The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-13
BOND CONTRACT.
Best Oae Possible Under
the Circumstances.
Jones' Bill Authorized by the Sena.e
Finance Committee.


tsle went before the ways and means
committee of the house yesterday. He
. brought with him copy OF the contract
made with the bond syndicate For the
first hour OF his appearance before the
committee his time was occupied mainly
In answering the questions propoundod
by tho members.
shortly after Secretary Carlisle began
addressing the committee, "A resolution was
adopted that none Of his statements should
be repeated to newspaper men, but they
should be regarded as given TO the com
mittee In strict confidence.
Secretary Carlisle defended the course
OF the administration as To tho recent pur-
chase, ana expressed hope that congress
would yet grant relief needed as much AS
ever by passing per cent gold bill.
While the spirit pervading tho meeting
was u friendly one, according &c all nc
counts, the secretary OF the treasury was
very closely questioned py members OF
both parties upon certain features OF the
bond negotiations. There seemed TO DO an
opinion prevailing to a certain oxtent on
both sides OF the house that the element OF
personal partiality had entered into the
contract; that 1t had not boon made on
the most advantageous terms for the
government and that the condition Of the
market would have enabled the secretary
10 secure better rates
The secretary assured the committee
that tho bargain agreed upon was the best
possible one under the circumstances. ex.
planned that the treasury officials had con-
ferrcd with a number OF financiers, had
reached the terms that they considered
safest and would have gladly accepted
better offcrs had any been presented. He
denied the implied charge Of personal
favoritism. but certain members OF the
committee did not seem To DO satisfied on
this point.
Acted In Good Faith.
Questions were asked concerning the
general condition OF the treasury and the
secretary gave tho amounts OF money OF
every kind on hand aud various other flg.
ures. Several questions were asked him
which were designed to show that the lack
OF revenue was the real and only trouble
with the finances and that the attempts to
replenish tue gold reserve by bonds were
+ really roundabout methods OF obtaining
money TO meet expenses The secretary
assured.the committee that the admins
tration had acted In good faith.
Secretary Carlisle suggested that the
committee take stops to restore the law to
Its old status belore 1874 by adopting a
plan To relieve the treasury from the work
OF redemption OF national bank notes by
making the banks maintain an agency
for the resumption of their currency.
For The Republicans. Messrs. Hopkins,
Grosvcnor and Reed led In the question
ing aud the discussion, but according To
Democratic versions none OF the Republi-
cans made known their position upon tho
question. No Republican plan was pro.
posed.
Representative Tqrsney offered rcsolu-
tion to empower the secretary To issue
per cont gold bond whenever the needs Of
the treasury might demand, with the pro-
viso that the proceeds were not TO be used
To pay currency expenses
MIR Cochran announced that he could
not give his support TO Mr.. Wilson's plan
under any circumstances The result of
the sub committees conference will de-
pend largely upon the action of tho Re
publicans. Leading members OF the party
have been comforting informally, but IL is
learned on best authority that they have
not agreed upon policy.
silver Bill Authorized.
The senate committee on finance, by a
vote OF Q to 8, has authorized favorable
report on bill providing for the unre
stricted coinage Of silver az provided for
In tho ninth section of the Jones bill. The
text Of the bill is rs follows:
That from and afTer the passage OF this act
the secretary Of the treasury is hereby author
tied aad directed to receive at any United
States mint, from any citizen Of the United
States silver bullion OF standard fineness ana
coin the same into silver dollars OF 4l2ts grains
J each. The soigniorage on said bullion shall
belong 10 the United States, and shall be the
differences between the coinage value thereof
and the market price OF the bullion in New
YORK ON the day the deposit is made, and all
expenditures for coinage done under the pro
visions Of this act shall be paid out of said
seignioraye and the secretary OF the treasury
shall d,lyer 20 the depositors of such bullion
standard silver dClars equal in amount to the
prioe thereof as Aforesaid, and whenever the
said coin herein provided for shall be received
into the treasury certificates may be issued
thereon an the manner now provided by law