The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-12-28
pINaLlY RECEIYEs A LErrER

From Secretary Carlisle Asking FOR Gold
Bonds The sGoyernmsGps EIpsrlsnee,
WASHINGTON. DeS T.-chairman
Dingley. OF the ways and means COM
mlttee. has received a letter from secre-
tray Carlisle which is private. but fur
nlshes some information concerning the
condition OF the treasury, Mr., Dingley
will not make the letter public, but says
the secretary offers to furnish the house
with all data that may be needed. The
condition OF the treasury is represented
as very serious and Mr.. Carlisle urges
legislation for n gold bond. Mr.. Ding
ley has informed the secretary that
gold bond was out OF the question and
could not be considered, Secretary
Carlisle did not say TO Mr., Dlngley that
per cent bond cannot be fioatsd, and
did not discuss this feature OF the case.
This latter denial was made because re-
ports 10 this effect concerning the secre-
tary's letter were In circulation.
President Cleveland and his advisers,
II In learned, are strongly opposed to tho
house bond bill, and this feeling caused
Secretary Carlisle to write to chairman
Dlngley.
Aside from the very important objec-
tion that the bonds are 20 be redeemed
in coin instead OF gold, as recommended
by the President, It is understood that
the requirements that the bonds be sold
by subscription meets with dlsapprovaL
The experience OF the government. II iB
said, with sales by advertisement show
the Intellectual character OF this means
OF protection to the gold reserve. The
public notice for the first sale was Is
sued in January. 1894. The payments
were made III February principally, and
in that month the Withdrawals OF gold
amounted to $4,000. 900 In excess Of the
exports, which instead OF decreasing,
reached the sum OF tS4.0O0,000 during the
succeeding six months. The second
sale was made by notice published on
November l3 1894. and the Withdrawals
OF that month and the two succeeding
months amounted to Ss4,0O0,OO0, nearly
$4,000 900 in excess Of exports, or nearly
the entire amount OF the gold paid for
bonds. After the syndicate contract OF
February s. 1895, until the deliveries had
been completed during the succeeding
summer, there were no material with
drawRls or exports. The records Of the
first bond sale show that the individual
subscriptions amounted to only sIib,t 400,
while banking firms subscribed for Slb,-
722, 900 and institutions for S36. .S2i,750
The Individual subscriptions TO the
second sale amounted to only Sl,633,sb0;
those from banking firms TO $SI, ,S1s,500,
institutions 32s, $685. 800 or a total (exclu-
slve OF the syndicates bid for 100000
0O0) OF S7S.5ii.1 100.
The ability OF the government 10 float
any considerable loan under the ternsof
the pending bill also Is brought In queH-
tion. The quotations OF the United
States per cent bonds OF 1926 was yes
terday i1G bid. This produced TO the
purchaser n return Of over 3 per cent.
How. then, the administration asks, can
the bonds in the proposed law which
are limited 20 3 per cent, be sold at par?
The question is also asked whether
the requirement us to advertisement,
when taken In connection with tho tirat
sentences OF the section. compel the Sec
retary 20 accept "Coin" in payment for
these bonds. that Is neither gold or sil-
yer,