The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-13
The House Committee Prepar-
ing One for Gold Bonds
WITH cARL'slE's ASSISTANCE.
Senate Finance Committee Reports :
Free Silver Measure.
Asishsr Oae Likely TO Pass-DsfsAs or
ths Cisskship SALARY Grab Appro-
psission In the Hease-LeeisIstfvs
Apprspriatios sll Passed.

Washington City. Feb i2.-Tne house
committee On ways and means con-
snnsu today oGlr more OF the ten DAYS
Within which the treasury has an op-
por1unity 10 make the new bonds bay
able IN gold. and made decided progress
toward an agreement on plan to be
reported to the house. After being
closeted Tor two hours. with Secretary
Carlisle the conlnsttee talked over the
sifuatson, delegated the framing OF an
atsreesnenf 70 sub-cOGnmittee OF three
democrats and two Republicans, and
late IN the afternoon learned that its
suO-comxnittee had dropped partisan
differences and found common ground.
the resolution adopted by the quintette
at the iast ETeetang was one authoriz-
Ing the secretary Of the treasury to is-
sue $6s. 900 In 9 per cent. bonds, pay
able in gold, with the proviso that none
OF the proceeds shall be used for cur
rent expenses, and a further provision
regarding Secretary Carlisle; repeating
the law Which requires the government
to redeean national bank notes, and re-
quirlng banks 10 redeem their notes in
the first instance
Inquiry was made II there was a
minority report. and Mr.. Reed said
there waS none
Mr.. Bryan. DEM, Neb., offered a reso-
luton recommending that the score
tary OF the treasury should pay all OBJ
legations of the government in either
gold or silver. whichever IL was most
convenient to use. After brief dis
cussion the committee adjourned until
l O'Clock tomorrow.
Secretary Carlisle came before the
committee shortly after / o'clock. He
presented copy Of the contract, which
had been called for. 1t was drawn In
legal form and bvre the signatures Of
John q. Carlisle, secretary of the treas
ury; j. Pierpont Morgan. for j. S.
Morgan. Of London. and August Bel
mont, for N. NJ. Rothschild, and was
witnessed by francis Lynde Stetson.
OF New York. formerly President Cleve-
lands law partner. The principal fea-
lures or the contract We're made known
In the presidents message. Upon one
point the secretary particularly en-
Joined the committee To maintain Sc
crecy, and that was regarding the dates
Tor making the payments for the bonds.
de asked for secrecy, he said. at the re-
quest Of the flnanciers who have agreed
20 take the bonds, because they feared
the bankers would corner the gold of
the world against them If the time 1t
would be needed was known ard the
methods by which it was to be OBJ
taineds Accordingly the committee
adopted resolution pledgang its men,
befs not to reveal the terms OF the
document as far as It concerned the
payment. Many questions were asked
the secretary. which he answered in
order.
In answer TO questions he assured the
committee of his belief that a plan
could be devised 10 stop the outflow OF
gold. and OF hts strong hope that the
forthcoming bond issue would main-
tain the gold reserve at It's high wsater
mark for several months.
After the secretary had departed Mr..
Cochran announced that he could not
support Chairman Wilson's resolution,
because 1t was simply a makeshift to
meet present emergency and offered no
neap TO the treasury In the event of
safnilar exsgencfes before the next ses-
sion Of congress. Thereupon Tarsney.
Dem. Mo-, offered a resolution to I'M
power the secretary TO issue per cent.
gold bonds whenever the needs OF the
treasury might require them. with the
rfuviSe that III. proceeds were not to
be used TO pay current expenses.
Then sih~comniittee was appointed
81 draft plan. with Mcssrs. wilson.
Turner. MeMlIiin. Democrats. ana
Reed and Hopkins. Republicans. .s rep
resent tsTsari. and the committee took a
recess 10 ei,able the subcommittee to
uit.s,t