Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-18
A Capitalist Wants to Take the
Whole Issue.
WILL NOT BE ACCEPTED.
It Is Desired That the People
Should Get the Bonds.
TO BE READY ON TINE

Treasury Department for the issue of $780,
100000 five per cent bonds in accordance
with the terms of yesterdays circular.
That there will be no difficulty whatever
In placing the entire amount of the loan is
shown by the offers already received by the
Secretary of the Treasury, and some of the
| largest dealers in government securities
have not yet been heard from on the sub
ject A well-known capitalist had an inter-
view with Secretary Carlisle this morning
and expressed his willingness to take the
entire s5O,0OO,OOO at the minimum premium
| of $117,223.
There is no likelihood of the acceptance
| of this or any similar OFFER as it is contrary
| to the Secretary's desire of making the loan
a popular one TO which the public generally
may subscribe. On this theory it is pro-
posed TO encourage offers for small lots
from all sections of the country rather than
| to have the entire loan taken by a few deal
ers in large blocks. The idea naturally in
| cludes the hope that the small denomina-
tons be taken in preference to the larger
ones. This would, of course, mean the is
sue OF great many more bonds, but at
the same time would indicate that they were
in the hands of the people rather than in
the hands of capitalists exclusively.
The Bonds Ready.
The plates for the new bonds are in an
advanced state of preparation and will be
| completed in every detail i'm ample time
for delivery after the LIST of February, the
date fixed for the consideration of the Of
fers for the purchase of bonds.
The issue for the present will be confined
to denominations of $50, 500 and $1,000 of
coupon bonds and $50. 500, $1,000 and
$4,000 of registered bonds In case it is
deemed advisable arrangements will be
made for $500 coupon and 5000 registered
bonds. The plates for these last two de-
nominations are not ready yet, but can
be completed in a few weeks in case they
are needed.
All the plates referred to were made at
the bureau of engraving and printing early
last spring by order of eX-Secretary Chas
Foster, in anticipation of an issue of
bonds during his administration, but the
plan for their issue finally disapproved
by President Harrison.
No Delay.
1t has been necessary to make certain
changes in the date and legend on the
plates, but otherwise they need no altera-
ton for present use Chief johnson of the
bureau of engraving and printing told a
Star reporter today that the bureau would
have no trouble whatever in supplying the
bonds at the time fixed for their issue, and
that it would not require an increase of
force and very little extra work to prepare
the bonds. He said that Mr.. Will ii. Low
the New York artist, had been employed
for a short time, with the view of improv-
ing the general work of design at the bu-
reau, and that he would have nothing to do
with the preparation of the plates for the
Few bonds.
Several Offers.
Today Secretary Carlisle received quite a
number of offers for the bonds. One offer
was for sloOO0O at S1.1S. Secretary Carlisle
believes from offers already received that
the total Offering will aggregate nearly
s2OoUO.O0 and that the price will reach
sl.2o, making the bond practically bear = IL
per cent interest.
Gold Distribution.
In view of the fact that the new issue of
bonds will be sold only for gold it is inter
csting to note where the gold in the United
States is. Official returns made to Con-
| troller Eckels by national banks on De-
cember 10 last throw some light on this
subject. Since that date the treasury has
lost about Sl3,Ooo.OOO in gold which has
found its way into the banks. It is curious
TO note at this time that the national banks
of New York city alone hold more gold than
the treasury of the United States, or rather
than it contains free gold. In the figures
given gold certificates are included in the
gold. The returns in the princpa cities
snow:
New York, sS30O0OOO: Brooklyn, si5O.OO0:
Washington, ID. c.. $!OO,O0U; Baltimore Md,
I ILL
Orleans, La, si50,oo0; St. Louis. Mo- S.
100000; Kansas City, Mo-, S1,015.OOO: Bos-
ton. Mass, s920oU; Chicago, $40, 100 900;
Philadelphia, S2iOO,OO0; Louisville. Ky
S39Oo1; San Francisco, s1,336,OoO; Milwau-
kee, S900,OOO
History Repeats.
| Treasury officials who have taken the
! trouble to search the records call atten-
| ton to the fact that practically the same
| state of affairs existed in 1857, during the
tendency of the Walker tariff Revenues
declined and a number of loans and bond
| issues were made to keep up current ex-
penses and pay maturing bonds.
| The loans made We're: 1888 treasury
| notes, S23 I16,300; 1859, treasury notes
| &,661, 400; 1860, treasury notes, So 3d. 300:
| 1893, fifteen-year per cent bonds SIS
| 620,W0; 1StaI. fifteen-year ) per cent bonds
| s1,3So,000; 1860, ten-year : per cent bonds
| ST,022,on; 1850, treasury notes. $1,000 900:
| 1861, ten-twenty bonds at per cent
| SlS4loWD: 1861, treasury notes, So 364 40
There was paid on the public debt: 1858,
30; 1850 S14,6S50i3; 1861 Sl3, S54 80;
1861, SIS 7371OO.
From 1857 to 1861 the cash in the treas
ury had declined from SIS, I0l 900 in the
| former year to s. S62,0O0 in the latter year
and the public debt for the same period
| less cash in the treasury, had increased
| from S,ES.OO0 in 1857 to $50, as, 900 in 1861
| 1t was at this period that what are
| known as war loans began, reaching with
in four years national debt of s., 1856, 49,