The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1895-01-31
MORE BONDS
viii Be issued Unless Congress
Comes to the Rescue.
Proposition for 4 Temporary Dan increas-
inc in Fnvor-It is Possible to Unite All
tho Different Interests Upon lt-Sil-
yer Men Are to Stand Firm.

WASHINGTON. Jan. 2J.-1nc gOld re-
serve is disappearing so rapidly that
another bond sale must soon be ordered
to restore it to the S1Oo,000,00o limit.
There is no promise of any relief from
congress- or of any cessation IN the de-
1l;.nd for gold export The admins
tration is. therefore, left without any
resource except to refuse the further
payment of its gold, which would put
that metal at premium. or to keep on
increasing the national debt.
That Mr.. Cleveland is not without
hope of relief from the Fifty-third
congress is evident from the fact that
he has not already advertised third
sale of $50, 900, 900 bonds lie evident
" does not understand the inability of
the leaders to agree upon any form OF
currency legislation.
Beyond the presentation of bills ex-
pressing the individual opinions of
certain congressman as to what should
be done. there has been no movement
since the failure of the amended Car
Isle currency bill in the house. Chair
man Springer, it is true, has been vain
" trying to rally his forces, but the
democratic members, most of them to
be retired to private life at the end Of
this congress, seem to have lost all in
tcrcst in public affairs and to be wait
inr only for the release from RESPONSE
bility which will come to them on the
18th OF March.
However. better understanding of
the threatening situation becomes
more apparent every day, and the
proposition for temporary loan con-
stantlv finds increased favor. The issue
of certificates At 4 low rate of interest,
to meet current Obligations, will not
affect the currency problem or the
tariff question Therefore, it seems
possible to unite all the interests upon
it.
In anticipation Of the republican
caucus Friday. the silver senators held
a conference Thursday afternoon in a
corner of the senate marble room.
Gen. Warner, of Ohio. was present
They decided to stand firm in their de-
mand for free coinage and to prevent
any other legislation affecting the cur
rcncy.
Senator Teller said after the confer
encc that the continuance Of the pres
ent policy of bond purchasing to main
tain the gold reserve must come to an
end, as the increase in the national
debt could not go on forever. Person
ally he, like all other republicans.
favored legislation which would per-
manently increase the revenues. But
that seemed impossible in view Of the
attitude of the democratic majority.
The proposition to make temper
any loan was an expedient. but it
seemed to be the only thing upon
which 4 union of forces could be
brought about lie did not believe
that there could be any very deter
mined opposition to bill which mere
ly proposed to make temporary loan.
In his opinion nothing would be done
at this session, however, unless some
such cxpedicnt was resortcd to.
Senator Aldrich vas asked Thursday
what the republican senator's would
do In caucus Friday. He replied that
the admission Of new states be con-
sidcrcd, and he had no doubt that the
disorranizcd condition of the demo
Gratis would be talked over.
The republicans, he said. were unit
in their Willingness to provide money
for the immediate use Of the govern
mcnt in order TO avoid the necessity for
, paying out gold for current liabilities.
With sufficient revenues the treasury
department would be saved from re-
sort 10 the gold reserve and the dan
gers of the situation would be lessened
to that extent.
The scheme for d temporary loan
will undoubtedly be discussed. but the
caucus will not be asked to take dcfn-
lite action on anything,