Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-02
THE COM ING LOAN
It is Welcome to Republicans Who
Desire No Extra Session.
WHEN THE PANICKY FEELING WILL END
The Presidents Probable Attitude
to the Next Congress.
NJ R. r E e D A n D S L V E r

The preparations making to float a new
government loan are exceedingly welcome
to those republican leaders who do not de-
sire an extra session of the Fifty-fourth
Congress The hope is expressed that the
next bond sale may reach one hundred mil
lions of dollars, and the feeling is that that
sum. under conditions changing gradually
for the better, ought to tide the admins
tration over existing difficulties.
The republican leaders, taking the case
as the President himself presents it, COM
fort themselves with several reflections
He has shown, they declare, that he does
not lack the power to protect the gold re-
serve, if that is the great object of his
soicitude. The sale of the first block of
bonds settled that question to the satisfac-
ton at least of the money lenders They
did rot hesitate to subscribe for the loan
because of any dispute among congress
sional leaders about the precise scope ana
meaning of the statute under which the
bonds were being offered. The bare fact
that subscriptions had been invited over
the signature of the Secretary of the
Treasury was sufficient for them. Similar
readiness and confidence were manifested
when the second block was offered and no
doubt is entertained as to the result OF the
next offer Why then, the republicans ask,
should the President call the next Con-
gress together merely to reahrm, as 1T
were. power which he has shown himself
already to possess and which he has actu-
ally exercised? Would change in the
rate of interest ard the time of a bond
justify such step? They think not. They
assert. indeed, that the President might
subject himself and Congress to consider
able criticism by putting the case in such
a form. 1t might operate es reflection
on the previous issues of bonds. by thus
demanding additional statutory guarantee
before negotiating for further loans
Another point insisted en- by the repub-
licans is that this game of reducing the
gold reserve in the treasury is near its
end. They do not believe it will be or
could be much longer employed. Gold. as
they assert, is not now going out OF the
country. 1t is being withdrawn for heard
ing at home by people distrustful OF af-
fairs as long as the democracy is in power
in Congress. The striking of the clock at
midnight on the 3D. of March will, they
contend, be the knell of much OF this pan
icky feeling.
Still third and most interesting point
is the opinion expressed that the Presl-
dent, in the matter of the final settlement
of the currency question, does not desire
to take any step calculated to embarrass
the republican leadership in the next Con-
gress He expects to find himself very
much in agreement with that leadership,
and. actuated by patriotic motives, will
hold himself in position to cooperate with
men like Mr.. Sherman and Mr.. Allison in
whatever they may propose and i,: attempt
of financial confidence. In this way, it is
expected, the President will try to check
the growth of the threatened alliance be-
tween the silver men of the south and
those of the west. He is learning a good
deal of what the silveriteS hope to accom-
plish by union of the forces, led on the
enc side by Mr.. Teller and on the other
side by Mr.. Vest. To this, it is asserted,
he will make reply when the time comes
by extending his hand to Mr.. Sherman and
inviting an open alliance on that side upon
lines assuring success to the policy to
which both himself and the Ohio Senator
have for so long been committed. Men of
the highest prominence firmly believe that
promptly upon the first avowed alliance
between the silver men of the south and
those Of the west for the purpose of shap-
ing the issues for 1896 by blocking or in
ures brought before the next Congress, the
President will as aggressively take his
place by the side of the sound money re-
publicans and throw down the gage to the
anything substantial in this much-discuss-
ed breaking up of both of the old parties
cal alignment bringing the south and the
west together for future operations, it
must Immediately materialize.
Effect of MIR. Teller's Speech.
1t is true, however, that much as some
of the republican leaders are counting on
the President, and thereby persuading
themselves that extra session of the
rext Congress Is unnecessary and will be
avoided, there are others who still survey
the scene with concern and wish that all
danger were passed. Nothing could be more
suggestive than was the profound atten-
ton that eX-Speaker Reed yesterday paid
to the speech of Mr.. Teller on the question
of currency. Mr.. Reed Is so busy that he
seldom spends but few minutes in calls
the Senate side. But yesterday he sat
through the whole of Mr.. Tellers remarks,
following him closely. He was undoubted-
ly anxious to hear the silver side in it's
latest phase presented. by its recognized
senatorial leader, and Mr.. Teller, observing
that he had the ex-Speaker and the
Speaker again-to-be for a listener. made
his meaning entirely clear. The one evil
IDENTIFY was noting what would be neces-
sary to insure a solid party front in case
action in the early spring should be neces-
sary and the other was as evidently point
ing out some of the leading difficulties in
the way. The episode was interesting
it attracted the attention of the galleries.
CHICKAMAUGA MILITARY PARK.