New-York tribune., 1895-12-29
BOND ISSUE IMMINENT.
40 MOTHER CONTRACT WITH THE SYM
DICATE LIKELY TO BE AN
NOuNCED SOON.

prPENDENTLY OF CoNGREss-HOw
LONDON FINANCIERs REGARD
THE PROPOSED LOAN.
lpY TELEGRAPH The rRrBuNEl
washington, Dec. 2s.-The increasing strength
md particuarity Of the rumors afoat regarding
.hs Administrations purpose to resort to an
,nsr bond issue to replenish the stock OF gold In
.,e Treasury have led to the general belief, both
20 and out OF Congress- that another secret con-
,ract with last winters syndicate 10 likely to be
announced at almost any moment by the Presi-
s.nt and his advisers The feeling is widespread
that negotiations with the great banking houses
vn,ch foated last years loan at a profit of
% 900 900 or more have already been practically
oompleted. and that Mr.. Cleveland. alarmed at
,he hostility shown in Congress to his costly and
aemoralizing methods OF finance, and fearing
legislative action to prevent their continuance.
"a. virtually resolved to ignore the opinions and
uishes Of the legislative branch and complete an
o.ber secret loan on a scale sufficient to make
him independent Of Congressional control or CO.
oneration for the rest Of his Presidential term.
The conviction that Mr.. Cleveland in spite Of
MS professed appeal to Congress for aid and coun-
g., and his urgent entreaties for immediate legis-
,s,ve action. has all alons been preparing to
,hwart the will Of the ,wo houses and reject the
measures Of relief which might be framed In
answer 10 his calls for assistance. has naturally
aroused feeling of irritation and resentment in
Congress-a feeling which was voiced In the COM
paint Of Mr.. Cannon and other Republican rep
r4sen;atives that in his recent message on the
financial question Mr.. Cleveland can scarcely be
credited with playing fair"
NOTICE SERVED ON CONGRESS-
The President. with full knowledge Of the
No av{<N al
eeemed a week ago to throw himself frankly and
on.nly on Congress for assistance in restoring
order 10 the National finances and he even went
70 the unusual extent Of appealing personally to
the two houses to forego the customary Christ
mae recess in order to pass emergency legislation
NJ some sort. But no sooner had the two branches
decided 10 remain in session and endeavor TO
agree on some remedial measures than the Presi-
dent and the Secretary OF the Treasury began, ap-
parently TO lay their plans to defeat the wishes
Of Congress and carry out an independent hnan-
c,ol policy OF their own. Mr. Carlisle's attack
this morning on the emergency revenue bill
passed by the House Thursday. and his criti-
c,sus Of the bond bill. while 1t was Still un-
der consideration in the popular branch can only
be interpreted from this point OF view as the be
ginning OF Administration assau;; on the
means Of relief devised by the responsible ma
houses that the Administration is ready to throw
overheard all emergency legislation II 1t cannot
get the precise terms on which 1t has for over
wear past been stubbornly insisting.
Annarently Mr. Cleveland and Mr.. Carlisle are
alarmed lest any bond bill which may pass may
contain restrictions on the authority which they
have exercised so extravagantly In recent bond
issues to make terms at their own discretion
with the syndicate bankers and they douptiess
prefer TO retain their present power TO borrow
even at excessive rates, under the conditlons OF
the Resumption act TO being hampered by ne"
and stricter legislation under which their favor-
Ste methods of charging the annual dencit In the
Treasury 10 greenback redemptions instead OF
an unsatisfactory revenue law would no longer
be practicable
WAITING FOR THE SENATE TO ACT.
When the new bond issue may be expected Is
not vet clear. The Senate will not have 1alr
opportunity to consider the two House emer-
gency bills for at least week or ten days ana IL
will certainly be gross discourtesy on the Presl-
dents part to the deliberatve branch OF Con-
rress IL executive action is taken before 1t has
actually been demonstrated that the Senate Is
unwilling to grant the relief so eagerly demanded
IN Mr. Cleveland's special message OF December
20 With a continuance Of existing conditions In
therefore to affront Congress by placing another
bond Issue while there Is still no certainty that
emergency legislation will be defeated In the
Senate Sooner or later. however Mr. Cleveland
is likely to cut loose from the two houses ana
float on his executive responsibility loan proo-
ably large enough to meet all drafts on the eoiu
reserve for the next fourteen months peyonu
which time happily. the ruinous operations OF
the present Administration are certain not 10 oe
extended. ,. -, h,,s,
The Treasury gold reserve at the close OF busi-
ness to-day stood at s63.17.997 The amour.
Withdrawn at New-York TODAY was sPovv wv So asi,a
70 be for domestic use. During the last lew DAYS
Withdrawals of gold for domestic use nave aesle-
gated more than 81 900 000 and the belle1 is enter
tained that 1t is Withdrawn to enable the no.oers
N he in a position to pay gold for United States
bonds when new issue. which is anticipated is
made 49,. M
Attorney-General Harmon was not at the De
nartment Of Justice to-day and the officials did
NOT know where he was. This gave rise TO
rumor that he had gone to NewYork In connec-
tion wi,h bond issue and 10 represent 'he ]Au ~
,ninistration in any agreement necessary 10 DC
entered into In perfecting the transaction.
LONDON WANTS A PER CENT BOND.
Iondon Dec 2S-Much interest Is displayed
IN financial circles here regarding the proposed
new American bond issue Pending the official
announcement however. Of the issue OF the
loan. the interest to be paid. and whether gold
or coin bonds will De given to secure the loan
nothing definite can be predicted as to its In
fuence on the European markets There Is oil-
ference Of opinion here as to the RECEPTION Iie :
Tondon narket would give even to new bonds
bearing per cent interest. but IL is slgnineaht
that whereas few days ago all idea OF taxing
part of the issue was secuted such acuoh 10
now discussed as a probability
"The Times" to-day repeats the report thas
the Rothschilds have declined to take any OF
the bonds at the present moment. IL auos .na.
Doubtless CAPITALISTS will be found here ready