The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-01-18
WASHINGTON, Jan, II,


SPHE following is the text Of the
circular which Secretary Car
Isle has Just issued: by vir-
u tue Of the authority contained
in the act entitled, An act to provide
for the resumption of specie pay
ments, approved Jan. II, 1915, the
secretary Of the treasury hereby offers
for public subscription an issue Of
bonds Of the United States to the
amount of $50 900, 900, in either regis
tered or coupon form. in denomina-
tions Of $50 and upward, redeemable
in coin at the pleasure Of the govern
ment after ten years from the date of
their issue. and bearing interest, pay
able 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. office of the sec
retary. until ~ o'clock noon, Feb. l,
1894. Proposals should state the
amount of bonds desired, whether
registered or coupon, and the premium
which the subscriber proposes to pay,
the place where it is desired that the
honds shall be delivered aud the office,
whether that Of the treasurer of the
United States or an assistant treasurer
of the United States, where it will be
most convenient for the subscriber to
deposit the amount Of his subscription,
Failure to specify the above particulars
may cause the proposal to be rejected.
RESTRICTIONS AS TO BIDS.
"As soon as practicable, after Febru-
ary /, the allotment Of bonds will be
made to the highest bidders therefor,
but no proposal will be considered at
lower price than II. 923, which is the
equivalent of 8 per cent. boud at par.
and the right to reject any and all pro.
posals is hereby expressly reserved. In
case the bids entitled to allotment ex
ceed the bonds to be issued, they will
be allotted pro rata.
Notices Of the date Of delivery Of
the bonds will be sent to the subscrib-
soou as practicable, and within ten
davs from the date of such notice. sub
scriptions must be paid in United States
gold coin to the treasurer or such as
sistant treasurer of the United States
as the subscriber has designated, and
if not so paid the proposal may be re-
jected
The bonds will he dated Feb I,
1894, and when payment is made there.
for, as above, accrued interest on both
principal and premium from Feb. 1 to
date of payment, at the rate of inter est
realized to the subscriber on his in
vestment will be added. All proposals
should he addressed to the secretary of
the treasury Washington, D. c., and
should be distiuctl Y marked proposals
for subscriptions to. . per cent. honda "
SOME ACTION NECESSARY.
The action of Secretary Carlisle in
announcing bond issue was not gen.
orally known even in treasury circles
when the department closed today.
Among officials who are cognizant of
his intention, the opinion was ex-
pressed that he acted none too soon.
Treasury gold is rapidly on the de.
cline. The loss today was $S62
900, and since the first Of the month
the gold balance has declined
from $50 99l. 900 to $7j. 634 01j,
with present indications that it fall
below $40 000 900 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 reTisf. Gold may
he paid into the treasury for bonds one
day and the very next the same gold
may be withdrawn by presenting legal
tender notes or coin certificates for re-
demption.
The effect of the bond issue, how
ever. will be to give the treasury more
money whether gold or currency is i'm.
material. and ease up government
finance at least for the present.