The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-18
CARLISLE OFFERS BONDS.
Subscriptions Asked for an Issue Of
S5O.OOO,OOO IS.

No Proposals to be Considered at a
Lower Price Than 117.223-The
Bonds Must be Paid for in Gold.
They Are to be Redeemable After
Ten Years at the Option of the
Government.
Washington, Jan. 1.-THE following is
the text Of the circular which Secretary
Carlisle has just issued:
BY virtue Of the authority contained in the
act entitled An act to provide for the re-
sumption of specie payments. approved Jan.
"a. 1873. the Secretary of the Treasury hereby
offers for public subscription an issue OF
bonds Of the United States to the amount Of
100000. in either registered or coupon form,
In denominations Of $50 and upwards, redeem
able in coin at the pleasure Of the govern
meut after ten years from the date OF their
issue and bearing interest payable quarterly
in coin. at the rate OF per cent. per annum
Proposals for the whole or any part
of these bonds Will be received at
the treasury department, ofhce OF the
secretary, until II O'Clock noon, on
the first day OF February 1894. Proposals
should state the amount OF bonds desired
whether registered or coupon, and the pre-
MUM which the subscriber proposes 10 pay
the place where II is desired that the bonds
shall be delivered and the ONCE, whether
that Of the treasurer OF the United
the United States where it will be most con
venient for the subscriber to deposit the
amount of his subscription. Failure to spec
tfy the above particulars may cause the pro
As soon as practicable after the first day of
February 1894, the allotment of bonds Will be
made TO the highest bidders therefor but no
proposals viii be considered at lower price
than ll7.223 which is the equivalent OF 3
per cent. bond at par. and the right TO reject
any and all proposals Is hereby expressly re
served In case the bids entitled to allot-
ruent exceed the bonds to he issued, they
will be allotted pro rata.
Notices of the date OF delivery OF the bonds
will be sent to the subscribers TO whom the
allotments are made as soon as practicable
and within ten days n from date
OF such notice, subscription must be
paid in United States gold coin TO the
treasury, or such assistant treasurer OF the
United States as the subscriber has desis-
mated. and If not so paid, the proposal may be
rejected. The bonds will be dated Feb. !,
1894 and when payment is made therefor as
above accrued Interest on both principal and
premium from Feb. 1, 1894, to date Of pay
ment, at the rate OF interest realized to the
subscriber on his investment, will be added.
All proposals should be addressed to the
Secretary Of the Treasury Washington, D. G.,
and should be distinctly marked, Proposals
for subscriptions to per cent bonds"
j. G. CARLISLE, Secretary.
ACTED NONE TOO SOON.
The action of Secretary Carlisle, an
known, even in treasury circles, when
the department closed to-day. Among
officials who were cognizant of his inten-
tion, the opinion was expressed that he
acted none too soon. The treasury gold
Is rapidly on the decline The loss to-day
was 1862, 600, and since the first Of the
month the gold balance has declined from
$50, S91 900 to $40, 634,9l5, with the
present indication that it will
fall below S70,00000O tomorrow.
The bonds are of course to be purchased
for gold only, so the treasury gold will
be built up to the extent of the bond
issue. This, however, it is anticipated
may only give temporary relief. Gold
may be paid into the treasurr for bonds
one day and the very next day the same
gold may be withdrawn by presenting
legal tender notes or coin certificates for
redemption. The effect of the bond ISSUE
however, will be TO give the treasury
more money, whether gold or currency is
immaterial, and ease up government
finances, at least for the present.