The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-06

Be sasrsa by the president What MAS
wanted was a yracsical measure that
would remedy the evil snas Aas produced
this crisis n car nassoaal afTaas> ssIn any
5usagTaent, he continued. az the presl-
cezas. when he became eewvsncei that an
efsers was being made TO drain the treas
ury of rs gold. had announced his par-
Tscss of nEaasstasniny the reserve az Siue,-
cao.eaa the limit set BY Conrad Jogxaaa. a
Damoc-atSc treasurer. and had followed
that announcement with vigorous meas
ures. there wos,id have heen no sissslculty.
IL the party IN power had provided safsl-
cieTs revenue there would have been no
sronese." To fint q remedy Il was aeces-
ssry 70 know the con1stss>a. There -=re
$sas. oa0.aao OF outstanding paper oblsga-
fsoFss subject 20 redemption. ssazn 10.
worth talking about when the question Of
the governments ability to pay and pay
promptly was raised. Therefore. sewae-
thing must have been done 10 create dis
trust. The FIRST and the main thing that
WAS done was the passage OF n financsai
measure which had already resulted in 1.
deficiency OF s1e.. .eeaoa. and which. from
pseseut Indications. would create further
deficiency, permanent or Temporary. The
treasury was divided into two sharp ssiyi-
sions Il was engaged In banking ana h,
was engaged in business. The business
end or the concern was rsaning assern, as
ne had pointed out Now the conductors
OF the treasury had allowed The business
end 10 interfere With the banking depart
ment Discarsing rsse wisdom of thosa
tffA -$e.S
enues and borrowing money to meet the
deficiency In that Department. It has
taken from the banking denartment funds
TO supply the deficiency IN the business
department. There was set In operation
the endless chaan by whTu1 We were fur
nsshang gold for tho rest OF the world.
The president had appealed no; Only to
hrs party associates. but to the opposi ,ion.
for aid. As q party man he sReed) ought
20 be not melancholy over the prospect,
but as a citizen he stood ready 10 assist
his country in the present crisis. Reed
warned the house, however. that there
could be no currency legislation at slse
tictation OF any one man--she president.
Mr.. Springer. the speaker or any other
man. 1t must be had by the concenssss
OF opinion of an. There can be no legisla-
tion. he added on the eve OF an expiring
congress.
I'VE we'll know" said ne, '.thas II this
bill passes the house 1t will so no further.
But 1t does seem TO me that a practical
measure could be presented" The lrss
step was TO make the government rev.
enues equal to ITS expenses. But said
Reed. 'sto raise the revenues would be
confession. and confession might mean
suicide"
He said that tl,oss IN coetrot Of public
affairs would have command OF the rev.
en,se question for tho next two years
The secretary OF the treasury had just re-
ported 10 the senate that ne would have .
surplus OF se2.0oO.ooo. Tho. secretary had
given the last dollar OF this surplus, omit
ting. however. the cents. as otherwise
come question might have been raised az
TO the accuracy Of this surplus. Now. II
the secretary had any surplus. one thing
TO do was to use It, and. anstead of long
time gold bonds. issue certificates 70 be
redeemaible at any time.
Reed said he would send 10 the desk the
plan no had formulated 1t might be
changed or modified. He was not insisting
on osaving It conskiered a. substitute or
In any other paattcuaar relatave to the
pending bill. But II avoided the question
of pnrting gold. bond against the coin
bond. and It avoided other complications
comprised In the original measure
Section / OF Reeds bin authorizes the
secretary OF the treasury TO issue per
cent. bonds, payable after Ave years, sisn-
flar to the bombs issued under the resump-
tton act. It ts substantially sizniiar 20
Sheranan's bill, fntrotuced IN eAae senate.
Walker. Rep. Mass. also opposed the
measure He was very sarcastic at times.
The government had already been forced
TO issue sico 00o, 900 Of bonds. he said. which
were denorninated Growers" Shortly
sf00. 900 oo0 more 'Grovers." and Tire next
step would be tho issue OF $500, 100000
Growers"
his spee<sn that he could adj no hiiartty
TO this "funereai occasion" He charac-
terized she new bill as q complete sur
render of the Democratic party. 70 the
banking interest.
Lafe Pence nsarveled that such meas
ure as ahe pending bfll should ernarate
frvn Despocratic committee at the die
sation of Democratic president. ard he
expressed for aytrnseR and his party q
Willingness TO cooperate for the passage
OF some relief measure.
McKeaghass. Pop. Neh.. soiiuwef IN the
same line creating some amusement by
oa41sng Springer the ..artfM dodger OF tho
situation"