The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1895-02-16
NEW BOND ISSUE.
Special Message from the Presi-
dent on the Subject.
Congress Informed of the Latest Move 1"
lseplenisb the Gold Reserve Another
Issns of bonds Negotiated
Amannt. 6a.4OO.OOO.

More Bonds.
WAsHINGTON. Feb. v.-Ihe president
yesterday sent the following me essage to
ufter q final brief conference
with Attorney-General Olney and Sec
retary Carlisle:
To the Congress OF the United States:
Since my recent communication 10 congress.
calling your attention to our financial condi-
tion, and sugge sting legislation which deemed
essential to our nattoaal welfare and credit.
the anxiety and apprehension theu existing In
business circles have continued.
AZ . precaution. therefore. ssaipst the fail
ure OF timely legislative ana thorough congress
st0nai action. cautious preparations havs been
pending to employ to the best possible sdSAI-
tage. In default OF better means. such execu-
tive authority - may. without additional le5is-
latiop. be exercised for the purpose OF REIN
forcing and maintaining In our treasury "a
adequate and safe gold reserve
In the Judgment Of those sspecisily charged
with this responsibility. the business situation
Is so critical and the Legislative situAtion 30
uupromistny with the omission rhns tar on
the part OF congress To beasncisllS,e ,eaiArge the
posers OF the secretary OF the treasury In the
premises. ~ to enjoin immediate executive az
tion with the facilities nov on HANG.
Therefore. in pursuance OF section siyo of the
Revised Statutes. the details Of - arrange
ment have this dsy been concluded vita par
ties sbandAatly able TO fuliih their undertAk-
ing whereby bonds OF the unifexHtates. gu
thorized under the ses OF July u. tsss. paysb.s
In coin thirty years after Date. vita interest at
the rate 0f per cent per annum to the amount
for the purchase Of gold e0ia amounting to =
sum slightly in exsess Of t3'.eO.0o. 10
he delivered to rhe treasury Of the Coited
States. which sun. added to the gold now held
In our reserve. viii 90 restore such reserve as
to make Il amount 70 something moro than
Gatah fe IN lsna llnu uAd In
the government upon the bonds as Ia az the
sase OF intcress upon the amount OF gold real
ized at the rate Of * per cent. pes snaum Al
leass one-han Of the gold to be obtained Il 70
be supplied from abroad. which. Is rery
important and favorable feature OF the trans
action.
The privilege Il especially reserved to the
government TO substitute ut p1rswithin ten
days from this date In lieu Of the per cent.
coin bonds other bonds in terms payable In
gold and besring only per cent interest. II
the issue Of the same should IN the meantime
be authorized by congress.
The arrangement thus completed. which.
after careful inquiry. appears from present
circumstance and considering sll the objects
desired. to be best xttA.Rsbts. develops such
tween bouds made payable In coin and those
specifically payable IN gol1 In favor OF the lat
ter ss Is represented by three-so0rths OF
cent In annual Interest. IN the agreement just
concluded the annual saving iu interest to the
governmsat u . per cent gold bonds shall be
substituted by per cent coin bonds under the
privilege reserved, would be e5j9, iie. anount-
ing In thirty years. or a. the maturity OF the
coin bonds. 10 of0, ,i5S,ss0.
OF course there never should bs . doubs ia
any quarter e. TO the redemption IA gold OF the
bonds Of the government which are made pay
able In coin. Therefore the discrimination In
the Judgment Of investors between our bond
obligations payable In coin and those specth-