The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-28
HOUSE BOND BILL.

President Cleveland Said IT, re Opposed
To It-Othcr Bend Issues,
Washington. December T-Chuirman
Dinglcy of the ways and means COM
mittec has received a letter from fecre-
tary Carlisle. which is private, but far
nlshcs some information concerning the
condition of the treasury. MI pnglcy
will; not make the letter public, but says
the secretary offers 10 furnish the house
with all data that may be needed. The
condition of the treasury Is represented
az very serious. and Mr.. Carlisle urges
legislation for n gold bond. Mr. Ding!ey
has Informed the secretary that "a gold
bond was out OF the question and could
not be considered. Secretary Carlisle I'D
not say to Mr.. Dingloy that Il per cent
bond can / OF be hoated and did not dis
cuss this feature of the case. This latter
denial was made because reports TO this
effect concerning the sccrctary's letter
were IN circulation.
President Cleveland and his advisers, It
is learned. are strongly opposed to the
house bond bill and this feeling caused
Secretary Carlisle to write 10 Chairman
Dingley.
Aside from the very important objection
that the bonds are TO be redeemed IN coin
instead OF gold as recominendcd by the
president II is understood that the re-
qurement that the bonds be sold by sub
scrption meets with disapproval. The cx-
pericuce OF the government. II ls said, with
sales by advertisement. shows the inef-
fectual character Of this means OF pro
| lection to the gold reserve. The public
notice for the first sale was issued IN Jan
unry, 1891. The payments were innhc n
| February. principally. and In that month
the Withdrawals OF gold amounted 10
about lG,0f0,00o In excess OF tho exports
which. instead Of decreasing, reached the
rum OF sSLvnN9 during the succeeding
| SIX months. The second sale was made
| by notice published on November ~, 1871.
ana the Withdrawals OF that month ana
the two succeeding months amounted 10
| tsl 600 600, nearly SO 10000 in excess Of
| exports or nearly the entire amount OF
| gold paid for the bonds.
After Tho syndicate contract Of February
! s. 1895. until the deliveries had been COM
plejcd during the succeeding ru'2rner.
there were no material Withdrawals Or
1 exports The records Of the hrst bono
eale show that the individual slhscrip-
/ ing firms subscribed for Sl5,7l2.GO and
! Institutions for sS5, 100 The individual
| subscriptions TO the second sale amounted
to only sl53S. $50. those from banking firms
to So sis, 800; Institutions. 1888, 100, or n
| total fexciusive of the syndicate'a bid for
sra 900, GQl Of SIS. 81 100.
The ability OF the government 10 nOat
any considerable loan under the terms Of
| the pending bill also fs brought IN qhfs-
| iicn. The quotation Of the United states
! 4 per cent bonds Of 1925 was yesterday W
/ hld. THIS produced 20 the purchaser n
return OF over per cent. How ihen, NC
/ adm Illustration asks can the hondS 10
the proposed law, which are limited TO
| por cent no Sid at par
\ The question IL also asked whether the
requirement as to advs rtslment when
| taken In connection with the iirst SEN
tsry to accept coin" in payment for these
| bcuds--that Is, either bold or SILVER.