Great Falls weekly tribune. [volume] (Great Falls, Mont.) 1894-1???, 1895-02-15
GOLD BONDS
Kim Wants Bonds Payable in
Gold Coin Bearing Interest
ut B Per Cent.
DEMOCRATS KICK

Fails to See Carlisle's Promised
con fplns-W Wilson Would Empower
masssAjaMM Carlisle 10 Pay in Gold.
r pro- aaaS%@4 -
all p GMM , ~
II HINGroN, Fob. 0.--The ways and
had III committee took up the presidents
RI, nd m bond message at the end of the
bo ;lcraaxHX2Sssion today. SO much difference of
md ,opluinn made itself manifest immediately
rtv i.thattAe business was postponed until 8
ned, O'clock Monday. Bynum, democrat of
h. .India6n, proposed a resolution to amend
,oI;the NJ of 1878, so as to make it authorize
.l,. the t3<Ene OF bonds bearing interest at Il
~ o.ratSS&ot to exceed 3 per cent and payable
/ e,.ins Eold coin. Chairman Wilson pro-
posed . resolution to apply to the con-
;fo .~templated issue and empower the secre-
NJ ~. tarY Of the treasury to make them pay
ri able In gold coin. Reed said: II do not
f,o, believe in borrowing gold by bonds pay
|, 9, able after thirty years while, ling
~, Ito tho eecretary of the treasury, we are
ND to have a surplus in the treasury soon"
idadILt $3.50 ue'eiope" 'ndt ho' OILY
wv the rapubllcans, but Bryan, Whitney,
+" Wheeler and Mcmillan, democrats, are
ne opposed to the plan for bonds payable
by stipulation in gold.
be Bill =
EF The Message.
The following is the full! text of the
message considered:
J.; Since my recent communication to
~ congress calling attention to our tinan-
rle, cial condition and suggesting legislation
of (which Ideem essential to our national
,Jolwelfate and credit, the anxiety and APP
- .prehension then existing in business Cir
~ plcles have continued. AS a precaution,
y udaheref0re, against the failure of timely
|. Legislative action cautious preparations
! a shave been pending to EN- p!oy, to the best
possible advantage, in default Of better
'o".'meane, such executive authority as may,
a frawithout. additional legislation, be- exer-
cised for the purpose of reinforcing and
maintaining In our treasury an adequate
and safe gold reserve in the judgment of
-Ttthose especially charged with this re-
sponsibllity.
sehgs The Business situation is so critical
Feckeand the legislative situation SO unprom-
bachasing, with the omission thus far on the
h part Of congress to briefly enlarge the
=, powers OF the secretary of the treasuryin
Mafthe premises. as to enjoin immediate ex-
badecutive action with the facilities now
or scat hand. Therefore, in pursuance of
section 300, revised statutes, details of
/ an arrangement this day have been
able g fulfil their WITHDRAWING,
B Wewhereby bonds of the United States,
nd authorized under the act of July
IA, 1875, payable in coin thirty
~ years after their date, with interest at
KS crthe rate of four per cent per annum to
kd than amount a little less than s6?,4OO,oOO,
les W are to BE- issued for the purchase of gold
:oin, amounting to a sum slightly in
sno'', EXCESS Of $65, 100000, to be delivered at
RS aH;he treasury of the United States, which
'eserve, will SO restore such reserve as to
make 1t amount to something more than
! +ro;)ne hundred million dollars. Such pre-
MUM ie to be allowed to the government
stanD lpon the bonds as to fix the rate of
rougnterest upon the amount of gold realized
70 er.t 81 per cent per annuul
,,u At least half of the gold to be obtained
nu~s to be aupplied from abroad, which is
"ell very important and favorable feature
t the transaction. The privilege is es-
'ecially reserved to the government to
ubstitute at par. within 10 days from
nt mahis date, in lieu of 4 per cent coin bonds.
tion ether bonds in terms payable in gold and
AIDE fearing only 3 per cent interest if the
~ ssue OF the same in the meantime be
III "uthorlzed by congress.
Brlga The arrangements thus completed.
7hich, after careful inquiry appear in
he present circumstances, and consider
-ag all objects desired. the best attain
BILE, develops such difference, in the
AAystimation of interest between bonds
tSG;;Slade payable in coin and those speciti-
NVNySally pAyable ia gold. in favor of rne