The morning times., 1895-12-28

Secretary Carlisle was asked last evening
to give his views on the tariff measure now
pending before Congress.
What, in your opinion, will be the effect
upon the financial situation of the tariff bill
passed by the House of Representatives
Thursday" Mr.. Carlisle was asked.
II had supposed" he replied, that very
few could now be found VINO believe that
our financial difficulties were caused by
deficiency i'll the ordinary revenues of the
government or that they can be relieved
py increasing taxes upon the commodities
consained by the people.
These uiificuliies are the necessary re-
suits OF our financial legislation, and they
cannot be removed, even temporarily, by
tariff laws or by any other measures which
do not directly enable the government to
procure the means necessary for the main
tenance OF gold payments"
DO you mink then that Tie bond blli
reported in the House VIII furnish any re-
lief to the Treasury
ONLY ONE REMEDY
Il am satisfied that there is Dut one
permanent remedy for our fihancla! einDar-
rassnient, and that is legislation proVlulhS
for the retirement and cancellation OF the
legal tender notes but, recognizing the
fact that such u measure would require time
for its consideration, and for It's complete
execution II adopted, Lad hoped that Con-
grcss would Immediately take the heces-
sary steps to assist tie government IN Its
efforts To procure and maintain such gold
reserve as may be required TO remove
the uistrust ana apprehension which nave
precipitated the present emergency.
..Iue bill reported by the Committee on
WAYS and NJ cans falls very far short Of
the requirements OF the situation. and It's
passage will not beneficially affect the situ-
alton with which we now have TO deal.
Our difficulties were produced, and have
been prolonged and aggravated by the fear
that. not withstanding all the efforts OF the
administration, we may ultimately lie un-
able to procure gold for the purpose OF
reeeming our notes and consequently be
forced to a silver ba sis, and this fear
cannot he wholly removed until some action
is taken by Congress clearly Indicating IA
purpose to pay all our obligations in gold
when demanded by the holders
CHANCE FOR ECONOMY.
q, - bout 81 6 900 coo III interest could have
been saved TO the people on the last issue
of bonds If Congress had consented to make
them expressly payable in gold, instead OF
coin. This condition is not at all improved
by the pending bill which sun requires All
bonds to be payable In COIN Us hereto
fore. and conIcrs no new authority except
the power TO issue and sell per cent
bonds also payable IN coin. after five years.
witn interest ayable III coin serll-innuaiiy
"At the present t.inc our thirty year +
per cent bonds. with Interest payable quar-
terly are selling in the markets at rates
which yield investors more than 3 per
cent per annuin. and this fact should not De
overlooked III determining whether or not a
five -year 3 per cent coin bond could now
be sold at par, as th" pending bill re-
quires.'
What will be the effect Of the provision
prohibiting the sale of bonds except after
pubic advertisement?
Assuming that a sufficient amount of
gold could be procured in that way, any
Secretary of the Treasury would prefer to
advertise for bids, but it is evident that
there may be circumstances when prompt
action is required in order to preserve the
credit of the government, and i'll such cases
a peremptory provision requiring public
advertisement might defeat the object of
the law and prevent any sale