New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-14
GOLD EXPECTED TO COME FROM EUROPE
THE HEw BONDS LIKELY 10 RE PLACED oN 4
THREE PER Cent BASIS OVERSIZE
Ga.ILIITINNl IRlliAII.E

THE NEw BONDS LIKELY 10 RE PLACED oN 4
THREE PER Cent BASIS OVERSIZE
sCHIrTIoNs PROBABLE.
The Tribune one of tho arst papers 10 an
nounce the PROPOSED issue of Government PER
cent bonds and Iayc credit To the denials OF
the Secretary of the Treasury. Mr Carlisle made
such a mess of the bond issue last winter that
Mr Cleveland decided TO Arrange for the present
attempt to restore confidence IN the financial
policy Of the Administration without consulting
the man who makes such a spectacle OF himself
the head of the Treasury Department II was
common talk In Wall street yesterday that the Presi
dent had decided the issue some time ago and.
not wishing to have the bonds 90 begging Ike
ghc last lot had fclt tho pulse o> the Ncw-York
bankers on the subject. and I'D not decide to
make the issue until he sure that the bonds
would bc floatcd NJ Just why be arranged 10
DO this almost Immediately after the election can
only be explained bv his desire TO humbug the
country into tho belief that the returning conh-
defcc In business was due to the sound financial
policy OF the present Administration, which the
Mugwumps love TO pirate about.
1t is humiliatlng spectacle % sce the President
show 50 plainly that he has 40 confidence whatever
in the man he put AT the head ~ the country
finances. He could not have offered more pointed
insult 10 Mr. Carlisle than he did and II the in
capable head of the Treasury has an atom Of self
respect he viii certainly resign At once. But.
Judging from his former conduct. few people be-
leve that ne Will do any thing of the Kind No. ne
will probably klss the hand that struck him 50
numerically: In fact. he has done that already. by
issuing the bond circular against his own juds-
ment at the dctation OF The President
II the spectacle the august Secretary OF the
Treasury makes is not an clifying one 1t is GER
tainy an amusing one. But although Americans
like 10 be amused. these Democratic Administration
Jokes are costly affairs. ani the people Will send
up a great sigh OF relief from the Atlantic 10 the
Pacific when the cool-hcaded and experienced Re
publican statesmen ana inancers are again j" 'o"-
troll OF the Nations honor and credit
The present Issue IL continuation Of the issue
OF last winter and the bonds will mature at the
%rw- York to implore the bankers to ioat the loan
this time however. for all arransements nave Petn
made. It Is said. by syniicate to take thr whole
issue on Il 3 per cent basis These firms and trust
companes it IS rsportei On g9oa apenn arenUr C5.
Speyer S Coz Kuhn, Loeb a CO.., Brown BrotherS
a. Co the United States Trust Company and me
Union Trust Company. Large foreisa interests Wlii
probably also be represented by tne syn'iGate' & One
I snn8 bc no trouble in noating the bonds at once.
ONE ON. bid FOR the whole s5oo"coo may be put in to
William T. Curtis. Assistant Secretary Of the
ioha A. stewart. president OF the United states
Trust Company. about the PROPOSED ,ssue' No'nins
Sennns SeInnce Wr Stewart said that the Government
could borrow all the money II wantrl al per cent @
cent bon bonds rNres from Europe the bonds ana
this country FOR per cent. ., ,, - 80
Au Information as to the proposed issue was re-
fused at Drexcl Morgan & Co.'S ot'fs c.u,.,r
I,rsderick d. Tappcn, president OF the GaIIa'in
,-freI freae,I''Hn n,nk practcally confirmed the report
hat the whole issue had been subscribed for ana
Sau xnld be subscribed; The gold to pay FOR
~ honds would be provided By the banks but
he he sale would probably lover the rate OF eN-
change and bring some gold from Europe; which
,'nnid nrncticnlly make up what the banks paid
ont The bonds he thought. would probably be
ru. ,"Lar on n per cent basis. Possibly Boston.
Phi aaephia chicago and Baltimore might take
com" of he bonds AZ Chicago had taken $4,000.
Of the former bonds. perhaps she might want to
10 Th ~ as',e Of bonds last winter brought about
e. di. oo I'm gold into the Treasury. The present
i,',o ,lII hiring 10 the aid OF the Government at
ieast that amount. and. possibly. nearer tD.GOWO.
,rbc cold Treasury balance. as published yesterday
,nnrnlng was about s52.0aO0D. 80 when the issue
is taler the gold reserve VIII amount to about
Tbe news that the call had been issued did
not reach Wall Street unu aiter cIock' so IL
aid not affect the stock market
Achievements for providing their customers who
deslre 10 subscribe for the bonds with gold were
discussed by number OF bankers on Monday after,
noon al the Chase National Bank. The associated
bank, have ;32,Geo00o on deposit In the Clearing