The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-11-21
TO RUN At LEAST TEN YEARS
Redeemable Thereafter at
the Governments Will.
Firm Friends Are CleVe-
land and Carlisle,
The President Denies the silly state
ment Recently Mnde-The Second
POstmnster-GcneraI Makes His An
nunI RepOrt-Silver DemOncttzed in
Honduras.
BUREAU OF THE SENTINEL.

BUREAU OF THE SENTINEL,
WASHINGTON, D. c., Nov Is.
As stated in these dispatches the call
for fifty-million-dollar loan has been
made by the treasury department. Wall
St became impatient at the delay, and at
todays cabinet meeting the matter was
discussed with the result that Immediately
thereafter the proposal for the bonds was
made public.
The opposition press has seized upon
this bond issue as a pretext to bring
about, if possible, an arrangement be
tween Secretary Carlisle and President
Cleveland. According TO nearly all the
dispatches that have gone out from this
city within the past two weeks on the
subject Of bonds the statement has been
made day in and day out that there was
a radical difference of opinion between the
president and his secretary of the treas
ury. Some correspondents have gone so
far as to say that there is an open rupture
that cannot be healed and that the resig-
nation Of the secretary of the treasury
may be expected any day. OF course
there is not the slightest foundation for
any of these sensational reports. Your
correspondent has ii from the best Of au-
thority that the relations existing between
the president and Secretary Carlisle are
most cordial. and that not for one moment
have they disagreed as to the vital i'm
portance of a bond issue at this time to
protect the national credit
As near as can be ascertained, the only
point of difference between the two gen
tlemen was this: The president thought
the call should be for $1,000 600. while the
secretary thought the cal should be, as
the February issue. S5O,OOO.OOO. 1t was
pointed out that a fifty -million-do,lar bond
issue would tide the country over until
the new tariff could get in its good work
and increase the revenues, and in the
meantime congress would 1egiSlatc upon
the subject, thereby doing away with any
future necessity Of a bond issue. The
president saw the force of the secretary's
position and agreed that a fffty-mi.lion-
dollar bond issue would answer every pur-
pose, and then if congress failed TO legis-
late the administration could not be held
responsible by the country.
The attacks that have been made on
Mr.. Carlisle will fall fiat and Will not de-
tract from the splendid record he has
made as secretary of the treasury. As
the law firm of Cleveland & Carlisle will
be inaugurated in New York in March,
1897. this does not look like there was
gentlemen.
Provisions of the Call.
Secretary Carlisle late this afternoon is
sued his call for bids for S5OOOOOOO per
cent. ten year bonds, interest to be paid
in coin, which is interpreted to mean gold.
The only material charges made in the
present call from that issued Jan. II last
are the omission of the upset or minimum
price which would be accepted, and the
notice that the proposals for the present
issue must be sealed. II is confidently
expected al the treasury department that
an amount will be realized considerably
in excess of that received from the
February issue. This expectation is based
on the fact that there are exceptionally
large amounts of money now lying idle
and seeking investment in the money cen
ters of the country and upon the further
fact that the February issue is now
quoted at S11S.5O. or about 2 per cent.
above the price, which would yield per
cent.
From the last issue there was realized
$5S, 660, 81. 60, and of this amount So, $780,
264.24 was in gold coin, $3.50. APO in gold
certificates, and S233.39 in other money,
which the sub-treasLries were compelled
to take in making change. While these
amounts were actually paid into the treas
ury in gold or its equivalent, a very con-
siderable amount of gold was withdrawn
from the sub-treasuries for the express
purpose of using it again in paying for
the bonds. The exact amount thus with
drawn cannot be ascertained, but the best
knowledge obtainable is that it approx
mated $15,000,000. With view Of a more
exact estimate of the amounts which may
be withdrawn between now and the settle
ment Of all accounts under the call, the
sub-treasuries Will from this date keep a
record of all deposits of legal tenders
made in exchange for gold and the names
Of the firTas or persons making them. The
following is the secretary's circular calling
for bids:
TREASURY DEPARTMENT,
WASHINGTON, d. c., Nov. 13 1894
"By virtue of the authority contained in
the act of congress entitled an act TO pro-
vide for the resumption of specie pay
ments, approved Jan. Il. 1875, the secre-
tary Of the treasury hereby gives public
notice that sealed proposals will be re-
ceived at the treasury department, Office
of the secretary, until II o'clock, noon, on
the oath day of November, 1894, for United
States per cent. bonds, in either regis
tered or coupon form, dated Feb. l. 1894
redeemable in coin at the pleasure of the
government after ten years from the date
of their issue and bearing interest pay
able quarterly in coin, at the rate of
per cent per annum.
bidders whose proposals are accepted
will be required TO pay 20 per cent. in
gold coin, or gold certificates. upon the
amounts of their bids as soon as they
receive notice of the acceptance of such
bids and TO pay in like coin or certificates
an additional 20 per cent. at the expiration
of each ten days thereafter until the whole
Is paid, but they may, at their options,
pay the entire amount of their bids when
notified of acceptance, or at any time
when an installment is payable. The first
payment however, Of not less than 20 per
cent must be made when the bidder re-
ceives notices of acceptance of his pro-
posal.
THE denominations of the bonds will
be $50 and upward, and bidders will, I'm
their proposals. state the denominations
desired, whether registered or coupon, ths
price which the bidder wishes to pay, the