The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-02-20
HAS NOT ISSUED BONDS
Foster Says the Emergency is
Not Great Enough.
NONE HAVE BrEN SOLD IN EuEorG.

Hc Tmphnticaliy Denies the stories that
Have Been Circulated in Financial Cir
clos Treasury Now in Good substantial
Condition.
WASHINGTON, Feb. 90 Tho attention
of Secretary Of the Treasury Foster was
called last evening to the report that ar
rangcments had been made with New
IorE bankers for the sale Of SO. OlJ. OJ1
worth of United States bonds iu England
The Secretary deuiel the truth Of the re-
port, ut least to the extent of saying that
he had no information whatever ON the
lubiect. If any such arrangement had
be made, he said, he was not aware Of
che fact
you may say emphatically, he
added, 'that l know nothing whatever
about the matter.'
The Secretary is inclined to think that
certain American capitalists, having sent
large quantities Of gold out of the coun-
try through foreign Wall street bankers
are endeavoring to avoid just CriJicIsm Of
their actions by having the ceusurt fall
upon the heads Of those who JCJed as the
agents
These bankers have become impatient
at being made sctpegOats of, aud have
ceased, in measure, their shipments of
-od.
This policy, the Secretary thinks, will
loo continued, and as Il result there Will
be much less gold sent out Of the country
hereafter.
The Secretary said that the Ire asury
is in much better shape now JAan it has
been.
There are $1,000, 600 ON hand, in adli-
Jiou to the 500, ,UOO 600 gold reserve
fund, with no prospect OF an unusual re-
ducUon at present, but rather Of sub
stautlnl increase
In answer to direct question as to
whether he had issued any bonds, the
! Secretary said:
mo, have not, would not take such
a step unless it was a case Of necessity,
| which doesn't exist | have a right TO
issue boads under the existing law, and
! would not hesitate to do my duty in case
F, Of an emergency Before issuing bonds
] would feel obliged TO consult my sue
! cessor Tor / nave nat two weeks TO re-
main in Office and l would not care to do
anything in that direction wiUhout first
consulting him."
How does the adoption of the Sher-
man bond amendment in the Senate affect
the financial situationr'
1T provides THAT bonds may be sold to
protect the gold reserve fund, Some of
my predecessors established system by
which the god reserve fund is to be kept
up to certain point. Under the Sher-
man amendment, if there is "a prospect
of the reserve fund failing below The
point fixed by the existing practice, l may
sell bonds to keep the fund intact With
| out the Sherman HueudmeuJ l am per
milted to sell bonds but l caDuot demand
that they snail he paid for in gold, Under
the existing law they may be paid for III
coin or coin certificates"
The Secretary concluded by saying that
! even if he desired to issue new bonds he
would hardly have time to prepare theI
at the Bureau OF Engraving and Printing
before the close oil the present Admins
tiOu.
ALBANY, Feb. 20.-It is stated on th'
very best authority that DreXel, Morgan
&, Co. have offered SgJ,OOO,OJJ OF UulJeC
States bonds to OuuN-r7 in London. lui
is regarded as establishing the decision o.
the Secretary Of the Treasury 10 issgy
bonds. Whether the ouar was a BON
Gde one to deliver bonds or was mad
simply to test JLe London market is IN
| known. 1t is regarded, however, as iuai
eating q policy OF accommodating gold fol
the treasury iu foreign rather 5n,u do
mesJiC murAeJs.