Arizona republican., 1894-01-17
CARLISLE'S BILL.
The Probable Fate of the Measure
in the Senate.

III ln6 SENATE,
WASHINGTON, Jan. 16.-A meeting of
thetenate finance committee was held
tnis afternoon for the purpose of the
consideration of Secretary Carlisle's
letter and bill. At 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 com mittee and yet he knew of
noopposition in the committee to the
opinions expressed. He had submitted
the statement to the full committee be-
fore giving it to the public.
lis as follows: 1.-The embarrassed
condition of the treasury and the ne
cessity of prompt action for relief is
Efnlly realized, though there is not the
slightest ground, however, for the ap-
prehension that the public 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 to any ex-
tent required and meet every demand
that can be legitimate. The power of
the secretary to issue bonds needs moth
ing beyond what is given by the act of
January, 1875. The only desirable OBJ
ject to be obtained by new legislation at
this time is to make shorter:time bond
with lower rate OF interest, yet the
secretary feels assured that he can ne
gotiate the bonds issued under the act
of 1875, running only ten years, on
practically per cent basis.
"It 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 to encounter the delays and un-
certainties always incident to a pro-
| tracted discussion in the two houses of
congress. The condition of the treasury
admits little if any delay and no uncer-
| tainty at all in the final action to be
taken. 1t would be trif1ing with very
grave affair to prevent new legislation
concerning the issue OF bonds which
can be accomplished at this time and in
the midst OF the present elements and
parties in public life only with elabo-
rate, extensive and practically indef-
mite debate. 1t is also obvious that the
consideration and discussion of the tar
if now going ON will render any fnan-
cial legislation at this time far more
difficult and com plicated than it might
be under another a nd different circum-
stance.
at is proper to say that the senate
finance committee for several weeks
past ha, had the subject under almost
constant consideration and the bill sub
mitted by Carlisle has been examine d
and discussed with the greatest care.
The interest of the committee will by
no means he abated from this time for
ward The fact tnat much remains to
be done is fully recognized. Whatever
deficiency in the revenues may exist
during the current fiscal year will be
promptly provided for by appropriate
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 the
consideration of that body, which was
done. This authorization as to the in
PRODUCTION of the bill is not intended &c
mean, however, that the committee has
decided to make an effort to pass the
bill through the senate or has given it
further Endorsement than to allow it to
be printed and referred to the commit.
tee in the regular way for consideration.