New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-31
GESTION.
[pY TELEGRAPH TO THE TRIBUNE ]

tBY TELEGRAPH TO THE TRlBCNE.I
~Washington, JAN 30-The humiliating failure
q, the Democratic managers in the Senate TO
originate any plan whatever for the relief Of the
Treasury's embarrassment led to-day to
+remely outspoken and pointed debate In the
.deliberative branch" Senator Sherman taking
advantage of the discussion raised to administer
n the responsible Democratic majority one of his
characteristically blunt and candid personal re-
bukes In his vehement and intensely dramatic
way the Ohio Senator heatedy assailed the
Democratic leaders for their indifference TO the
perils which threaten the National credit and
their careless and do-nothng attitude in the face
~ a genuine public crisis. The Finance Commit
tee he declared. bound hand and foot by
the determine ton of the Democratic majority to
extort from the Administration its sanction of a
free silver coinage measure. the price Of any
general remedial currency or financial legislation.
Unless Mr. Sherman continued, the more sober
and conservative Senators on both sides OF the
chamber should come together In support Of
some practical scheme for the relief Of the Treas
ury and discharge the helpless majority of the
Committee on Finance from all responsibility or
authority, there apparently no hope of re-
storing public confidence and checking the pres
ent disastrous strain on the country's credit.
The real problem TO meet Mr. Sherman frank
at once the alarming deficiency in the revenues
caused by the failure Of the Wilson-Gorman law
"a deficiency which had been supplied by
wasteful drain on the Treasury's gold reserves.
II sufficient additional revenue could be obtained
to make good the supply Of gold taken to pay
current obligations during the present fiscal
year. or some further bond or certificate loan
could be foated 10 cover this deficiency. the Ohio
Senator thought that the distress Of the Treas
ury could be tided over. and a return TO normal
financial conditions could be assured.
This direct and earnest appeal from the veteran
fnancier Of the Senate for some sensible and
practical action cleared the air wonderfully II
exposed at once the ill-conceaed antpathy OF
the Democratic side any remedial egisation
which does not open the door to unlimited silver
imitation, and at the same time punctured the
sophistical contention G: the President ana FRO
fessor Wilson that no deficiency exists and tnat
no additional revenue is needed TO re-estabilsh
The solvency Of the Treasury. Mr. Sherman as
usual points the way to the only sensible ana
feasible remedy for the Treasurys distress ana
his powerful authority will weigh justly, 1t Is to
be hoped, with both the opposition party IN Con-
gress and with the Administration IN the con-
struction Of any further measures for the rener
Of the public credit.
Mr. Hill also took rather conspicuous part In
n ths scs at ha
OF the Presidents message which intimates tnat
there IL comfortable surplus Of revenue IN the
Treasury. According TO MI HiiIs loeic here is
a startling deficiency in the Treasury balance for
the current year. and the New-York Senator sar-
donically suggested to-day that the Secretary OF
the Treasury be requested by resolution to show
whether an issue of bonds or of currency certih-
Gates bearing interest Is desired In order 10 sup
Div existing deficiencies in the Governments IN
come. AS both Mr.. Cleveland ana Mr. Carlsic
contend with ostrich-like faulty. that there is
a surplus of $50 100000 or s7OoO0OOO in the Treas
ury. because some s11S.O0O.OO0 in god has been
borrowed during the year and spent IN gIeat
mart 10 meet ordinary Obligations it is hard TO
see how Mr. Hills searchingly ironical resolution
can be reconciled with his supposed attitude as
the especial champion in the Senate OF MI
Ceveland's political and personal policies. The
consideration Of the Hill resolution was objected
TO by Mr. Allen. and 1t went over TIL tomorrow.
as did the debate itself. when the Senate at 2
O'Clock closed its doors foi the discussion OF the
Japanese treaty.
(For the debate In the Senate. see Page H.