New-York tribune., 1895-02-12
CARLISLE MUST EXPLAIN.
SUMMONED TO APPEAR BEFORE THN
WAYS AND MEANS COMMITTEE.
THE MEMBERS WANT THE FULLEST 1NFoRhA'
TIoN ABOUT THE CONTRACT WITH THE

TIoN ABOUT THE CONTRACT WITH THE
BANKERS SYNDICATE.
Washington, Feb. 11.-Secretary Carlisle VIII
be asked to appear before the House ways ana
Means Committee tomorrow and lay before the
members a copy Of the contract recently mace
with the syndicate 70: the purchase OF the new
issue of Government bonds. That this invita-
ton should be sent to him was the conclusion
reached bv the committee after session Of an
nour and half to-day.
When the committee met. Mr.. Bynum, OF In
diana. who offered resolution at saturdays
meeting favoring the issue OF a thrty-year
per cent gold bond, withdrew 1t without conn
ment Thereupon Mr.. Wilson. OF West virginia
the chairman Of the committee, laid before the
members a proposition in writing which. while
lacking the form Of resolution, empodeu tno
essential character of such measure; looking
to the authorization Of the President to nego-
tiate this specific loan at per cent, payable In
gold and prohibiting tn Secretary Of the Treas
ury from using 1t for current expenses, but only
as a reserve for the greenbacks. The term OF
years for which the bonds might run was not
mentioned. This led to general dIscussioh'
some of tie members holding that the President
in his mes ge had said chat II must be thirty
year bond.
Representative Bourke Cochran, of New-York,
who came to Washington this morning to attend
the meeting of the committee at once opposed
the suggestion of a thirty-year bond. He argued
that II was unnecessary, but stated at the same
time that he was willing to support any propo-
siton looking to the maintenance Of the credit
OF the Government. MIR. Cochran then offered
resolution (Which wen. over authorizing the Sec
retary of tie Treasury to buy gold and silver
bullion in such amounts as may enable him TO
maintain the parity of the two metals and the In
tepr;tv OF the gold reserve. and issue bonds Tor
thu gold or silver bullion purchased. provided
that the same metal purchased shall be returned
at stated peiiods fixed in the bond at per cent
interest for the use of the bullion offered.
It also came out in the discussion that on tho
day the contract was alleged to have been mace
with tho syndicate per cent bonds were selling
in New-York at 6 per cent more than was offered
for the proposed new thirty-year loan.
The question was then asked OF Mr. wilson
how it happened that the President could nesoti-
ate such loan with his friends Messrs S'etsoh
and Morgan representing the Rothscniids OF
Europe for a thirty-year bond at TINS oiHerehce
between the price offered and the quotations for
4 per cents in New-York that day. Mr.. WILSON
replied that he did net know. This led Mr.. Hop
<ins. of Illinois one OF the Republican members
Of the committee TO move that Secretary Carlisle
no asked 10 come before the committee this after
noon and lay before them copy OF the CONTRACT
made with the syndicate He added that 1t was
only proper that the Ways and Means Commit
toe ~ the House. which was called upon to lesis-.
late in this matter, should be in possession OF the
fullest informa ton not only regarding the con-
tract but the circumstances under wnch IL was
made so that the committee could vote ihtein'
gently upon IT, This proposition was seconded
by Mr.. Cochran. and after brief debate was
carried the only opposing votes being cast by
ur Rvnum of Indiana and Mr. Turner, OF
Georgia.
racess was then taken. and a telegram was
sent to the Secretary advising him OF the COM
,,,i,.ea,s action and asking him II he would COM
ply with IT.
.,tar some little delay reply was received
stating that the Secretary temporarily ao-
cent from the department and might not return
until a late hour in the afternoon. The commit
700 then adjourned until 10 O'Clock tomorrow
morning with the understanding that the Secre-
tarv would be communicated with in the mean
time and an endeavor made 10 secure his pres
at that hour
Mr.. Cochran viii tomorrow offer the following
resolution in the House:
Resolved. Whenever it appears 70 the secretary
Of the Treasury that an additional supply OF goid
or silver is necessary to the Treasury TO ehaoe IL
to maintain the parity between the various COINS
and forms of money Of the United states as re-
ouired bv the law the said Secretary is hereby
authorized 10 procure such gold or silver as may
be necessary for that purpose oy ISSUING .ne,e ~
obligations Of the United states conoitloheu ioi
the return of = like quantity OF the same metal
as NAV have teen thus obtained, ana Tor the
transfer to the holder of such Obligations OF az
additional amount Of said metal not 10 eAceeo
per cent of the whole amount thus oo'aiheu'