The daily morning journal and courier., 1895-02-12
THE FINANCIAL oUEsrIoN.
It Was Seriously Discussed by Members oi
 the Committee.


 the Committee.
 Washington, Feb. 11.-Secretary Car lisle sent to the house to-day in reply to a resolution a statement showing that the share of the United States 1T the expense of maintaining a protecto rate over Samoa up to the present has been $71, ,S46.
 Secretary Carlisle will be asked to ap. pear before the house ways and means committee tomorrow and lay before the members copy of the contract made with the syndicate for the purchase ot the new issue of government bonds | That this invitation should be sent tc him was the conclusion reached by the committee after a session to-day of an hour and half. When the committee met MT. Bynum of Indiana, who offered a resolution at Saturdays meeting fa- voring the issuance of a thirty-year per cent. bond, withdrew it without com- ment. Thereupon Mr. Wilson of West Virginia, chairman of the committee, laid before the members proposition which, while lacking the form of a res olution, embodied the essential charac- ter of such looking to the authorizing of the president to negotiate this speci- fic loan at per cent, payable in gold, and prohibiting the secretary of the treasury from using it for current ex- penses and only as a reserve for the greenbacks. The term of years for which the bonds might run was not mentioned. This led to a general dis cussion, some holding that the presi- dent in his message had said it must be thirty-year bond. MT Cochran of New York opposed the suggestion of a thirty-year bond. He argued that 1t was unnecessary, but stated that he was willing to support any proposition look ing to the maintenance of the credit of the government.
 MT. Cochran offered a resolution authorizing the secretary to buy gold and silver bullion in such amounts as may enable him to maintain the parity of the two metals and the in tegrity of the gold reserve and issue bonds for the gold or silver bullion purchased, provided that the same metal purchased shall be returned at stated periods fixed in the bond, at 3 per cent. interest for the use of the bullion offered. It came out in the discussion that on the day the contract was alleged to have been made with the syndicate per cents. were selling at per cent, more than was offered for the proposed new thirty year loan. The question was then asked of MT. Wilson how it happened that the pres ident could negotiate such loan with his friends, Messrs. Strong and Morgan, representing the Rothschilds of Europe, for thirty year bond at this difference between the price offered and the quot ations for 4 per cents. in the market. MT. Wilson replied that he did not know
 This led MT. Hopkins of Illinois, one of the republicans, to move that Sec retary Carlisle be asked to come before the committee and lay before it a copy of the contract made with the syndi- cate. He added it was proper that the committee should have full information, not only regarding the contract, but also the circumstances under which it was made so that the committee could vote intelligently. This proposition was seconded by MT Cochran and after a brief debate was carried; the only op- posing votes being cast by Mr. Bynum and MT. Turner of Georgia. A recess was taken and a telegram was sent to the secretary advising him of the com mittees action and asking if he would with it. After delay reply was received stating that the secre- tary was temporarily absent from the and might not return until late. The committee then adjourned