Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-28
CARLISLE
Writes a letter to Mr..
DlnSley.
ADMINISTRATION oPro 3ED 10
THE PRESENT bond hill
IT WILL NOT PROTECT
Tho Gold Reserve on Account orits
lncfrec,uni Same
Interesting Figures
Ability OF tho Government to sell
Any Considerable Amounts Un-
der Law Seriously Questionod.

Washington, Dec 27.--Chairman Ding
ley OF the ways and means committee
has received u letter from Secretary
come Information concerning the con-
dltion OF the treasury. AIR. Dingley
viii not mako the letter public, but
saya the secretary offers TO furnish the
house with nil data that may he need
ed. The condition OF the treasury Ii
represented as very serious and MIR.
Carlisle urges legislation for a gold
bond.
MIR, Dingley has Informed the secrc-
tary that q gold bond was out OF tn
question and could not be considered.
Secretary Carlisle did not say to Mr..
Dingley that n 3 per cent bond cannot
be tloatod. and did not discuss the feat
ure OF the case. This latter denial was
made to reporters TO this effect, cone
corning the seeretary's letter,
President Cleveland aud his advisors,
II la learned, are strongly opposed 10
the house bond bill and this feeling
caused Secretary Carlisle to write TO
Chairman Dingley. Aside from the
very important objection that the
bonds are to be redeemed In coin IN
stead OF gold. us recommended by the
president. II is understood at the d.
partment that bonds to be sold by sub
scripllon meet with dlsapprovaL The
experience OF the government, II IL
said, With sales by advertisement shows
the incnectuHl character OF this means
of protection TO the gold reserve. Tho
public notice for the flrst sale was IL
sued In January, 1894. The payments
were made In February. principally.
and in that month tile Withdrawals OF
gold amounted TO about tl6OO0.000 In
excess OF the exports, which, instead OF
decreasing, reached the sum OF $4,000
600 during the succeeding six months.
The second sale was made by notice
published on Nov. 49, 1894. and the
| Withdrawals OF that month and the two
succeeding months amounted to sSi,-
100000 nearly $50 100000 in excess OF
| exports, or nearly the entire amount of
/, gold paid for the bonds. After the
syndicate contract OF Feb, s. 1885 until
the deliveries had been made during
the succeeding summer there We're no
! material Withdrawals or exports. The
records OF the first bond sale show that
the individual subscriptions amounted
to only y74bC00. while banking Arms
subscribed for Slh122, 900, and institute
lions for ssb. s2i,73O. The individual sub
scriptions 20 the second sale amounted
to only si.533.s50 those from banking
| firms to s37.Si3,50O institutions sSSy93.-
Gates bid Tor 500 1000 oo@ OF s7s.sii.i5
The ability OF the government To
float any considerable loan under the
terms Of tho pending bill IL also
brought In question. The quotation OF
United States 4 per cent bonds OF 1895
was yesterday ii6 bid This produced
TO the purchaser a return Of little over
par cent. How. then, the administrn-
l. tion asks. can the bonds In the pro-
posed law. which are limited to . per
cent. be sold at par3
The question Is also asked whether
the requirement as TO advertisement.
when taken In connection with the
f1rst section OF the bill compels the
reci e,nty 10 arccpt "coin" In payment
for these bonds. that IL. either gold or
rilyer