New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-27
TO STIR UP CONGRESS-
THE PRESIDENT WILL CALL ATTENTION
TO THE FINANCIAL SITUATION.
SPECIAL MESSAGE EXPECTED PERHAPS 10.
MoRRow-PREPARXrloNs APPARENTLY ON
FOOT FOR ANOTHER ISSUE OF BONDS
SIGNS OF WELDING TO THE
SILVER MEN.


[pY TELEGRAPH rRIBUNE.1
Washington JAM 26.-The fall of the gold
reserve to less than s5S.0o0, 900 to-day caused
great anxiety to the officials OF the Treasury
Department. 1t also seemed to give much con-
to the President for early this morning
Secretary Carlisle and later on Attorney Gen
eral Olney were sent for. and a consultation
took place which lasted some time. That the
desperate straits OF the Treasury and the
brutal indifference Of Congress to its needs
formed the principal subject Of discussion at the
conference Is probably true. 1t is also true
probably as reported tonight. that no new
panacea for the financial ills OF the Government
concocted. but that the President has
reached the conclusion it is his duty once moro
to stir up Congress 1t Is the general impress
sion that he will proceed to do this by another
message, which may or may not be ready Tor
transmission Monday. Neither the outline
Of the message nor. indeed, the financial out
look, 1t may be stated on good authority, has
been made the subject of discussion by full
Cabinet meeting. for the simple reason that the
Presidents advisers--if gentlemen performing
the functions OF head clerks can be called "ad-
visers"-are hopelessly divided this on
several other important issues of the day. II
the President calls In the Secretary OF the
Treasury, therefore. or the Attorney-General.
1t is not so much for the purpose or hearing
what they may have to say on any particular
subject, as to direct them to register his de-
crees, and work out incidental details. Hence
It is also, that the so-called conference" OF
this morning. which is more or less shrouded In
mystery. is generally looked upon as having
been called for the purpose OF instructing the
Secretary Of the Treasury to prepare for new
issue OF bonds
Indeed, indications are not wanting In other
quarters that call for bids a new issue OF
bonds Is imminent Those officials OF the Treas
ury Department to whom the preliminary steps
looking to the placing Of a new loan are US
uay ntrusted displayed this afternoon suspi-
cious and significant activity. the presence
too OF several well-known New-fork Dankers
among them Mr.. Belmont and II. w. Cannon
In and around the Treasury Department In the
course Of the day ient credibility TO the STATE
ment that another issue OF bonds would %
placed on the market. or that, at any rate.
some new financial scheme was Matching. But
aside from this. 1t takes no great acuteness ness
a new issue OF bonds. The period when TINS
necessity must arise can be calculated with al
most mathematical accuracy by any one VINO
has seen with what ease 1000. 900 or $0,0o0.000
in gold Is withdrawn from the treasury IN
single week Nor does any one here, save Mr
Springer and the more rabid followers OF FRO
sessor Wilson de.ude himself with the idea that
remedy for the existing evil Will be foune
until the revenues of the Government are mace
Neither the rapid depletion or the gold re-
serve nor the argument that new issue ot
bonds cannot possibly he negotiated upon terms
as favorable, or even nearly so. as the $looVoVw
already placed appears to have much erect
upon the mind OF the average Democratic Con-
gressmsn. There is p ghouIsh gee ,,h msn,-
Tested arncng those patriots who have hitherto
opposed all legislation on sound bnanciai prih-
cples and who will continue TO DO so 10 tne
bitter end. The prediction that tne goio reserve
will be exhausted within two or three weeks -
received by these same gentlemen without any
expression OF alarm and with the utmost lndif-
ference There is no indication whatever or any,
change OF attitude on the part or the radicai
silver men, and those who are counting upon
the situation alarming Congress 10 acuon mo
little encouragement In that Quarter. put ,i. n,,e
expectation is entertained or benencial results
from the legislation on the Sundry civil Dill
giving to the Secretary OF the treasury uiscre.
tion as to the denomination of notes reissueo
on redemption and making gold certificates not
receivable for customs dues Some good may
be accomplished through this legislation. IL IS
thought but II Is too Insignificant to cut mucc
OF a figure in relieving the present situation.
The statement Is also made. though apparently
without authority, that the President as the re-
s,lt Of great pressure and In view OF the really
dasnerate condition OF things Is disposed TO treat
more literally with the silver men tnan heieto-
fore and that he would yield almost anytnng
short OF free coinage II by 80 doing ne couiu se-
cure legislation which he desires This Is prooa-
biz an exaggeration of the case, but tnere Is
firm belief that he would be Wiling TO permit the
exneriment in connection with the legislation ne
desires OF forcing into circulation the entire VOL
ume OF silver In the Treasury upon which the
sherman notes were issued. The poiicy OF tne
Treasury 10 redeem these Sherman notes In gold
s fixed and 1t is not believed that the Admins.
tration can be driven to any other as long as II
has. gold or any means of getting H. but IL Is
suggested that the President might agree 10 the
indirect substitution Of silver dollars for these
notes by falling to reissue such sherman notes as
come into the hands Of the Treasury. All propo-
s,tions under discussion with hope OF finding So
luton OF the problem involve some disposition OK
the silver In the Treasury other than tnat OF mold
ny n as security for the Sherman notes while not
heing held under the policy OF the department for
the purpose of redeeming these notes