The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-03
His Currency Scheme, They Claim, lis
Depreciating the Holdings of the
Late Stewart Syndicate.
CHANGES MUST BE MADE
OR GOLD WILL BE FORCED TO A
PREMIUM BY WITHDRAWALS.
Mr.. Cleveland Said to Be Preparing a
Message to COnEress-PropOsed Law
Partnership with Carlisle.
Special to the indianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON, Jan. 2-Congress,
vening tomorrow will find itself confronted
with situation verging closely on a crisis.
The financial world, wearying at last of
the present amateurish attempts of re-
forming the currency by chimerical schemes
which their authors abandon almost as
fast as they create them, has demanded
that stop be put to it all, and, the fore
most and first step toward a return to con-
fdence in the nations credit, that the
administration of the treasury be placed in
other hands. This demand crystallized Sat
urday in the demand of two of New Yorks
most prominent bankers-Messrs Morgan
and Lanier-that President Cleveland re-
quest Mr.. Carlisle's resignation Secre-
tary of the Treasury. Messrs Morgan and
Lanfer arrived in Washington Saturday
morning. To avoid publicity they came from
New York in Mr.. Morgans private car,
thus stunning hotels. They saw Mr.. Cleve-
land in the forenoon and lost little time
in frankly explaining the purpose of their
visit, COUGHING their ultimate demand, of
course, in tactful words. Mr.. Morgan re-
viewed the recent events in connection with
the dissolution of the Stewart bond syndi-
cate; how that syndicate had come to the
relief of the treasury by buying the bonds
at a figure most satisfactory to the Sec
retary; how it had kept it's promise that
none of the purchase money should oe
drawn from the meagre gold reserve; how,
almost on the heels of the bond ISSUE
came the first Carlisle bill in the House.
followed by a substitute which, if that
were possible, was more obnoxious to the
financial world than the original; how Mr.
Carlisle had announced before the banking
and currency committee that third bond
issue was impending; how the inevitable
result of Mr.. Carlisle's course had been
a complete loss of confidence in the gov
ernments financial wisdom, a fact plainly
indicated by the constantly falling price
of the bonds until at last syndicate that
had taken the issue saw itself threatened
with loss in disposing of the bonds. He
drew attention to the unprecedented with
drawals of gold from the treasury, indicat-
ing beyond all question the grave appre-
hension felt in financial circles at the
condition Of the treasury. Mr.. Morgan fin
ally indicated that the burden of this ap-
prehension, which threatened to assume
even graver proportions in the near future
lay in a lack of confidence in Mr.. Carlisle
The conclusion to be drawn from his words
was unmistakable. Stripped of diplomacy,
it meant that unless Mr. Carlisle re-
| placed by secretary in whom the financial
world felt confidence, the run on the treas
ury would be continued until the govern
ment must suspend gold payments Indeed,
it is stated tonight, that Mr.. Clevelands
visitors indicated that unless Mr.. Carlisle
resigned the gold Withdrawals would in the
new year, exceed even those of the last
Mr.. Cleveland listened attentvely to what
his visitors said and then politely bowed
them out. That the gentlemen were in dead
ly earnest was indicated half an hour after
this mornings banking hour. Announce
ments of gold to be exported, or rather
to be withdrawn from the treasury, poured
in on the treasurer to-day until this after
nounced. There is every reason to believe
that similar sum will be withdrawn to-
morrow, so that Congress tomorrow will
be confronted with situation that will
put an end to speechmaking and demand
immediate action.
There is the best authority for the state
ment that Mr.. Cleveland will send a special
message to Congress. plainly setting forth
the desperate situation and appealing to
the representatives in both bodies to lay
aside for the time all party feeling and
rescue the country from the sore straits
in which the incapacity of Mr.. Clevelands
party. in every branch of the government,
has plunged it, 1t can also be distinctly
announced that if Mr.. Cleveland's appeal
fails to produce a result in the shape Nof
sound legislation, he has positively de-
termined to convene the lrifty-fourth Con-
gress in extra session almost Immediately
after the present discredited body leaves
the Capitol.
The correspondent of the Journal has the
best assurance that Mr.. Carlisle will not
resign from the treasury Mr.. Cleveland
does not ask his resignation. Mr.. Cleve-
land and Mr.. Carlisle are in perfect accord
ON the crude and iil-digested financial
scheme, which Mr.. Cleveland foreshadowed
in his message and which Mr.. Carlisle de-
tailed in his report. Whatever may have
been their differences in the past. they
are undoubtedly in harmony at preseate