The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-03
SEATTLE. FRIDAY. JAN. 3.
THE SITUATION.

II seems more than probable that Presi-
Gent Cleveland viii ignore any assistance
congress may be preparing to give him.
and Il Is quite evident that he proposes 10
obtain more gold by another secret bond
sale. Inasmuch as congress has not seen
~ 20 offer the exact form Of relief he sug-
scsted. he Is apparently inclined to wait
no longer. and II reports are correct will
shortly add 500 ooa,0 90 and possibly 500
10000 more 20 our bonded debt The presl-
dents purpose TO rcplenish the gold re-
serve VIII no doubt be successfully car
red out. but his action Just ut this time
can be construed as nothing more nor less
than the placing OF his individual opinion
above that OF tho legislative branch Of the
government.
To overcome present difficulties the Re
publicans have proposed n Is per cent in
crease In customs duties and the taking OF
humber and wool from the free list. which.
~ Is expected. will Increase the revenue by
at least tio.ooo.coo In order TO redeem the
greenbacks and prevent them being pre-
scented for gold. as In the past. IL has been
proposed 20 issue per cent. coin bond.
the greenbaclss when redeemed 10 be used
IN discharging our interest hearing obllga-
tions or IN case Of apprehension OF run.
20 be held temporarily In the treasury for
its protection. To meet immediate neces-
stiles and provide for casual deficiencies
coin certificates In small amounts are au-
thoriEed 10 the extent OF ss0.ooooto.
The chief objection 90 this bond bill
which has been raised by the president
and his friends is that Il provides Tor re-
demption in coin and not in gold. II there
were any likelihood II getting a gold bond
bnl through tho senate. u might De prefer
able 20 the present measure "a mere
gold getter. but 70 Is out Of che question
20 think OF the senate authorizing the is
sue OF gold bonds and the coin bond hin
Will no doubt De quite ctiicacious in re-
heving the present treasury emharrass-
ments. Senator Sherman has always con-
tended for coin bonds in preference 10
gold bonds and has stated 81 as his belief
that coin bonds can 10 foatci as easily.
The present bopi hii VIII reduce tho rate
OF interest. provides fer thoir sale az home
Instead % 20 foreigners. ana while Il viii
not permanently rctiro the groenbacks. il
VIII empower the secretary OF the treas
ury 20 keep them ont OF the hands 81
spectators who desire 20 make raids on
the gold reserve.
That q is tho intention Of the Repub-
licans 10 really relieve the treasury and
not emharrass the administration Is
~. 49, 81. ~haf~- . ~ .--sfa 49,. . Is
clause 20 the bin. This is substantially
what Secretary Carlisle asked for I'm hts
annual report as a means % meeting de-
ncienCics. It's presence. however. would
seem 20 make room Tor veto az ths tariT
I'm. Tor wien authority % issue certificates
az Indebtedness there would IL 10 re,r<-
SLY for increased duties and the admin
istrauoa seems 20 prefor % run the gov
eminent by borrowing money rather than
through a system 81 adequate taxation.
THE Republicans aes doing Their rsq
euty. They realize the critical condition
Of affairs ans they have cccrca measures
OF relief which are approved ty TIE w.sest
and most experienced % car national leg
islators. u is rot necessary nat tAev
should corcede evc-yth * 20 the presl-
dent. TAey have oTe-es a simple RENEE
dy. ard II Re pref,-s 70 iseore Il sra cor
t.nue the issaes % Aieh rate bcAds Tor
che remainder - pc term - protect TIE
SOLD reserve. taey are E4t responsible fer
results = the president a-t RS fr!caas
are ln moet Toy compromise. there IS
10 doubt prsscn, digcultcs ca bs erileegl
over. y 'hey are not. taen 2; eouls seem
the ola orter Of things must prevail wita
a constant Increase C the racoual 5e5i
sni ths ever recurring moathly Gea..t,