Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-25
THE FINANCIAL SITUATION
Its Gravity is Fully Appreciated at the
Capitol
No One Seems Disposed to Make q
Movement for Relief-Where the
Only Clean of Hope Lies.

There is no lack of appreciation at the
| Capitol of the gravity of the financial sit
| uation and the embarrassment to the
Treasury Department resulting from the
| rapid withdrawal of gold. The necessity
| in the matter amounts almost to excite
| ment, and there is universal opinion that
some legislation must be had Yet no one
seems able to take hold Of the matter and
assemble the forces for action. A few still
| have q general hope that something may
| be done, but these are entirely at loss
| to suggest what action might possibly be
| had.
The plan, which has the approval OF some
| of the members of the committee on bank
ing and currency. has been submitted te
the President for consideration. but &c
| opinion from him on the subject has vel
| been received.
The fact that the gold reserve has al
! ready been reduced to s5SOO0,OOO, and that
| the department is liable not to be able to
| coir, the gold bars fast enough to meet the
| demand, impresses everybody with the u
| gent necessity for action, but each seems
| to think that 1t lies with some one else to
| solve the problem, and the cogttations In
dulged in do not seem to be productive OF
| anything that promises legislation.
Some Method May he -Four d.
Some men who have not heretofore taken
| any active part in trying to secure legisla-
| ton are giving the matter careful attention
now, and it is intimated that a measure
| may possibly be offered as an amendment
to one Of the appropriation bills providing
| method for the retirement OF the notes
which are now drain on the gold and af-
fording means for immediate relief to the
treasury. The democrats are fighting shy
of any proposition to increase revenue,
since it is known that the administration
does not deem such an Increase necessary:
Their aim is to save the gold reserve, and
1t is In this that they are entirely without
the sympathy of the radical silver men,,
who contemplate with complaceEcy the
prospect of the treasury being driven to a
silver basis. One of the strong gold men
on the banking committee said to a repre-
sentative of The Star today that he had
no hope of anything being done and that
he believed that the gold in the treasury
would soon be exhausted and would be re-
duced to a silver basis.
Republicans Have Not Changed Attf-
tude.
The failure of the republican caucus of
Senators to take action today is significant
or1y Of the fact that they have not chang
ed their attitude. The majority Of the re-
publ1cans believe that it is not their duty
to take any action, and that they would
not be warranted in taking the initiative
but they are anxious to have it known that
they are assuming q patriotic position and
are willing to favor any financial legisla-
ton which will relieve the treasury, and
that they cannot possibly be blamed for
the failure of legislation.
But they do not feel themselves to be IN
position to frame a policy upon which
Congress would make a vigorous fight
When they have power and responsibility
their leaders say that they will not shrk
their duty. but to do it now would be- they
think, fruitless. A few of the conservative
eastern republicans advise that party lines
be ignored entirely in this matter but this
might involve a split in their own party
which would, in measure ALLEVIATE the
radical silver men from their collea CUES in
the east. They are of the same party
faith.
Where n Clean of Hope Lies.
There is no hope Of legislation emanat-
ing from either Of the financial committees
but some of the members still hold to the
optomstic idea that some thing will be
done, but expect this to result from some
sudden gathering together of men on the
floor of the houses of Congress to put
through a relief measure by a sudden inn
pulse. But the hope of anything being
done in the eleventh hour is based upon
the assumption that the circulation will
get so very bad that Congress will swallow
some proposition suddenly without stop
ping to IT