The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1895-02-20
ISSUANCE OF BONDS.
Secretary Carlisle Replies to a Senar
Resolution of Inquiry.

Secretary Carlisle Replies to q Senate
Resolution of Inquiry.
WAsHINGToN, Feb. 19.-Secretary Car
Isle to-day sent reply to the Senate
resolution inquiring whether sit is nee
essary or desirable that legislation should
be had authorizing the issuing of bonds,
treasury notes or other securities to
realize moneys for the purpose of paying
current deficiencies in the revenue"
The Secretary says he does not con-
slder such authority now necessary. His
| com mmunication is as follows:
The cash balance in the treasury at
! the close of business on the 18th inst,
exclusive of 500, I0l, ,704 gold reserve, was
! S99, ,S15,2S4. 1t is my opinion that the
Secretary OF the Treasury ought to be
! permanently invested with the authority
| to issue ana sell short-time bonds or
| other obligations OF the Government for
! the purpose of raising money to meet
| such deficiency in the ordinary revenues
as may occur from time to time, but do
not think there is any necessity at the
| present time for the exersise of such au-
! thority, If it existed. Ii is not probable
that such deficiency will occur during
the remainder of the current fiscal year
as Will exceed the available balance on
hand, and it is estimated that during the
| next fiscal year the receipts will exceed
the expenditures
This letter is accepted in the Senate as
having direct bearing upon the sundry
civil bill proposed by the Senate Com
mitIee on Appropriations, providing for
an issue OF certificates of Indebtedness
| Many Senators who have given their as
sent to the amendments have stated from
the beginning that they would agree to
the proposition only upon the direct re-
quest OF the Secretary for such action.
This has been especially true OF the silver
Senators.
BELMONT-MORGAN LOAN SYNDICATE
NEW YORK, Feb. 19.-The managers of
the BelmOnt-M organ Government loan
syndicate issued their prospectus for the
American half of the new four per cent
bonds late this afternoon. The bonds are
issued for public subscription, and they
can be paid for in currency or gold. The
managers of the syndicate, it was said to-
day, Will undoubtedly sell the bonds on
terms which they consider will be most
advantageous 10 the object the syndicate
has 10 view, viz: The building up and
maintaining the Governments gold re-
serve. They may sell the bonds to one
bidder or to several, they may sell them
for gold or for currency, or to whichever
bidder or bidders whose bid or bids NAV
be considered most advantageous TO the
syndicate. The circular Is as follows:
sale the above described So, ,3I5, 900 United
States per cent. bonds, bearing interest
| from February l, 1895, and maturing
February l, 1873. The price is 1l2t per
cent, of which l2I per cent. will be pay
able on all the amount, and the remain
ing 100 per cent on or before March lst
or upon delivery of the bonds as pro-
vided below, with interest at per cent
per annum from March LIST. The bonds
will be delivered as soon as they are pre-
pared and executed by the Treasury De-
partment. Purchasers desiring to COM
piete their payments before delivery of
the bonds will be given negotiable scrip.
The subscription will be opened at 10
a. NJ. on February Goth and will be closed
without notice. Bids will be received Dy
either Of the undersigned, and payments
must be made to NJ essrs. J. z. Morgan IL
Co., in cash or by certified check OH New
York banks. The right is reserved by
lis TO reject any applications to all OF the
smaller amounts than applied tor, and to
appOrtion allotments between American
and European applicants in any way we
may deem best. At least one-haIf OF the
bonds will be allotted in London on such
terms and conditions as may be provided
Tor IN the London circular. Our alIot-
ments VIII be made within four days
from date, by notice mailed to applicants.
-. PIERPoNT MORGAN Il Co.,
AUGUST BELMONT u Coz