The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-23

Ing he ouaadns ~ .Ss UDsS states Know.
aSewsnsy bends and 1t I: expressly provided 10 sns
Of redempon such moneys IN the Treasury "may DO q
as s 's Ct q
s aSs u S Re %S, so a M the a
new SonSs can r. s
public debt to the amount o. the bonds
obtain ss. ". ss Witch tax. II. az
S carried SisSsa a. olsH s1 :.ss
!ssy has n 20 doing violated must construed
s en- q ~
Ms.s &c Ss1s
b .sS ss Of a.a ss
tie pubic debit Sc trsnsacspn va. CON-
thereby bssa acrs.sss soaSls oSssss
Limiting the power . 81 the csss n IN this ~
world that, offering these new bonds, were not
rowsr and that on the other hand our policy and
pe''' "~0 sraENarHxNEp OUR CREDIT
deSiedness enabisd to enter upon process reundn
II he paSn
bar Oh Ss s s S s 70 70
every provision Of the which simply provided that he
@ M
s %sls q
Outstanding bonds by the money IN the Treasury and could
q. for that 81 ws as Sr e
he IS
put upon In the negotiations OF this loan and which
he
deem milton Ct the Su;sssn ling ,s bonds today
~ he nsgotiason + tue bonds authorized by the act
be began the negotiation tue new loan Every
S s the
for the correct he is for that prohbd
s h ns &
n he Sa ss a
WV pc possible or him 70 carry Out any Of the proysions
q. sf in the
rh., an. v NEW \: BONDS osnss FOR OLD oSIa , %.
spending Of old hvswen,ss Ths COMMITTEES IN
e
time Sa" Ss s s Ss
proceeds the old any other party hold
The committee considered this resolution in the sas
manner az II had been adopted b. the House instead Of
che ami Of
=: also that Is:
SaS
on hs 81 % is n Mo % psn
o Sns IN c r. s TIC
fsesS ssi Iasss
to receive subscriptions The preference given
to $ exc IKE ps cent e. Angus. 10 ss % &
Sasr a By es Mss 1eS.ys from
Hon William A. Eisaard.Sn, Assistant. Secretary Of =
was Considered and and August an ssrss
~ E WIN %sS r.. J Tss s,a oo
q the the parties 6y Msssrs jay
he Of ss oonSs Iy yn uoce al
time 5 70 The LIST Of ard b. M 5
Bonds per month during The insrVeaias time subject
saa I'VE a nsp po & & % %1S or
II va asS afesa that tps sab,cIpti9gs should be m.Ss
ssusd By ad 20 the he Tsasa oCn
S g b w a % Fl ' a
i Ss nations. S.1:
OF b an % payable IN co,n woaa -
DSIiS money On !5s ssndiioa placing e:
Tosa States for the security Oi ouch deposs Ara az.
Of subscrptons in com FOR the preceding month nteres ~
Il was also stated in The circular That As the bonds casa
ssats ns ssp0 would DO drawn from the several
s ss %s 10 The %
half or per cent allowed BY law upon the $s0o
Rs1 IN 'U dsss ne and IL
81 'as the books were opened in this
try and Europe ana o. the last OF August subscrpoas
+ the transaction hero igvs'sasd b held !s r.
M Ss Vim = found s.ys zSssss u S
sea remain "a ss" during
the time that ne pew and the redemptios ef
corresponding Scade So breclSe Eio1nSs
therefore, that the public debt BY sale
new bond II Is diminished by the depository becoming
debtor 70 the government to the full balance Of The ohs
leaving the aggregate the before the
commenced; but the commitees Of opinion that SUED
Interpretation necessary for the justification the Socr
tary
The second allegation Of the resolution that the Score.
ary has exceeded the oneha one per cent allowed 6v
the Funding for all expenses placing sAid loan Thb
statement Of the upon which this loan has thus ~
been negotiated bv the Secretary 10 Aha COR.
fnitee IL the Same that submitted 10 his snnna1
and heretofore recte To
facts; II fully answer this allegation from tk0f
statement appears that deducng from the aagrerafS
which onehaH per the loan would amount ID "a
The expenses thus far attending this negotiaon -
OF which been paid national banks and thsP
agencies negotiation OF as they had been able g
make, the balance OF oneha per cent no mora
&, w6 Jay Cooke
q correct-and the COMMITTEES reason to doubt
itthen apparent that the limitation Of onshaf -
cent
HAS NOT BEEN EXCEEDED TITUS yAs