Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-12-28

Washington, d. c., December IL
Chairman D.ngley, of the Ways and
Means Committee, has received a letter
from Secretary Carlisle which is pri-
vate but furnishes some information
concerning the condition Of the treas
ury. Mr.. Dingley will net make the
,etter public but says the Secretary
offers to furnish the House with all data
that may be needed. The condition Of
the treasury is repres ssnted as very seri-
Gus. and Mr.. Carlisle urges legislation
for a gold bond. Mr.. Dingley has in
formed the Secretary that gold bond
was out of the question and could not
be considered. Secretary Carlisle did
not say to Mr.. Dingley that per cent.
bond cannot be floated and did not dis
cuss this. feature of the case. THIS lat
ter denial was made because reports to
this effect concerning the Secretary's
letter were in circulation.
President Cleveland and his advisers,
It is learned are strongly opposed to the
House bond bin, and this feeling caused
Secretary Carlisle to write TO Chairman
Dingley.
Aside from the very important OBJ
lection that the bonds are to be redeem
ed N coin instead of gold as recon-
mended by the President, it IS UNDER
stood that the requirements that the
bonds be sold by subscription meets
with d.sapprOval. The experience Of
the government, it IS said, with
SALES BY ADVERTISEMENT.
show the Intellectual character of this
means of protection to the old reserve.
The public notice for the first sale was
issued in January, 1894. The payments
were made in February principally, and
in that month the Withdrawals of gold
amounted to about $16,OOO,OOO in ex-
cess of the exports, which, instead OF
decreasing. reached the sum Of $780,
900 during the succeeding six months.
The second sale was made by notice
published on November 13, 1894, and
the Withdrawals of that month and the
two succeeding months amounted to
SS4. 600. 600, nearly $5O,000,00O in excess
of exports. or nearly the entire amount
of gold paid for the bonds. After the
syndicate contract of February 8, 1895,
until the deliveries had been completed
during the succeeding summer there
was no material Withdrawals or ex-
ports. The records of the first bond
sale show that the individual subscrip-
tions amounted to only $7i5,OO0, while
banking firms subscribed for $l5,722,-
600 and institutions for $35, 5,S24,75O.
The individual subscriptions to tho
second sale amounted to only 1888 $50;
those from banking firms to $3ISlS,5O0;
institutions 3S,993sOO, or a total lex
elusive of the syndicates bid for $780,
600, ,OOO of $7S,3H,15O.
The ability of the government to
float any considerable loan under the
terms Of the pending bill also is
brought in question. The question Of
the United States per cent bonds Of
1925 was yesterday 116 bid. This pro-
duced to the purchaser a return Of over
3 per cent. How, then. the admlns-
tration asks, can bonds in the pro-
posed law which are limited to per
cent. be sold at par?
The question is also asked whether
the requirements as to the advertise
ments, when taken in connection with
the first sentences Of the section, COM
pei the Secretary to accept coin in
payment for these bonds, that is either
gold or silver.