Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-28
Is It the Administration or the
Maryland Senator?
TEE CERTIFICATE AMENDMENT FIGHT
What is Claimed by the Friends Of
Both Parties.
THE BOND sYNDICATE's HOLD

Who wins by the withdrawal of the
amendment to the sundry civil bill au-
thorizing the issuance of short-time bonds
by the government?
The battle, though brief, was sharply
contested, and there was even much more
feeling enlisted than appeared on the sur
face. Mr.. German and the President stood
facing each other. On the one side the
Maryland Senator was contending that the
revenues were short and that the deficiency
ought to be provided for in a practical
way, and on the other the President was
resisting. through Secretary Carlisle. what
he considered an adroit effort to drag the
administration at Mr.. Germans chariot
wheel. Both sides profess to be pleased
with the result The friends of the ad-
ministration simply point to the fact that
the amendment vas withdrawn. In their
judgment that tells the whole story. But
the friends of Mr.. German, in support of
their claim that he more than carried his
point, though failing with the amendment,
go into particulars.
What MIR. Gormnn's Friends Sny.
In the first place, as they assert, the de-
bate showed conclusively that the conten-
ton of the Maryland Senator was right
Testimony to that effect came from both
sides of the chamber. Mr.. Sherman and
Mr.. Allison on the one side and Mr.. Cor
man and Mr. Hill on the other took prac-
tically the same view of the question. and
stood ready to support the same PROPOSE
ton. In the second place, Secretary Car
Isle was forced to admit that the SUBJ
stance of the amendment ought to be a
part of the general authority conferred on
the Secretary of the Treasury. but would
not copcede that such a provision was nee
essary at this time. And the friends of
Mr.. German ask. Why? Because, as they
proy hn atrrp y,.1 1t 1t H.
the meshes of money-lending syndicate
and practically under obligations to turn
to that syndicate in all times of money
distress.
the syndicate that declared against ex-
chequer notes or any class of short-ttme,
low-rate obligations to meet treasury wants
This syndicate naturally desires bonds on
It's own terms and has the administration
SO cornered as to be able at present to con-
troll the situation. The friends nf the Mary
land Senator do not believe that in the end
the administration will derive either COM
Tort or advantage from what 1t appeared
to gain on yesterday.
And not only are the German democrats
satisfied with the result, but the repuhH-
cans and the populists are also Mr. Sher-
man and Mr.. Allison are well persuaded
that the terms existing between the admin
istration and the Rothschilds are the better
understood because of this resistance to an
inexpensive character of treasury relief,
while Mr.. PETER and his friends opposed
alike to the syndicates bonds and to ex-
cheQuer notes. see in all chickering's within
the ranks of either of the two old parties
fresh assurances Of the necessity Of new
alignments for all those desirous of sue
ceSsfully resisting the growing domination
OF the eastern money power. So that this
last scrap has developed well all round and
will be likely to contribute valuable ma
terial to the stump in all Of the state cam
paigns of the year.
Resentment ut the Veto Threat.
There is some resentment felt in sena-
torial circles at the open and aggressive
way in which veto was threatened in
case the Senate should adopt and the
House, under pressure, accept the German
amendment More than one official was
quoted to that effect, and more than one
Senator was under strong temptation to
refer publicly to the matter in his place
in the chamber Had there been four
weeks more of the session instead of four
days, the debate most likely would have
taken on this somewhat personal phase of
the case. Several Senators are of opinion
that not even Mr.. Cleveland ever went
quite SO far before in making his views
known in advance respecting pending leg
islation. And when they associate this
with the syndicate in whose interests the
attitude was taken, they feel more out
ragged than ever.
The question is discussed as to how this
action Of the administration affects the
case as regards any further issue of bonds
been protected against exchequer notes,
would it be wise or prudent for that syn
dicate to turn and use its opportunity for
further gain? And is it entirely within the
power of the syndicate to decide that
question? Or has the administration still
some small voice in the premises?
The opinion is expressed that If the mat
ter is in any measure under the control of
the syndicate another bond issue will come
before December. The old argument is
used. Capital has neither politics nor
mercy: 1t is out for the stuff, and it knows
a good thing when it gets hold of it. The
treasury has been emptied of gold several
times, and another transaction of the kind
may easily be executed. The means re-
main at hand in the shape of the green
backs. Business is still unsettled. The
thing may still be explained on the score
that American securities are being receiv-
ed at home for redemption. There is some
uneaSiness felt about the summer 1t is
dull season, when financial squeezes are
easily arranged. Will another run be made
on the treasury gold? And, should one be-
gin, would another bond issue take place?
What Another Bond Issue Would
Mean.
There are many who hope that the syn
dicate is bound fast on this point. They
consider the whole syndicate transaction
without any merit whatever unless it pro-
vides for something of this kind. If the
hard terms imposed are relieved by an un-
derstanding that the government is not
to be forced into the market as a bor-
rover during the recess of Congress on the
score of still further protecting the gold
reserve it will be something for democratic
speakers to talk about during the fall cam
paigns And it is held that whatever the
government can do to keep out of the
market after defeating proposition for
eXchequer notes it must do or bear the
criticism, even from certain democrats, of
having interfered with legislation in the
behalf of usurers, foreign and domestic
Another bond issue, it is asserted. would,
in the circumstances, mean democratic dis
integration all over the south and west.
NEW TREASURY METHODS.
Secretary Carlisle Writes Tint Busi-