The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-01-15
THE PRESIDENTS ANGER
Led Him 10 Forget Some Things He
should Have Remembered.


should Have Remembered.
New York Tribune: 1t Is not worth
while to criticIse closely the Presidents
letter about issuing bonds. Obviously
the President was angry. and could not
we'll be expected TO speak with great
precision. Allowance may be made the
more because he had some reason to be
angry, though II he had allotted blame
with strict judicial temper, he would
have been more angry with himself
than with anybody else. Nothing
could be said by any. newspaper or by
all newspapers would so 50 far as his
own conduct TO create Az unfayoFabIe
opinion OF the Presidents bond opera
ton last winter. II the PreSi-
dent had been fairly cool he would have
seen that his statements were OF the
mutually destructive sort. He and the
secretary OF the treasury could not pos
sIbly have conferred with those hav-
ing knowledge OF financial affairs and
present monetary conditions" without
directly or Indirectly giving somebody
the idea that loan was about to be
proposed. II the truth were told, the
persons with whom the President con-
ferred were made aware that a loan
would not be offered to public subscrip-
ton except with conditions which
would render It's popular success ex-
tremely improbable. In view OF all this,
II Is little out OF place for the Presi-
dent TO say. with more temper than ele-
gance: "If Mr.. Morgan or any one else,
reasoning from his own standpoint.
brought himself to the belief that the
government would at length lie con-
strained to sell bonds to a syndicate.
suppose he would have a perfect right.
Il he chose, TO take such steps as seemed
to him prudent 10 put himself in POSI-
ton to negotiate" The government
had been so constrained. IN the Presi-
dents opinion. year ago. 1t is not n
month sInca the President fired on a
panic message TO Congress beseechlnS
II to do something In the holiday week
to avert disaster. and closed with n curl
Gus phrase plainly Implying that an
other attempt to issue bonds must soon
be made:
"I ask at the hands OF Congress such
prompt aid us 1t alone hns power to give
to prevent. in time Of fear and appre-
hensIon, any sacrifice OF the peoples In
terest and the public funds. or the Inn
pairment OF our public credit in an eff
fort by executive action 10 relieve the
dangers OF the present emergency"
Really. when the President gets angry
he falls 70 remember q good maRy
things which would be prudent TO keep
in mind. Mr. Morgan reached WASH
ington the afternoon this message was
issued It was stated, and somehow
came to know its tenor. He has no rep
utation rs hypnotlst. but somehow he
acquired the Information that the bonds
TO be issued were to run twenty-Dine
years. He did not fail TO invite certain
bankers, who are well known as close,
personal friends OF the President. Hg
had more than one prolonged interview
with Mr.. StetsOn, whose legal relations
with the President have also been conf
Dental, and who drew up the syndicate
contract year ago. II Is not by any
means the strnnEest thing In the world
that Mr.. Morgan brought himself 10
the BELIEF that he YVES authorized TO
ascertain what he could do. But the
most astonishing feature OF the case Is
that the President gets so hot in denial
that he has done this year exactly what
he unquestionRbly did last year, In his
annual message in December he SOL
EMMY declared, regarding the syndicate
operation OF last year: 81 have never
had the slightest mlsSivlng concerning
the wisdom or proprlety Of this ar
rangement, and am quite willing to an
swer for my full share OF responsibility
for It's promotion" But now the Presi-
dent Is passlonately anxious TO have no
one believe that he could by any posi-
bility have been negotiating with any
syndicate about sale OF bonds.