The Caucasian. (Clinton, N.C.) 188?-1913, 1895-02-14
ANOTHER MESSAGE.
Win - Pat Pr"positio to >or,,nst. soid
IN the Bo"d Ca" Sell H"na. for Cain. -
Bui Briti-h Director, " .ui .' Gold

IN the Bo"d Ca" Sell N.nd. for "in--
Bur British Director. Wat ..3oid."'
WAsHINGTn>. Feb. --Th. Pr.>i-
-rtent to-day sent the following me-
sage 10 Congress al the nif.d STATES
Since my recent communication &"
The Congress calling attention To our
financial condition and >ugg-stin.
legislation which ! deemed essential
anxiety and apprehension then exist
ing in business circles have continued
As u precaution therefore. against
[ he failure of timely Legislative. aid
through Congressional action. eau
tons preparations have been pending la
employ L. the best possible advantage
IN DEFAULT oF BETTER MEANS.
| such executive authority a. NAV, with
| out additional legislation, he exercised
for TN" purpose of reinforcing and
| maintaining In our treasury an AIDE
| quate and safe gold reserve
In the Judgment Of those especially
charged with this responsibility. the
| business situation il 80 critical and ia.
| Legislative situation Is so unpromi>ing
with the omission thus far on ia. part
of the Congress Ia beneiicially enlarge
the powers of the Secretary of ia.
| Treasury in the premises. a. Ia EN- join
immediate executive action with the
facilities now at hand.
Therefore, in pursuance of section
1909 of the Revised Statutes, the
| DETAILS OF AN ARRANGEMENT
| ha "a this Iau haun I..I &, 4,
ties abundantly able to fulfill their un-
dertaking, whereby bonds of the nj
ted States. aut horiZed under the act al
July ii. 1875, payable i'm coin. thirty
years after date. with interest at IN.
rate of four per cent per annum. to the
amount of little less than sixty-lwo
millions and four hundred thousand
dollars are to be ISSUED for
| THE PURCHASE OF GOLD COIN
amounting to a sum slightly in exces.
of SEA, 0OO,OND, to be delivered to tn.
treasury of the United States. which
sum added to the gold now held in our
reserve will so restore such reserve a.
to make it amount to something more
than one hundred millions of dollars
Such premium is to be allowed to In,
government upon the bonds as to fl
the rate of interest upon the amount
of gold realized at three and three,
fOurths per cent. per annum. At least
one-half of the gold To be obtained
is TO RE SUPPLIED FROM ABROAD,
which is a very important and favor.
able feature of the transaction.
The privilege is especially reserve,
to the government to substitute al par
within ten days from this date, in lie,
of the four per cent. coin bonds, Ot bel
bonds in terms payable in gold" an,
) bearing only three per cent. intcres
if the issue of the same should in tn.
meantime he
AUTHORIZED BY THE CONGRESS-
The arrangement thus completed
which after careful inquiry appears il
present circumstances and considerin:
all the objects desired, to be the hes
at talnable, develops such "A difier-nc,
in the estimation of investors between
bonds made payable in coin aud thos,
specifically
MADE PAYABLE IN GOLD
in favor of the latter, As is reprssente,
by three-fOurths of IA cent in annual in
tereSt. the agreement just conclud
: ed the annual saving in interest to tn
government If three per cent, gol,
bonds should be substituted for 1 De
. cent. coin bonds, under the privilege
reserved, wOdld be five hundred an,
thirty-nine thousand, one hundred an,
fifty-nine dollars amounting i'm thirt
years or at the maturity Of the col
bonds, to sixteen million. one hundre,
and seventy-four thousand seven hun
, dred and seventy dollars
or course there meyer shnuId 4.
doubt in any quarter "a to the
REDEMPTION IN GOLD
of the bonds of the government whicI
are made payable in coin. Therefor
the discrimination, i'm the Judgment {,
investors. between our bond obliga
tions payable in coin, and those spe
cifically made payable in gold. is YER
significant. 1t is hardly necessary I
suggest that whatever may he gu
, views on the subject. the sentiments o
, preferences of those with whom W
!, must negotiate in disposing Of GU
bonds for gold are
| NOT sUBSECT TO OUR DICTATIoN.
: | have only to add that. in my opin
ion. the transaction herein detailed fo
, the Information of the Congress-, prom
isCS OCttCt ItSuitS lndH effort
previously made i'm the direction q
effectively adding to our gold resery
, through the sale of bonds: and be
lieve it will tend as far as such &C
ton can in present circumstance
, to meet the determination ex
pressed in the law repeating tn
silver purchasing clause Of the act q
July IA, 1880, and that In the languag
: OF such repeating act the arrangemen
made will aid our efforts to Insure tn
maintenance of the parity in value q
the coins of the two metals and tn
equal power Of every dollar at all time
$ In the markets aud in the payment G
+ debts.
1 GROVER CLEVELAND
Executive Mansion, Feb. &, 1895.
: STRUCK BY A SLEIGH.