The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-28
Figures Presented Showing that the
Millions in His Rosy Statement.
BIG DEFICIT A CERTAINTY
REMARKS OF SHERMAN, HILL,
MILLS, ALLISON AND ALDRICH.
Amendment Providing for Monetary
mmissioners AdOpted-No Dam
ger Now OF an Extra Session.
Special to the indianapolis Journal.

Special to the indianapolis Journal
WASHINGTON. Feb. Ex-senator Cor
man has withdrawn his amendment author
izing the Secretary of the Treasury to issue
low-interest, short-term certificates. 1t was
stated in these dispatches last Tuesday
night one week ago that the Maryland Sem
ator, rather than jeopardize the passage
of the sundry civil BILL after making a
statement of the necessity for some relief
as that indicated in his proposition. would
withdraw the measure. To-day he adj
dressed the Senate, making one of those
marvelously compact clear, common-sense
explanations of the situation which go di-
rectly to the understanding of the plain
people as well as the most astute financiers.
Mr.. German did not mince words. He said
plainly that Secretary Carlisle had blum
dered in his figures year ago, and had
been attempting to evade the blunder ever
since. Instead of the comfortable sur
plus of which the Secretary drew such a
roseate picture in a recent report, there is,
said the Maryland Senator, a deficiency
ahead which will amount to thirty millions
for the calendar year. and twice that
amount for the fiscal year. Mr.. German
was supported in his attitude and his
prophecy that further bond issues were in
evitable unless some remedy was provided
With such support, Mr.. German felt as
sured that he can afford to let the future
decide between him and the administration,
and seeing later in the afternoon that the
Stewards and Aliens of the Senate were
endeavoring TO make his amendment pre-
text for their interminable financial twad-
die, he withdrew the amendment. So the
German rider, predicted, has taken its
place in the list of unsuccessful attempts
to afford the treasury relief by Legislative
means. The same is true of Mr.. Millss $
stupid effort to bind the Secretary hand
and foot by a provision that he should
issue more bonds.
1t is inevitable that there must be am
other issue of bonds No matter how ths
treasury officials may manipulate their fig
ures tomorrow in making their returns OF
the receipts and expenditures of the treas
ury for the month of February, the fact
cannot be concealed that there will be a
deficit; perhaps little less than three mill
lions, it is true, but a deficit none the less,
and therefore it is inevitable that the with
drawals of gold, which have temporarily
ceased, must begin again. The foreign syn
dicate which, at such enormous cost to
the government of the United States, has
undertaken the contract to stop the drain
ing of the treasury may succeed in its
work for some weeks, some months even,
but sooner or later the endless chain will
again be started. The foreign syndicate, in
bringing all its powerful influence to bear
at home and abroad to keep the gold in
the treasury, is directly interfering With
the natural course of trade, but sooner or
later the natural course will triumph, and
it is certain that if Mr.. German is right.
and the relation between the treasury s
: receipts and it's expenditures as he set
forth to-day, the gold reserve will again be
drained How another attempt to issue
bonds even at the Morgan-Belmont terms
will succeed, it is impossible to foretell,
nor is it pleasant prospect to contemplate.