The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-06-16
Secretary Carlisle Before the Senate
Investigating Committee.
GOLD NEEDED TO SLAVE or PANIC
Aud II Was secured a. Promptly ss
Could Be Vad- Congress
Forced the Move.


held in the rooms OF tho senate . mmi
tee ON finance. Seua az Harris, Vest,
Walihnll Jones II Nevada and Flat
were rrcsen
chairman liarrs explained tha, ;he
committee had decided to take all 'esti-
mony under OATH aud did not wish 20
make any dis iimnaiious
Mr. rarllsle responded that he expected
and desired to he ru' under oa h.
MIR Vest began she oNnmnation. ask
ing fer more fnll eNplana ion Of IN"
first bond CONTRACT with tho alorgan syn
dirttr than had been given N Nr az
lisIs 5 Written statement
His main ruriose, said MIR Iailsl", Wa-
TO prevent the shipment of gold from TN
country
MIR. Vest asked who made the nr=t sus-
lssiton as to the protective clause IN
the bond contract with the Morgan syn
dicat.
The secretary answered the ar-t daft
WAS made in mis- private otfice and then
Morgan ana Francis Lynde 81 son. aitef
which some changes wete male. rnis vas
me Stetson. che secretary exriains IN
law partner of the president.
MIR. Vest asked why the contract had
neon given to the sNnrcaia, 10 which Mr..
Carlisle replied with a lengthy eArauafion
OF the great om lecncy e>isiine when
won'u net permit delay for he usual for
mali'ie. of a bond sale There ,Nas much
anN'.iN In financial circles as 10 the =it,a-
ton. heightened 10y u visit of Mir tuiis
to New York which brought o,lt many
newspaper coniectures It was not how
ever, until the Sp-lneer bill $50 caiiedi re-
latinr to banking aud currency had heeu
defeated in the house Of representatives
Tint It became eviaent that steps must
he taken 70 protect the TREASURY The
contract was closed tho day the Sprinc.r
hill was defeated N the house
You never had got'ations with otter
asked MIR. Vest
There was some inquiry hut 10 nego-
'ia,'ons or'enHd' said the secretary.
MIR. Carlisle went on TO explain that the
nts siaen' WIS kept arprIsel of all phases
of the negotiations
one of Mr. Vest. questions referred to
the time of tho presidents Information as
compared to that nj Reront to which
he SECRETARY said the presidents mes
sage giving ttA Information 10 congress
as 10 tho close of the bond transaction
was sent IT noon. while Relnon,'a did not
reach Washington un' y. m.
Tc Mr. Vests question as to why pub
lie bond sale WAS res rted to A. n later
date. when tho early sale WIS ny private
contract. Mr. Carlisle said lhe FIRST move
WAS due entirely 10 tho amcrgenc,cs .xisi-
ing ard 20 the dsturhiu. reports. which
We're without shadow Of fnundait m, that
h" government had long contemplated
MIR Nests Question turned to the Graves
biz, which was rejected. The amount #
Graves award H,.5rlo 900 Of bon Isl being
given 10 the Morgan syndicate. rhe san
ator asl,cf why after Graves' hid vas re-
iected, III, government did not rer.ive
III" benefit of tho rise which occurred In
the price of bonds instead OF the benefit
going to tn" Morgan syndicate under
| ''hlanket bid
Mr. Carlisle said this WAS matter Of
| ooinlon and IN Ms ~ 'smoni ,ir1,es' hi"
bid which was NEXT highest fnnk the
houds His action, he 50 ?, was taken af-
ernmen,. lie would have tax N rhe sam.
coutse If Tho price Of the bonds had fallen.
"Rnt would the SYNDICATE have taken
the same course Il tho bonds had fallen9"
iuteryosrd Iones
Tho SECRETARY answered that his course
would have proceeded without reforenr"
to what The syndicate desired or would
bonds had fallen he could have compelled
tho Morgan syndicate ~ take them,
is it not fact" asked Vest, ,''hat he
| cause he syndicate had carried ont the
| protective claus Snn were Inclined q
| favor them"
Not in the least" declared the secrc-
| tnrv etnphat icauN. ~ am not conscious ot
';Rut you and the prrsiaon were pleased
with the mannsr IN which tho protective
| clause had been carried our" inquired
| Vest.
Yes, hut I am not conscious of The re
motest feeling IN favor Of the syndicate -
| the syndicate had bnen initiated.
| The se"fotarN's oNp'ana'ion was that 4
f Rslmop 'fF" At 'F he s an m Nis Mr. 10
| carlisle added talk had been had with
many persons, ~ 10 ~ poss'rir'N- ID
furnishing ;old IN cas-, OF emergency aud
| inquiries made abroed.
pne of Wni'hili's questions brought ont
u statement from Mr. Carlisle rs TO the
critical coma ton Of the treasury a, the
tine the syndicate contract WIS made
The fac was. ~ said, the ,ieasnry had
reached poiui where gold corti;iraf.s
| We're outstanding which II hai no gold
20 meet He meyer stated his fact ,afurs
y suppose ypu never contemplated pay
! ing NJ s'lvor2' inquired Vest
N" 'ecf"'aly replied fhaf ,ha ~ cent
yo,'c, If payins IN gold bad bo.r followed
80 long he IN not consider - oNpoiioni to
| doplrl frcm At In n Cine al em.rsrnev.
rat inquired aH TO the cnrrNu roports
thai Mr. carlisle a. ono me- couisuliated
| paNins ~ silver hut ihat Il hid com. 20
TIE tats 81 the pres !cui who sail IT.
must MOI he done
NJ cnrlisls sold h. hoa hca'd Of these
| rflorfs nnl tho statement that tho rrasf-
deH' had ovcrnlod hin. bnt there vla n,t
= word OF 'futh n them Tic sacre.arv
! i'ad mn authorized statement from tbs
r'rsnient showing rev were agreed IN
| hy sold PAYMENTS
re refcrrel noi1sntally 10 some talk
"th Vest os TO silver payments
| hont Nou rem nlher." said Vest IN
that conversation you sad IN th. cven,
G: reaching fhc limit Of the gold r,sorve
YOU had n remedy available namely. use
your option to nay IN silver ana Won
would 10 T. II 7 wsre nit foY IN. rro-
Vision a. "a maintaining the par.iya"
NJ Carlisle sal ne thonsh' Tits View
| 49, 10 parity Expressed his Ut aa. although
| lie eni'1 net recrl the exact conv.rsat on
Then al that time, pnrsued AIr Vest.
YOU a. not claim that E I'D paymen,
was IN pursuance of the ra'cs established
| by Secretary FcSt-tH'
10 YOU remember anotifer conversa.
| ton fpntinued Mr Vest in which YOU
| toll me- sou Ind seen IN" president and
/ he fN'i mat when INC holier Of a gre
buck demanded gold he was entitled to
III"
II recall ne such Conversation" an.
| swcred the sncietarv
Aud tha,," continued Mr. vest 'ho IN.
| prrslasnb had called q cabinet meeting
| fni tho ncSi nrarning2"
| MIR. Carlisle SAD II would I've no viola
| tou OF cnhirei conhlencs ia answer. for
tint question reNer 'ame M ~ oahin.'
| meeting.
| ,ftc~ furfi.tr examination A.r ~, rlfsi,