The times., 1898-04-28
OPPOSE THE tissue Of BONDS
The Attitude OF the Silver Men
Causes Republicans Trouble.
PARTY LINES BEING DRAWN
There Is Promise of n Long Finnp-
cinI Discussion-The POpuIists
Issuance of Any Bonds ns an Tn
necessary Measure.

The extent to which the radical silver
men in the Senate will carry their oppo-
sition to the bond feature Of the Hoase
war revenue measue bill is 4 matter that
is causing the Republican leaders some
uneasiness.
Still, they believe they Will be able to
put this part of the proposed measure
through the Senate by reason of the fact
that it is war measure solely.
The radical silver men refuse to take
this view of the case. They deny that
they are unpatriotic and assert their Viii
ingness to give the Government all the
money it needs to carry on the war. but
with this assertion is coupled the en-
phatic statement that bonds are not
necessary The forces are lining up on the
money question, and despite the fact that
we are now face to face with war, there
is every promise of long and tiresome
financial discussion. The Populists have
caucused and resolved to oppose any and
all issues of bonds and it is understood
that rather than see bonds authorized
they will do what they can to prevent
the passage of any bill at all. Some of the
silver Democrats are equally vehement
against further increase in the interest
bearing debt and Chairman Jones, OF the
National Democratic committee, IS TAX
| ing the lead on that side of the Chamber
although the whole of his party does not
| appear to have banked itself behind him
The silver Republicans under the
guidance of Mr.. Teller. are making mo
| bonds" their shibboleth and 1t will not
| be difficult for Mr. Teller to keep his
! followers in line.
| In place Of bonds Treasury certificates
| of Indebtedness and greenbacks are sug-
| gested. The coinage of the more than
| $100. 900 900 of silver In the Treasury be-
| hind the outstanding Sherman notes is
| demanded by some. and by others ii is
| contended that the least the Government
| can do is to coin the selgnorage. An in
come tax. direct taxation OF various
| sorts; in short all possible suggestions
| for raising money and avoiding the
| practice Of borrowing is advanced and
until all these resources have been ex-
| hausted the silver men, 1t is pretty safe
| to predict, will not agree TO anything in
| the shape of goods. For this reason there
| appears TO be good grounds for the be-
| lief that the debate in the Senate will be
prolonged and that the two Houses will
be deadlocked on the subject of how
| best TO raise the war revenues.
Meantime, however, it will be impossi-
BILE. to establish a blockade on the
Treasury or starve the Administration
into submission to financial propositions
with which it IS not in accord Under
existing law the Secretary of the Treas
ury has authority TO issue bonds to
maintain the gold reserve. This is a
fiction not warranted by the facts, but
Cleveland did it, and Mckinley will do
| it if he runs short of money just as 1t
! has been done before. The money thus
| turned in will be used for current ex-
penses. If the war proves costly. and
Congress is unable to agree another is
sue of bonds will follow 10 maintain the
gold reserve" and that money will be
used to liquidate our expenses.
1t would seem, therefore and Senators
are pointing out this fact. that it would
be good business sense to agree upon a
measure promptly and suppress any ele-
ment that seeks to play the role of OBJ
structionists. All parties have united
in urging the Administration to be firm
and fight If necessary. The President
is now fighting. and all parties must
aid in supplying the sinews of war