The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-11
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DAILY, $40 A YEAR.
5 CENTS A COPY.
WEEKLY 81 IS A YEAR.
NO BONDS TO BE ISSUED.
NEW YORK BANKERS COME TO
FOSTERS RESCUE.

They Offer to Let Him Have
S5oooO,ooO in Gold and He Has
Accepted It-ax-senstor Carlisle in
Daily Consultation With Secretary
Foster-He is Relieved Over the
Passing of the Crisis.
WASHINGTON. Feb. 10.-5eoretary
Charles Foster Of the treasury went to New
York tonight to confer with the bankers
who have offered, he says, to let him have
gold TO ths amount Of $50, 900, 600 il necess
sary TO meet the demands on the treasury,
which offer he says he has accepted. 10
was great relief to President Harrison and
the rest Of the administration when the
secretary announced at the cabinet meeting
to-day that he would not have to issue new
bonds in order to get gold because he had
received this morning this generous offer
from the banks in New York. The
President, Secretary Foster and the rest OF
the cabinet were extremely anxious to find
some way out which would render the is-
suance of new bonds unnecessary up to
March 4, and they were highly gratifed by
the fact that the New York bankers have
come to their assistance so effectively.
Secretary Foster is assured by his personal
friends among the New York bankers that
there is no danger of any financial trouble
during the present month at least They
tell him that the gold exports will rapidly
fall Off and that the gold tide
will turn to this country as
the opening Of the worlds fair approaches.
Secretary Foster was grahfied to find to-
a. a. - - r
TO stop the silver purchase had not materi-
ally affected prices in Wall street.
Senator Carlisle, who, as the successor OF
Secretary Foster, is just as Enuoh interested
in the financial problem, and has spent a
good part OF the last two or three days az
the treasury department giving Secretary
Foster the benefit of his advice, is as much
relieved as Secretary Foster ar the turn
affairs have taken. Senator Carlisle
was greatly disappointed by the vote Ia the
House yesterday but is Rratifed to find that
its immediate effect was not as detrimental
as he had feared. Personally he believes
that a compromise measure involving the
stoppage Of the silver purchases could be
gotten through the House yet but be- has
not as yet advised his friends in the House
to attempt 1t.
In spite of the statement from Secretary
Foster to the effect that he does not pro-
pose at present to issue new bonds some of
the democratic senators aud represe ntatives
who are especially familiar with financial
matters, believe that while technically the
statements may be correct that practically
he has arranged with the bankers who have
offered TO help him out with gold, 80 as 10
give them bonds for 1t. They believe that
certificates TO that effect have been given to
the bankers.
RUMoRs OF A BAD SALE.
BV the Associated Press
WASHINGTON, Feb. TO- .-Represeutativ
Bynum OF Indiana to-day introduced the fol-
lowing resolution in the House:
WHEREAS, IL is currently reported that the
Secretary Of the Treasury intends and has pre-
pared TO issue government bonds TO the value
OF $50 100 COO and to dispose of the same at
private sale TO a syndicate at their face values
and,
WHEREAS, Bonds Of the character reported as
proposed to be issued by said Secretary Of tho
Treasury are selling in the market at a premium
of about IA per ceuI therefore, be IL
hesotUed, That the Secretary of the Treasury
DO and is hereby requested to inform this
House whether he contemplates the issuance
OF any bonds OF the government, and, II so.
how, where 70 whom and at what price it ts
proposed TO dispose of the same
Mr.. Byunm was asked whether or not he
had reason to believe that the Secretary OF
the Treasury was about to issue bonds. He
replied that such was the report. and he had
heard the report from several sources. 1t
was reported that the secretary was about
to issue $4,000 600 In bonds with which to
secure gold, that the. bonds had all been
taken by a syndicate Of bankers, and thab
the gold he had received from the banks
this week had been given as part Of the
transaction. IL was proposed TO ascertain
whether or not the report was correcs.
A statement was published here
| this afternoon, aud also telegraphed
TO New York, that Secretary
| Charles Foster is now issuing bonds or cer-
tificates, to be converted into bonds In order
to replenish the stock Of gold in the treas.
ury under the provisions ct section Of the
resumption act, and that over $50,000,000
are TO be ssuedn
Secretary Foster, before leaving for New
York this afternoon 60 attend the Lincoln
banquet, authorized an emphatic denial to
be given TO this publication.