The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-01-23
TIE NEW UNITED STATES LOAN.
jay Cooke and Rothschfid's Oner to
Take Six Hundred MtIltonJ.
Jay Cooke publishes the following card in
the Philadelphia newspapers:

Jay Cooke publishes the following card In
the Philadelphia newspapers:
Some portions of the press of this and other
cities haviDgexpressed doubts as to the reali.
ty of the recent proposition made to the secre-
tary of the treasury by myself In behalf OF Jay
Cooke, McCuloch d Co., and Rothschilds q
Scne, Of London, deem 1t proper to cay That
such proposition, and under such authority
from London, was made In entire good faith,
and the parties Interested are ready to carry
out promptly the negotiations as soon as The
secretary of the treasury is able to comply
with It's terms, and shall conclude to accept
the proposition.
The facts are these: About the 22d Of De-
cember, ]. Cooke, McCulloch Il Co., of Lon
don. amer a aconference with the Messrs. Roths-
childs, agreed upon joint proposition as fol-
lows: TO take $50, ,000, 900 of the new five per
cent. loan on or before the lst Of February
next, with the option of $60,000,0OO more
during this year, and should Congress accede
to the secretary's Recommendation and make
the interest payable in Lohdon. then to take
an additional 5000, 100000 of the Aves and
$500, ,0OO, 900 of the four and halls on or be-
fore the close OF 1873. The negotiation Is,
with the exception OF one amendment-to
make the interest payable In London-tc be
on the precise terms, as to time and mode OF
ed In the $3.50, 1000, 900 negotiation. The
secretary, also, was required to noti-
ty from time to time payments Of future
sums OF six per cent. bonds precisely as be-
FORE This proposition was telegraphed to me,
and sent special messenger 70 Washington
with 1t, and 1t was presented to Secretary
Boutwell, on the morning of the 23d ull1mo.
Mr.. Richardson also telegraphed to the secre-
tary from London duplicate OF the PROPOSE.
'tion on the same day. My brother, Governor
Cooke, telegrsphed to me from Washington,
after his audience with the secretary, thai the
proposition was favoraby received and was
being considered, and shortly afterward asked
me, at the request oil the secretary, II the pay.
ment Of interest abroad was sine qua non.
AS soon as the letters arrived from London
containing the particulars of the arrange
ments with the Rothschilds and the full text
OF the proposition, copied the same and Tor.
yarded the documents to the secretary,
where they now are on file awaiting his ac-
ton. I regret exceedingly that Mr.. Bout
well, when asked by reporters and Others Us
to the truth OF the rumors, did not state what
had occurred. But this is not our fault, and
we are not willing to have our good name
and consistent course brought Into question,
and therefore give all the facts as above.
4 The proposition was made, just as tele-
graphed from London, In entire good faltn,
and will be promptly worked out to success
ful termination as soon as Mr.. Boutwell, gives
tls and those who are associated with us the
power to act. The whole six hundred mil
lions, in my opinlon, can be funded into
four and half and five per cents. during the
present year, which, together with what has
already been done, will save nearly ten mil
lions of dollars per annum to the treasury.
JAY COOKE.