New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-10
COME. CONGRESS |,

The President has made the necessary pro-
posa TO bankers but has most judiciously left
ten days time in which Congress- If it has the
needful wisdom, can save the country about
S14,000,000 by passing a proper bond bill. so
far the majority in Congress has refused to do
anything, perhaps because the published state
ment of Secretary Carlisle created some doubt
whether any further loan would be really neces
sary. part OF the responsibility for this hu
initiating situation must be ascribed to him and
to the President, because clear and unyar-
nished report of the financial situation would
not have encouraged any of the Democrats to
refuse their votes for another issue OF bonds
1t is particularly unfortunate that this Con
gress closes its performance with failure in
duty so disgraceful 1t was hard 10 bear, the
people thought. when the Congress deliberately
gave away 10 per cent Of the value Of imports
by reduction Of duties, making a present OF
about $7O,O 600 to foreign manufacturers and
traders 1t was dishOnOrable enough that Con
eress voted S16,0O0,000 TO the Sugar Ring and
S12OOOOOO to the Whskey Trust. But its re-
fusal to vote for the protection of the National
credit involved gift OF about $14.000,00O 10
the foreign and American bankers who under
took 10 provide means for the Government in
It's necessities, and the people may well say that
it is a little too much. They have endured
great deal during the last two years, and will
have to bear tolerably heavy load for q good
many years TO come, because Of the foolishness
of this Congress and this Administration. but it
is not decent that they should be obliged to see
their Government placed at the mercy Of inter-
national money-lenders In this fashion Natu-
rally the people find fault with the bankers, and
yet 1t is not quite fair When the spendthrlft
gets himself into such a condition that he has
to pay 100 per cent post obits, he usually
growls at the money lenders but he never growls
at himself The behavior of Congress has made
this loan inevitable, and the President is only
dischargng his plain duty in protecting the
credit Of the Government and executing the
made, and ought long ago to have made, much
wiser laws but it has persistently refused and
cannot find fault with the President for en-
forcing the laws as they stand.
1t seems not out of place to appeal. at this
juncture, to all members Of Congress, whether
of one party or of another, to put aside their
controversies and differences, and to pass with
in the ten days that are left under the arrange
ment made by the President reasonable bond
bill. The Tribune offers practical sug-
gestion for their benefit Get rid OF the battle
OF the standards in this emergency by empower
ing the Government to pay the kind OF money
1t borrows Pass some bill like that Of Senator
Sherman or Mr. Reed. with the proyiso that the
Secretary of the Treasury shall contract TO pay
the same kind of money that the Government
asks from lenders II it wants 10 borrow silver
let 1t pay silver. II Ii wants TO borrow gold. let
1t be honorable enough and also shrewd enough
to pay gold. Why should there be any objection
on either side Of the House TO the passage OF
a bill authorizing the payment Of the same kind
Of money that the Government actually borrows
with per cent interest? Nothing but a blind
and stupid partisanship, 1t must be admitted,