The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-02-01


should be brought up standing and
showed the limits of their lawful
power
The authority of the Secretary to is
sue bonds in the manner proposed has
not been definitely settled in the de-
cision of Judge Cox But it is a step
in the direction of the recognition of
his right to do So There is quite a
conflict of authority on the question
and also on the propriety of the issue
apart from the legal question involved.
Among the press opinions on this lues-
ton are the following, which are
worthy of consideration:
Before any more bonds are offered.
Congress should order the coinage of
the seignorage silver.-St. Louis Re
public pem.)
If any additional money should be
really needod in the meantime it could
be procured without any Congress
sional action by coming the seignorage
silver bullion.-Denver Republican
Rep.)
Mr.. Carlisle has again shown his
fidelity to the interests of the people,
and that rare quality of craftsmanship.
the ability to apply general principles
which are undisputed to requirements
that have not been foreseen.-New
York Times (Dem)
When the counsel employed by the
knights Of Labor come to look more
closely into the subject, they will find
that the courts of the United States
never enjoin the president or members
of the cabinet from executing the laws
Of Congress.-New York Evening Post
1nd).
The financial demagogues in Congress
would like to embarrass the country's
finances simply for political purposes.
Nj. Carlisle deserves recognition for
the stand he has taken. He intends
to preserve the country's credit, even
though demagogues of his own party
may do their utmost to prevent him
Cincinnati Times-star (Rep).
The question in the matter of selling
bonds to meet the deficiency in the
revenues is not one of experience, but
Of necessity. The secretary has adopt
ed the only alternative within his
reach. The blame for it rests elsewhere
than on the officer who has been
driven to it against his wishes and in
spite of his earnest appeals for author
ity TO- solve the problem in a better
way.-St. Louis Giobe-Democrat tRep9.
1t is no credit, surely, to the Demo-
Gratis that, having full control of both
branches of Congress and being ur-
gently advised by a secretary of the
treasury of their own political faith.
hHx hoy +1I 70
ity asked for and compelled the secre-
tary, when the situation would no long
or brook delay, to do the best he could
with such authority as he does possess.
That he has authority to issue these
bonds may be Providence
Journal Qnd)
Secretary Carlisles proposals for a
bond issue have, on the whole. received
a favorable reception in financial cir
cles. There especially, there is regret
that Congress had not seen fit to grant
fresh powers to the treasury beyond
those embodied in the act of 1875. The
general impression, supported by the
latest advices from Washington. seems
to be that the loan will be over-sub-
scribed, and that the tenders may reach
prices c9~rying the average return
upon the bonds to rs low as az per
: y IL IL aus ct" :.
Being in need of money to pay its
just debts, the government has two
legitimate ways to get it. One is to
levy more taxes and the other is to
borrow the funds. The first is imprac-
ticable because it will take too long to
levy and collect the additional taxes;
the second is objectionable, because it
is always Objectionable tos incur debt
But the second will be no greater bur
den than the first would be, and
in the present emergency it is the only
safe and effective way left to us to
meet our national igations.-Louis-
vile Courier-Journal (Dem.)
The present charging deficit of the
national treasury never would have ex-
listed if it had not been for last sum-
mer's panic, which caused a great fall
ing off in imports, and consequently a