The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-01-19
WANTED THE WHOLE LOT
Walked Into Secretary Carlisle's
0ilies and Bid for $50, ,000,-
900 in Bonds.
But 10 Is Not Likely That His
Proposition VIII Be Ac-
copied.
it Il the sserstary's Wish That There MAJ
Be Many Subscriptions for small
Amounts.

WAsiusoTos, Jan. 1s.-Now that SeeTe-
tAry Carlisle has taken action on the bond
question there is a feeling Of relief among
treasury officials. Who have been viewing
with uneasiness the invading Of the gold
reserve. Printing will be pushed rapidly.
The bonds can hardly be ready for delivery
before Feb. /. They will bear interest
from that time. Among the large crowd Of
callers on Carlisle to-day was New Yorker
who had come 20 Announoe personally that
be was willing 20 take the whole $50 000, 900
In bonds A request for his name was re-
fused. The aggregate fmount Of offers re-
ceived before the circular was issued was
$40.00O.000. All offers so far made have
come from persons and firms In New York
city. One offer TO take 100000 at 1lS has
been received.
10 Was announced to-night that Secretary
Carlisle would not make public the names
OF persons offering 20 take bonds. the
amount subscribed for. or the figures offered
for them. To make public the figures
would give late bidders an opportunity to
offer better terms than those offered by
earlier bidders.
10 Is said unofioially that the 60. .OOO 900
offer was the minimum. 1l7223. There is
said to be no likelihood Of the acceptance
of this offer. as ID is the ssoretary's desire
to make the loan a popular one, 20 which
the public generally may subscribe. On
this theory IL is Iropcs d to encourage Of
fers for small lots f'om all sections of the
country. rather than have the entire loan
taken by few dealers in large blocks.
The idea naturally includes the hope that
small denominations will be taken In pref
ersnee TO larger ones. This would require
the issue OF q great many more bonds.
Ii is believed. from orders already re-
csived. that the total offers will aggregate
nearly 500. 600. 900. and the price will reach
12O. making the bonds practically bear two
and one-half per cent. The issue for the
present will be confined TO denominations
of $50, 500 and $1,000 coupon bonds. and
$50. $780, $1,000 and $1,000 registered
bonds. In case 1t is deemed advisable ar
rangemsnts will be made for 500 coupons
and IS 900 Registered bonds
j Plates for new bonds were made by the
bureau of engraving and printing last
spring by order Of Ex-Secretary Foster, in
this administration. bat the plan for tho
issue was hnally disapproved by President
| Harrison.
The new issue Of bonds will be redeem
able In gold. Estimates made show that
the national banks OF New Yofk city alone
held mors gold than the treasury Of she
United States. In the figures given gold
certificates are included IN gold. Returns
In the principal cities show: New York
$S30000O0, Baltimore S9979.0 900. Brooklyn
$3.50. 900. Washington $500 600, Cincinnati
81 100000 New Orleans $3.50. 900, Z. Louis
e.. 400. 600, Kansas City $l,Ol5 600. Boston
80 200. 900. Chicago : 9. 700 900. Philadsi phia
! S2. 1000 Louisville $3.50, 600. san Fran
CISCO 81, 1886. 600. Milwaukee 81. 100000.
Treasury officials who have taken the
trouble TO search the records call etten tion
TO the fact that during the pendencs of the
Walker tariff of 1851 the revenues declined
and a number of loan and bond issues were
made TO keep up current expenses and pay
maturing bonds.
leading members Of the house iudiciary
committee are disposed 10 oriticise the sec
retaTy's action in view Of tue fact that the
senate has before 10 resolution designed
TO prevent tho issue of bonds. Ibis opin-
ion Is largely confined. however, to men
! . identified with the silver movemsnt. such
. well known anti-silver men as Tracey and
Raynor and Hatter heartily approve the
seeretary'H course. Holman takes decided
position against the bond issue.
'It is absolutely certain" said be. "thst
this government can Ret along without .
: | QOllhf OF increase IN tuo DOuuoo indebted
/ ness. 10 csn be done by reducing eKpendi-
lures and By additional revenue derived
from the pending tariff bill.
ia my opinion no party In time of peAee
can spccessfully urge before the people an
inc ease of national debt and bonded in
debtsdness."
Dneley. OF Maine. said; II have no
doubt the act OF 1875 gives authority so TIE
secretary 10 issue and sell bonds for the
purpose Of maintaining the gold Tsdemp-
ton fund. l doubt. however, whether the
act, properly construed. gives the secretary
power TO issue and sell bonds to pay the
current expenses OF the government 10
seems TO accomplish the lattef object 10 be
necessary to obtain additional Legislation" &"
Oakes, Of Alabama. Is opposed 20 tho
issue OF bonds. lie said: Il think the
people Of the country are generally opposed
10 an increase OF the public debt, unless
there 10 great necessity for H. and do not
believe, IN this instance, such necessity ex.
lists"
Catehings. Of fMississippi-"ThsreA appears
TO be a necessity which We cannot avoid. "
Jerry simpson An internal outrage.
= and inexousabie."
johnson. of Ohio-"Did not like the idea
: of q bond issue. but there was necessity for
p the msnsJ andT believe 10 much better 20
borrow money 10 meet temporary deficit
: than 90 hx a tax which is practically per
manent and would pile up . surplus after
the temporary strain had passed"
Chairman Wilson, OF the WAYS and means
committee. said the sale OF bonds vas
necessary and the secretary has done the
. right thing.
Bourke Cochran said; ~ WAS the only
J thing 60 do. The constantly increasing de
nolt meant the speedy insolvency OF the
treasury, and would bo followed by univef-
sal bankruptcy"
Plenty OF Purchasers.
Nuw YoRK. Jan. IS The general opinion
, OF leading nnanoiers Of this city IL favor