The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1895-02-20
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lNTERROGATlNG CARLISLE.
Tho Secretary lsoforo tho Committee of
Ways and aeans.

| ~ fA'SAoio tuo OOiItbhlGtcO Oh
Ways and Means.
| WASHINGTON, Feb. 10. For three
hours today the ways and means com
mittec of the House was in session.
For two hoiirs Of this time, Secretary
Carlisle was before it. He furnished
the committee copy of the contract
made between the administration and
tho foreign syndicate which recently
agreed to purchase the now bond is
sue. Tho contract was very short, but
at the Secretary's request, q resolution
was adopted by the committee that
mono Of the proceedings connected
with this document should be made
public. Tho Secretary was subjected
to running fire of questions from the
members present. Mr.. Gosyenor. of
Ohio, wanted to know why these
bonds are to be sold to the syndicate
at n price six per cent. below the quo
tatlons Of the fours. The Secretary
replied that the administration had
made the best terms with the syndi-
cate it could.
Being asked if an attempt had been
made to secure the sense Of the coun-
try upon it, the Secretary replied in
the negative. This precipitated Il dis
cussion in which tho attitude Of the
administration was severely criticised
not only by Republicans but by Ger
tain Of the Democratic members as
well. Before leaving Secretary Car
Isle suggested that d proposition be
| reported from the committee to re
lievo the Treasury from reteeming
national bank currency. and compcll-
ing the banks 10 establish an agency
for tho redemption Of their own cur
rcncy The effect Of this proposition
would be practically TO restore tho law
as it stood before 1874.
Mr.. Tarsney, of Missouri, offered a
resolution that power be given to The
administration TO issue 3 pep cent.
gold bond whenever such action be-
came necessary to protect the gold re.
serve III the treasury. Tt also BRO.
vidcd that none Of this money should
DC used for the current Expenses Of The
governments
Tho resolution offered by Mr.. Will
son, of West Virginia, tho chairman
Of the committee, Yesterday. looking
to the issuance Of $62, 900, 600 of bonds
payable in gold also came up for cor
sideration. and it drew from Rcprescn-
tativc Bourkc Cochran, Of New York,
an emphatic declaration that he would
oppose tllis proposition and any other
which looked to the endorsement of
the contract with the foreign syndi-
cate.
Mcssrs Reed and Hopkins, between
thom. questioned Secretary Carlisle at
considerable length regarding the nee
essity for an issue Of gold bonds. Did
/ -, II ~ trp1 -, <>c
would stop tho drain Of gold and
to meet current expenditures? They
also asked about the estims to receipts
Of the government for the remainder
of the calendar year, and if the Sec.
retary really believed there would be
a surplus within the next eight or ten
months. The Secretary answered these
questions frankly, and coming back
again to the question of contracsins =
for the sale Of the bonds, he insisted
that no, favoritism had been shown
that the administration had consulted
with the leading Eastern bankers up-
Oh tho subject; ND made the best
terms it could and would have done
better.
|. After tho Secrctary's Withdrawal
from the committee room, The various
propositions pending were ordered Ia
be referred to Il sub committee, to be
reported TO the full committee later in
the afternoon. The Democratic Nom
bcrs Of the sub committee are Wilson,
Turner and Mryan, Payne and Hop
kins were added on the part Of the Re
lpublicans, but it was subsequently,
agreed that the Republican members
Of the committee should select their
own representatives After the com
mittcc adjourned the Republicans met
informally and selected Reed and
Hopkins. D;
Later III the afternoon fuller Details
Of what occurred between Secretary
Carlisle and the committee became
public. Secretary Carlisle explained
his reason for asking that an iniunc-
ton of secrecy be observed regarding
the terms Of the contract OH the ground
that if the manner and time Of paying
Tor the bonds were made known, bank
crs and others might corner the gold
which the syndicate must procure to
pay for the bonds, and thus greatly
cmbarrass them. AS matter Of con
sideration for the syndicate, therefore,
he preferred that nothing should be
said outside Of the committee room re
garding the contract, although he adj
ded that SO far rs the government is
concerned, there is nothing to con
ceal.
AT one point in The hearing Mr.. Reed
referred TO the drain OF gold from the
Treasury and repeated the argument
that has frequently been made that il
the grccnbaclSs were retired, the gold
reserve would not need further re-
plcnishing. Mr.. Carlisle then inform
cd the committee that under the law
OF 1874, National Bank notes may be
offered at the Treasury department
and redeemed in grecnbacks.
1t was for this reason that he subsc-
qucntly suggested that an amendment
be made to the law which will relieve
tho Treasury from redcoming tho M
tional bank notes and compelling thc
banks to establish an agency for the
redemption Of their currency. No in
considerable part Of Secretary CAR
isles remarks had reference 10 this
provision Of tho national bank law
upon which the members seemed to
desire the fullest information and
which he gave them in detail.
Disastrous storms.
HALIFAH, N. S., Feb. 15.--Tele-
graph advises received from South
Bay, Cape Breton, state that the place
has been wiped out of existence by the
storms Of last week. The property
washed into the sea Includes fish
hoi)ens whn,vac, boofnu ef~,oe o,>I