The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1894-11-17
BONDS TO BE ISSUED.
Pre- sident Cleveland Wants the
Gold Reserve Increased
Fifty Million Dollars In Five Per Cents.
VIII Go to the Highest bidder
President Thinks the National
Credit Demands 1t

WASHINGTON, Nov 14-President
Cleveland has practically given in
structions 20 Secretary Carlisle 20
place $50, O0O 900 more United States
bonds on the market TO secure gold for
the TREASURY and strengthen the gov
ernment's credit. When the news was
first given out in Wall street Saturday
morning there seemed 10 be no rea-
son 10 doubt it's authenticity. The
story was confirmed Monday morn
ing. Secretary Carlisle has been
opposed 10 another bond issue. He
does not consider il necessary, at
least, for the present, 90 preserve the
governments credit. The president,
however, thinks il absolutely essential
TO add S5O. 600, 600 TO the gold supply in
the treasury and in this as on several
former occasions Secretary Carlisle
has promptly acquiesced in the presi-
dents policy. There is no personal
difference between the president and
Secretary Carlisle growing out OF this
disagreement on matters OF party poll
cy, it is said.
The Deficit Growing.
The gold reserve has been steadily
but slowing increasing since August
10. Upon that date there was but
So, 400, ISL in gold coin in the treasury.
while now there is nearly S62. 900. 900,
an increase Of s55a,e75 since October
81. At the same time the actual ex-
cess Of expenditures over receipts for
the fiscal year amounts 10 Sls.94O, 642,
and the deficit is constantly increas-
ing. During the last ten days expen-
ditures exceeded the receipts nearly
81, 600. 900.
WAsnNGroN, Nov l5.-The follow
ing circular was issued Tuesday after
noon inv iting proposals for per cent
bonds:
Treasury Department. Nov i3 % -Byvirtue
OF the authority contained In the act OF con-
gross entitled AN act TO provide for
the resumption OF specie payments APP
proved January H. 1879 the secretary
OF the treasury hereby gives public notice that
sealed proposals Will be received AZ the treas
ury department, ONCE Of the secretary. until ~
o'clock. noon, on the Path day OF November,
1894 for United States per cent bonds In
either registered or coupon form. dated Feb
ruary /. 1894 redecmnblc IN coin at the pleas
uro Of the government. after ten years from
the date or their issue, ana bearing interest
payable quarterly in coin az the rate OF
per ccntum per annum Bidders whose pro-
posals are accepted will be required 10 pay
20 per cent In gol" coin or gold certificates
upon the amount OF their bids
The amount Of bonds TO be issued is
$50, 900, 900. No set price is fixed upon.
aud IL is thought that there will
be less difficulty in floating the new
loan than was experienced in dispos-
ing OF the last issue, owing 20 more
quiet feeling in financial centers than
existed n year ago.
The president will, in his message,
IL is said, urge congress 90 authorize
the sale of bonds drawing 81 or per
per cent. on long time and in small
Such bonds would. IL
is believed, be more popular than those
which must be sold alta heavy premium
TO insure the government against pay
ing more than the current rate of in
tercSt