISCUSSION
IN THE SENATE.
MR.. HoAR ATTACKS THE SECRETARIES PROPOSED
USE OF THE MONEY AND SAYS IT WOULD
MAKE THE BONDS ILLEGAL zee VOOR-
HE'S AND GORMAN APPEAL

,BY TELEGRAPH TO THE TRIBUNE

Washington Jan. 3l.-While Secretary Carlisle
and the Treasury authorities generally con-
graduating themselves on the assured success OF
the new : per cent bond issue. the effort in Con-
gress IS still gathering force to nullify the prac
teal benefits Of the loan by restricting the use
Of the money borrowed TO redemption purposes
pure and simple The interesting discussion on
the Secretary's powers and Intentions started
yesterday by Mr.. Stewards resolution was re-
newed to-day with added vgor and earnestness
The debate resulted in frank expression by such
leaders as Messrs German and Voorhees, on the
Democratic side and Mr.. Hoar on the Repub-
l!can OF important opinions on the new bond
issue.
Mr. Hoar stated very plainly that though he
would support the Secretary in his purpose To
maintain the public credit by all legitimate
means he could not reconcile A proper construc-
ton OF the Resumption act with Mr.. Cariisles
declared purpose 10 us" the proceeds Of the sale
Of bonds to make good current deficiencies in
the Treasury. The issue of bonds with such an
object In view Mr. Hoar attacked as wholly
Illegal and unwarranted carrying with it no
binding Obligation upon the legislative branch
OF the Government To- redeem the Secretarys
pledges. n II was necessary 10 meet The de-
fciency. the Massachusetts Senator demanded
legislative sanction to a sjoOOOoO0 loan to pay
of current obligations. and not try 10 evade rs
duties BY ignoring piece OF cxtra-lega legerde-
main in the Treasury Department
Mr. Gorm1n who attempted to defend the ma
jority for It's lnaction. confessed that he had
ALWAYS opposed the contention that the Score
tary could issue bonds except for the single pur-
pose OF greenback redemption. But In justih-
cation Of Mr.. Carlise's policy the Maryland Sem
ator pleaded the acknowledged difficulty Of secur-
ing from Congress any warrant for a bond
issue Of the sort needed 10 eplensh the cash
fund OF the Treasury Republican legislation,
Mr. German asserted had reduced the Treasury
to its present straits and accordingly pushed the
Administration TO adopting any expcdient that
might come to hand TO relieve It's embarrass-
ments Though disappearing Of the principle on
which Mr.. Carlisle acting. that Of replen-
ishIng n trust fund and then disbursing II
again for current expenses. Mr. German init
mated that he would sustain tn" Secretary's pro-
grarnme on the ground OF urgent political neces-
sty and he appealed to Republican Senators to
take an equally leni"nt view. The charge was
made too. by the Democratic leader that Score
terv Foster had during the last Administrai Ton
used ,he greenback redemption reserve 10 pay
current expenses but this was promptly and
effectively dlsprovcd by both Mr.. Adrich ana
Mr. Allison.
Mr. Voorhees, undertook late in the afternoon
to give his views on the bond issue, nut WIS
NOR, candid than ineligible. His programme
seemed To- resolve itself chiefly into IN" repeated
assertion that anything John Carlisle dir was
right The Stewart resolution. which caused Az
The d,scussion went over without action. and will
be debated again tomorrow .
During a running talk to-day with Mr. sherman
and other Senators. Mr.. German made the sig
nincant statement that the Wilson bill would TO-
practically made over I'm the Senate, ana would
he So altered there as provide sufficient reve-
ntie TO meet all Government expenditures