The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1894-01-18
Called for in a Circular Issued by
Secretary Carlisle.
FIVE PER CENTS TO BE SOLD AT
A PREMIUM OF 1928,


in One Day Is Likely To Be Taken Out
the Next.
Washington, January IT, Secretary
Carlisle this evening issued circular in
viting proposals for fifty million dollar
issue of five per cent bonds on a three
per cent basis, running ten years. No
bond will be sold for less than $117. 223.
Bonds will only be sold for gold, to be
redeemable in coin. Proposals will be
received until noon of February /, 1894.
Copies of the circular will be mailed to-
morrow to ali sub-treasuries. The ac-
ton of Secretary Carlisle was not gener-
ally known, even in treasury circles. when
the department closed today. Among
the officials cognizant of his intention,
the opinion is expressed that he acted
none too soon. The treasury gold is rap
idly on the decline, The loss today was
1852, 600. Since the first of the month,
the gold balance has declined from SSO,-
S91, 900 to $70,634, ,915. with present in
dication that it will fail below seventy
million dollars tomorrow. The bonds, of
course, are to be purchased for gold on
y ,oO UIOGouly ROltl Will U6 UUlIlb uD TO LI6
extent of the bond issue. This, it is an
ticipated, may only give temporary re-
lief, as gold may be paid into the treasu-
ry for bonds one day, and the very next
day the same gold may be withdrawn,
by the presenting of legal tender notes
or coin certificates for redemption. The
effect of the bond issue will be to give
the treasury more money, whether gold
or currency is immaterial, and ease up
the government finances at least for the
present. The following is the text of
the circular:
'By virtue of the authority contained
in an act entitled sAn act to provide for
the resumption of specie payments ap-
proved January IA, 1875, the Secretary of
the Treasury hereby offers for public
subscription an issue Of bonds of the
United States to the amount of $50, 0OO,-
900, in either registered or coupon form,
in denominations of $50 and up
wards, redeemable in coin at
the pleasure of the government
after ten years from the date of their
issue, bearing interest payable quarterly
in coin at the rate of five per cent per
annum. Proposals for the whole or any
part of. these bonds VII he received at
the Treasury Department, Office of the
Secretary, until noon on the first day of
February, 1894 The proposals should
state the amount of the bonds desired,
whether registered or coupon, the pre-
| MUM which the subscribers proposes to
pay, the place where 1t is desired the
bonds should be delivered. and the
Office, whether of the treasurer Of the
United States or an assistant treasurer
of the United States, where it would be
most convenient for the subscriber to
deposit the amount of his su description.
"a oI1r Il.
may cause a proposal to be rejected As
soon as practicable, after the first day of
February, 1884, allotment of the bonds
will be made to the highest bidders
therefor. No proposal will be considered
at lower price than 117.223, which is
an equivalent of a three per cent bond
at par. The right to reject any and all
proposals IS hereby expressly reserved. In
case the bids entitled to allotment exceed
the bonds to be issued, they will be al
lotted pro rata. Notices of the date of
the delivery of the bonds will be sent to
subscribers to whom allotments are
made as soon as practicable. Within ten
days from the date of such notice SUBJ
scriptions must be paid in United States
gold coin to the treasurer, or such assist
ant treasurer of the United States as the
subscriber has designated. If not so
paid, the proposal may be rejected. The
bonds will be dated February 1, 1894,
and when payment is made therefor, as
above, accrued interest on both principal
and premium from February l, 1894, to
the date of payment at the rate of in
terest realized to the subscriber on his
investment, will be added All roposals
should be addressed to the Secretary of
the Treasury, Washington, D. c., and
should be distinctly marked Proposals
for su bscriptions to five per cent bonds, !,
"J. e. CARLISLE, Secretary"