The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-07
DISCUSSION or THE BOND CALL.
What Leading Senators aud hepresen-
tasiye- Think About II.


Washington City. Jan. 6.-@The senators
did not seem disposed 10 talk about the
bond call issued By Secretary Carlisle Tie
Democratic senators generally we're non
committaI Senators Harris ana Vest,
both members Of the finance committee,
said they had not read the call and had
nothing to say. Senator German said that
the call was all right, and was the same
az for the first two bond issues by this
administration.
There were. not many Republican SEN
ators around the capital. Most OF them
were rotleent as TO the call. Senator Nor
Iill said that there WAS nothing 10 say
about the cal. that 1t spoke FOR itself.
Senator Teller said he was gratined that
the president had decided upon popular
loan. and he had no doubt the people
would respond In a way II justify the
course decided upon. Mr. Teller did not
believe that the entire sum of $t0D.40.0p0
asked for would be necessary. For hirh-
self he did not consider that any bonds
were demanded, and he thought that. even
from the presidents point OF view. ii
smaller sum than Sin0 100000 would he
sufficient The call was an entire sur
prise for the house, for II had not been
expected 10 appear before the middle Of
the week, nor had It's terms been antics-
Iated.
Senator Elklns whose resolution last
Friday declaring against the sale of bonds
ty private contract caused a sensation
ST. the senate. today says he is well salts
fed. and viii not press IL farther. as the
result for which IL was introduced has
been accomplished In the call for pub
lie bond sale.
The plan is generally approved BY mem
bers OF both parties who believe there Is
. necessity for bonds and those who are
opposed 70 bond issues altogether think
that the call for bids Is much better than
the arrangement with the New York syn
dictate. which was generally expected.
There was some satisfaction expressed
because the president had NOT seen TT TO
wait until the senate acted on the house
revenue bin, although there is no expecta-
ton that the bond bill will pass the sem
ate. Among the Democratic enemies OF
bonds talk was heard OF a resolution de-
claring the sentiment OF the house 10 he
against their issuance. but this was con-
eidtEred ttnprac ticabie, as well as exceeding
IT, unlikely 10 pass.
Mr.. Cannon. chairman Of the apprOpria-
tlons committee. said OF the call: "As /
understand st. the proposed syndicate ar
rangements substantially looked toward
placing the bonds tn the United States II
these bonds were now ready for delivery
auf the country understood that they could
be had from 10 10 li2. which is below the
market price for silver bonds. | have no
erase their circulation. using the gold Ia
their vaults 10 make payment. | hope
They will do so. as the bonds run for thir-
Is years and can no doubt be h0ugh, on a
3 per cent basis and would yield small
profit 10 the banks for circulation on that
basis
Mr. Walker. % Massachusetts. chair
man Of the banking and currency com
nlittee. said; when the president has 81
chaRce 20 issue ten year bonds and ISSUES
thirty year bonds n does an act That VIII
be universally condemned IN The near tl-
ture II not today. The people VIII De-
manA that these bonds viii he paid even
AT a considerable premium before ten
years. and probably within I'VE. ara exc
crate the men who have bound them hand
and foot for thirty years.
Mr. ncpNurn. Rep. Iowa. said. This
can places Senator hin iu rather queer
Nrht. after his assertion stating that
nothing az the sort Vas contt mpIate1 u
,ool,s IA though his defense pf the admin
fstration was unauthorized. q"
Mr. DlrElcy. chairman OF the WAYS a0l
means committee, declined 90 oe quoted.
tn general opinion ~ TIE Republicans
sctwe3 10 hc. hc" evor an aupr6yal az
the determination OF tae president 20 e0sr
the bonds 70 tho people. bat regret was
CNf e. ssed that aH invitation Vas not ex-
tended - the Vuh.le 20 take the bonds {
oece A general fear was sxrrcssed that
the dei8y of month hrf1ro tSe result ~
tn offer can - aseertatnr3 u!Eht 1av.
a depressing effect ou business and might
imT eril tha go'3 reserve TOO uueh
Mr. Patterson. Dem. Tenn. Hat4. Il
heartily approve % the ~ir-u!sF I thirk
q VII De popular and sur-csSGlt am
Ejad the clause is inserted that gives ih.,
f4h.tc nm opportunity under the r~rvis-
TONS ~ tfe house oin IN cass &c passes ere
senete, Tae determination So }rt thc pub
r. I'D Cor tAe lHsn places ths admluIstra-
tiQn in the best possible attitude"