Frederick citizen., 1895-02-15
DECIDES upon A PLAN
Ways and Means Commit
tee Will Help Carlisle.
No Gold To Be Used To Meet the De-
ffciencv in Expenditures-The Time
of Payment Kept Secret--Bimetal-
ism u. clared To Be the Policy of
the Government


Washington, Feb. 13.-The house
committee on ways and means con-
sumed one more of the ten days with
in which the treasury has an option
to make the new bonds payable in
gold. and make decided progress to-
ward an agreement upon a plan to be
reported to the house.
After being closeted for two hours
with Secretary Carlisle, the commit
tee talked over the situation. deie-
gated the framing of an agreement to
a subcommittee OF three democrats
and two republicans, and late in the
afternoon learned that it's sub-commit-
tee had dropped partisan differences
and taken common ground.
The resolution reported by the quln-
tet at the last meeting was one 10
authorize the secretary Of the treas
ury to issue $4,000, 900 in per cent.
bonds. payable in gold, with the pro-
viso that none OF the proceeds shall
be used for current expenses, and the
further provision. requested by Secre-
tary Carlisle. repeating the law which
requires the government; to redeem na-
tional bank notes and requiring banks
10 redeem their notes II the rirst In
stances.
Ca! s'C's ni:.i~tr''i
Inquiry w7- r7dc IL there was a
minority rero-. ard MIR. Reed said
that there WIS 40. although he be-
l.eved a w.sc- RI would be to pro-
.idc fo- ln're&s le the revenues Mr..
Bynum dem, lnfl proposed his res
Ilution rs substitute. Mr.. Wheeler
dem. Alal offered = resolution recit-
ng that Sr.re;ar! Carlisle had ad-
1itied lat TIE il ne of gold bonds
tou!d co., ali future issues to be
.l:de payable in gold. that bimetal-
su Lad hec3 fe lsrsd to be the pol
y % the government, that this would
an aban 3onman; OF himetallism and
-.oref1"a declaring that the committee
'onsiderC3 il eXIejient to adopt the
residents recommendations
Mr.. Bryan Glenn, Neb) offered
other resolution recommending that
e secretary of the treasury should
y all ohi:g ,tions of the government
"!ther gold or silver, Whichever was
@ps: convc 1ient.
After brief discussion the COM
mittee adjourned until this morning.
$ crcta"y iic"urc he Committee.
Secretary Carlisle came before the
COMMITTEES shortly after 10 o'clock. He
presented a typewriter copy of the
contract which had been called for.
II was drawn in legal form. covered
'wo typewriter pages and bore the
signatures Of John G. Carlisle, secre-
gam for j. s. Morgan. Of London: Au-
gust Belmont, for y. W. RotAschild,
and was witnessed by Francis Lynde
Stetson. of New York. formerly Pres
ident Cleveland's law partner.
The principal features of the con-
tract were made known in the presi-
dents message. Upon one point the
secretary particularly enjoined the
committee to maintain secrecy, and
that was regarding the dates for maxi
ing the payments for the bonds. He
asked for secrecy. he said. at the
request of the financiers who have
agreed to take the bonds, and because
they feared that bankers would corner
the gold of the world against them at
the time II would be needed II it was
known and the methods by which It
was to be obtained. Accordingly the
committee adopted resolution pledg-
ing its members not TO reveal the
terms of the document so far as 1t
concerned the payments.
Many questions were asked the sec
retary, which he answered in order.
giving the amounts of all kinds of
money in the treasury and much other
information not new.