New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17

Mr. i Pirrnon' Morgan. Whether Intentionally
or not nut. President Cleveland Ia mos Tin
desirable prcliramcnt There : no word Of
.o,nullinf ar c.n>urc in his statement. 10 SUE
s,sion that any contract WAS made en- Induce
m,Yt cfre,rl 10 him t. make mp his syndicate
wen lc iir>. visited Washington. December -.
nothing that can 'ycl by strained construction
III. h.ll a betrayal Of any confidential Interview.
ON fl. contrary. d. appears that. in spite 81 rs
s-rouc ar.uucu. IN lis letter >cni 80 thr Ff'"l-
dem on Saturday,. J1nu'ry I. against ANY az
Tenant fo raise rloncy without tn all of syn
li.tf. fhc President proceeded with some haste
- have the ,ln issued on Monday. January Il.
and Mr. Moran state, with evident gIaiira
,ion That IA. subscriptions already assured. III
some ,aSc, hy hi~ earnest effort. insure ihr >I'-
,,ss If IN. loan Mr. Morgan appears in fhS
ma'tcr ~ citizen of exceptional power :" h'iP
fla. G.vrrumcni I'm IFS straits. who prepared OF
mn. own motion 10 Offer To the Treasury ll.''oo'-
600 ounces gold. without drawing from the
Treasury. II the Govern wished that bar
cain. bni ~ ihD same time rrolicrcd his best
efforts 70 help 'l, Goy,rum, nt In public sale
If preferred A. = yindicai,on Of Mr. Morgan
and hl, associates. with respect 10 any SUR east
,nou them in the Presidents letter 10 senator.
the statement j. >ui' ieni
Euf If + more II Mr. Morgan WAS invited
fo WASHINGTON for conference December -,
II WAS h, tine Presidents authority. and precise
~ N the time the President WAS Historically
,ppralinr t. Congress To- stay In session during
the HOLIDAYS in order to provide by law for
different Kind If bonds Nothing colll exhibit
in stronger light the in>nccrty Of that appeal
to Congress or lis folly. for il greatly increased
anxiety and dislgu>t Just ~ Tim" when the
administration. having no idea that 'on-r' -
Nnuid do ANYTHING. sending for Mr.. Nor
.,,n Nnt even the most intensely partisan
friends of the President VIII feel that this Is
= crclitablc record. What was said 10 Mr. Nor
can he does not state. But he went away 10
make up ~ quickly H. posNib" subscription
for exactly the amount and exactly III" KIM OF
hands that were aftcrwarl offered. Does any
hodv believe that he did 80 II he was not As
sur,d in the plain words which 50 experience
e, nnnn,lcr would have required, that this action
vould be in harmony with the Presidents
wishes:
one other fact comes ont which is itself IN
Indictment Of the Administration. MT Morgan
~ Il result of his conference came 10 the con
".lu,ion that The executive department would
..prcfcr if possible. 10 secure S2Uoooooo" OF
gold IN order to avoid any probable necessity
"of II similar negotiation before the meeting "f
~ ncw Congress in 1891" Having Just pub
licly appealed 10 the Congress in session, ana
being most loyalty answered by the omission
Of holiday vacation and by extraordinary
speed in acting upon bill increasing revenue.
the President deliberately 'prctcrred 10 borrow
5000 UOOOOJ 50 that government could De car
rlcd on in spite of monthly deficit without any
change Of revenue law. This is ia" plain Eng
fish Of the business. The loan was wanted IN
order 10 enable the President 10 defy the wishes
Of the people expressed through Congress until
the end of his Presidential term We take it
that no other American President. not even An
drew Johnson in his widest moments. ever de-
uhcratclv attempted such high-handed dcii1ncc
Of the will of Congress to which he had just
insinccrry appealed TO save the Treasury from
bankruptcy.
This disclosure will not lessen the disposition
Of Congress 10 restrict the power Of Il President
who thus plans with banking syndicatcs To face
n deficit Of S1OoOOOOOO year rather than per
nit the revenue 10 be in 'rcased. For. be II
noted. the Administration Itself calculated. ac-
corcling to Mr.. Morgan. that S2oo.ooo.ooo would
be needed. ito avoid any probable necessity for
IA similar negotiation before the meeting Of the
new Congress in lNJI"-that is two years
hence The President and Secretary publicly
tell TIE country in Official messages ana reports
that there j. no deficit. and no need Of more
revenue although the Lc,ici, in fifteen days of
january has exceeded s7.oOc,O0O. a. the same
fine they enable bankers To understand that the
Administration deems S2OO.OoO.OUO requisite In
order 10 avoid any 'probabc Necessity" foi Dor
rowing again within two years. l. II not time
for Congress to do something besides talk: If
Senators have either scif-rcspcrt or respect for
the will Of their constituents. they will quit chat
tcring and begin to make liW ar two onc at
least increasing the revenue. and another re-
siricting the power Of the Administration TO