The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-01-18
A s5O,OOO,OOO BOND ISSUE.
sECRETIRY CARLISLE OFFERS THAT
AMOUNT FOR SUBSCRIPTION.

They Ar. 20 ne Five Per Cent. Bonds. but
the Secretary xes an Upset Priee,
witch He says VIII Msh. Them Equal
to o FER Cent.-Conditio, ofths Treasury.
WASHINGTON, Jan. 17.--secretary Carlisle this
evening issued the following circular Offering
for public subscription an issue OF bonds to the
amount OF $50. OOO,0oO:
by virtue Of the authority contained In the act
entitled Anset to provide tor the resumption specie
payments" approved Jan ~ 1875. the Secretary Of
the treasury hereby offers for public subscription
issue of bonds OF the United states to the OF
tJn,O0OoOO In either registered or coupon form in
denominations OF $50 and upward redeemable in coin
at the pleasure Of the Government after years from
the date OF their issue aud hearing interest hay able
quarterly In coin At the rate OF per cent annum
Proposals for the whole any part OF these bonds
will be received at the Treasury Department. ocs Of
the secretary until ~ noon on thu FIRST day OF
February 1894 Proposals should state the smount Of
bonds desired. whether registered coupon, and the
premium which the subscriber proposes 20 pay. the
place where IL desired that the bonds shall he de
vered and the ONCE. whether that OF the ensurer
OF the United States Assistant Treasurer OF the
United States where It will be most convenient for
tho subscriber to deposit the amount Of his subscrp
ton. Failure to specify the above particulars may
cause the proposal to he rejected.
As soon as practicable after the nrst day Of Fsbru
AIRY, 1924. tho allotment OF bonds will be made 10 tho
highest bidders therefor, but proposal will be
sidered at lower price than III 22J. which IL the
equivalent OF three per cent. bond par. aud the
right to reject any and all proposals 10 hereby sx.
pressly reserved In case the bids entitled to RIot
exceed the bonds to be Issued they will be Allot
ted pro RATA
Notice. OF the date Of delivery OF the bond, will b.
sent to the subscribers to whom alotmonts are made
as practicable. and within ten days from the
date OF such notice subscriptions must DO paid In
United States gold coin to the Treasurer such A.
ant Treasurer oftho United States the subscriber
has designated and IL not 80 paid the proposal may
rejected.
The bond. will b. dated Feb /. 1894. and when nav.
msnt made therefor above. accrued interest on
both principal and premium from feb 1894 to date
Of payment atthe rate OF interest realized to the sub
scrIbsr on his Investment will be added
All proposals should be addressed TO the Secretary of
the Treasury. Washington. b. e. aad should be dis
tIncty marked Proposals for subscriptions to i've
per cent bonds" J. q. CARLisLE Secretary.
The action Of Secretary Carlisle in announc.
ing bond issue was not generally known, even
in Treasury circles. when the departm ent closed
to-day. Among officials who were coGnizant
OF his intentions. the opinion was expressed
that he acted none too soon. Treasury gold 10
rapidly on the decline. The loss to-day was
1892. 900. and since the first Of the month the
gold balance has declined from $50. SOL 900 to
S70034.0 15. with the present Indication that
II will fall below $40 600. 900 to- morrow. Tho
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. II 10
anticipated may only give temporary relief
Gold may be paid into the Treasury 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.
Tine effect Of the bond issue. however. will
be to give the Treasury more money. whether
gold or currency Is immaterial. aud ease up
Government finances. at least for the present.
Mr. VIII II. Low. the artist OF AZ West Fif-
teenth street this city. who has been tempo
rarly appointed by Secretary Carlisle q
designer n the Bureau Of Engraving and Print
ing ut salary Of $4,000 year. yesterday de-
clined to dlscuss his appointment.
When asked IL he knew what the nature OF
the work expected OF him was. or how long he
expected to hold the post, he answered
his former statement that he could not yet
speak OF tho matter.
1t Is probable. however. that Mr.. Low has
been engaged to make u design for the bonds
that Secretary Carlisle IL about to issue. Mr.,
Low is probably the best American artist for
that work, one OF his latest efforts in that limo
being the Worlds Fair diplomas. lie con-
tributes largely to the illustrated weeklie and
magazines. and has done some praisewOrthy
decorative painting. notably at the Hotel Wall
dorf
Mr.. Low studied abroad and was for some
tine under the instruction OF Jerome In Paris.