The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-02-20
lMTERROGATlNG CARLISLE.
The Secretary Before the Committee OF
Ways and Means.


Ways and Means.
WASHINGTON, Feb. 13.-For three
hours today the ways and means COM
mittee of the House was in session.
For two hours of this time, Secretary
Carlisle was before it. He furnished
the committee copy of the contract
made between the administration and
the foreign syndicate which recently
agreed to purchase the new bond IS
sue. The contract was very short, but
at the Secretary's request, a resolution
was adopted by the committee that
none of the proceedings connected
with this document should be made
public. The Secretary was subjected
to running fire of questions from the
members present. Mr.. Gosvenor, of
Ohio. wanted to know why these
bonds are to be sold to the syndicate
at price six per cent. below the quo
tatlons of the fours. The Secretary
replied that the administration had
made the best terms with the syndl-
cate it could.
Being asked if an attempt had been
made to secure the sense of the coun-
try upon it, the Secretary replied IN
the negative. This precipitated a dis
cussion in which the attitude Of the
administration was severely criticised
not only by Republicans but by GER
tain of the Democratic members as
well. Before leaving Secretary Car
Isle suggested that a proposition be
reported from the committee to re-
lieve the Treasury from redeemlng
national bank currency and compell-
ing the banks to establish an agency
for the redemption Of their own cur
rencv. The effect of this proposition
would be practically to restore the law
as it stood before 1874.
Mr.. Tarsrey, of Missouri, offered a
resolution that power be given to the
administration to issue a 3 per cent.
cold bond whenever such action be-
came necessary to protect the gold re-
serve IN the Treasury. 1t also pro,
vided that none of this money should
be used for the current expenses OF the
government. 49,,
The resolution offered by Mr.. vii
son. of West Virginia, the chairman
of the committee, Yesterday, looking
to the issuance of $50, 600. 900 of bonds
PAYABLE in gold also came up for con-
sideration. and it drew from Represen-
tative Bourke Cochran, of New York;
an emphatic declaration that ne would
oppose this proposition and any other
which looked to the endorsement OF
the contract with the foreign syndl-
cate.
| Messrs. Reed and Hopkins, between
them. questioned Secretary Carlisle at
considerable length regarding the nee,
essity for an issue Of gold bonds. Did
he think that such an issue of bonds
would stop the drain OF gold and
would not some of the money be used
to meet current expenditures: They
also asked about the estimate receipts
of the government for the remainder
of the calendar year, and if the Sec
retarv really believed there would be
surplus within the next eight or ten
months. The Secretary answered these
questions frankly, and coming back
again to the question of contracting
| for the sale of the bonds, he insisted
that no favoritism had been shown
that the administration had consulted
with the leading Eastern bankers up,
on the subject; had made the best
| towns + conld and would have done
better.
After the Secretary's Withdrawal
from the committee room, the various
propositions pending were ordered to
be referred to subcommittee, 10 be
reported to the full committee later III
the afternoon. The Democratic mem,
bers of the subcommittee are Wilson,
Turner and Mryan, Payne and Hop
kins were added on the part of the Re
publicans, but it was subsequently
agreed that the Republican members
of the committee should select then
own representatives. After the com,
mittee adjourned the Republicans met
informally and selected Reed and
Hopkins.
| Later in the afternoon fuller details
of what occurred between Secretary
Carlisle and the committee became
public. Secretary Carlisle explained
| his reason for asking that an lnJunc
ton of secrecy be observed regarding
the terms of the contract on the grouno
that if the manner and time of paying
for the bonds were made known, bank
ers and others might corner the golc
which the syndicate must procure tc
paw for the bonds, and thus greatly
embarrass them. AS a matter OF con
sideration for the syndicate, therefore
he preferred that nothing should be
said outside of the committee room re
earding the contract, although he ad
| ded that so far as the government i
concerned, there is nothing to con
ceal.
At one point in the hearing Mr.. Rec
referred to the drain Of gold from the
Treasury and repeated the argument
that has frequently been made that i
the green backs were retired, the golc
reserve would not need further re
plenishing. Mr.. Carlisle then inform
ed the committee that under the law
of 1874, National Bank notes may be
offered at the Treasury department
and redeemed in greenbacks.
It was for this reason that he subse
quently suggested that an a. endmen'
be made to the law which will relieve
the Treasury from redeeming the ma
tional bank notes and compelling the
banks to establish an agency for the
redemption of their currency. No III
considerable part Of Secretary Car
Isles remarks had reference 10 Til:
provision of the national bank law
upon which the members seemed Il
desire the fullest information arc
which he gave them in detail.
Disastrous Storms.
HALIFAX, y. S, Feb 15.-Iele
graph advises received from South
Bay. Cape Breton, state that the place