Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-02-14

WASHINGTON, D. c., February 13.-
The House devoted the day to business
relating to tbs District of Columbia,
and with but one exception, was
feature.ess. Durlag the debate, Mr..
Van Voorhis, of New York, secured
the floor, and introduced resolution
calling upon the Committee on Ways
and Means 20 furnish to the House the
contract OF the recent bond negotiation,
and such other information as the Sec
rstary OF the Treasury had communi-
Gated to the committee
Immediately Mr.. Wi..on informed
the House that the majority report
upon the joint resolution providing for
three per cent god bonds which had
been fayorably acted upon by the com
mittee, would contain copy Of the
much desired contract.
The minority of the committee was
granted leave to file report against
the joint resolution, and have it printed
for use Of the mem 5ers tomorrow, 10
being the understanding that Mr.. VIII
son would call up the resolution 1t that
time.
The House passed a number OF Dis
trict bills and adjourned until eleven
o'clock Tomorrow.
THE RESOLUTION
Mr.. Van Voorhis's resolution was as
follows:
WHEREAS, On Friday last, the Presl-
dent entered into a private contract In
writing with certain persons to borrow
sixty-twO millions OF dollars of gold upon
per cent thirty year bonds of the
United States at rate equivalent to Al
per cent premium; and,
"WHEREAs, bonds exactly similar is
sued eighteen years ago and having
only twelve years TO run, were selling
on the New York markets on that day
ata premium OF l01l per cent, aud at that
rate these thirty year bonds are worth
1877, and,
WHEREAS, a cablsgram from Lon
don shows that English capitalists are
ready to pay premium Of ~ per cent
on said bonds, and,
WHEREAS, The Ways and Means
Committee OF this House, not compre-
neuciug the reason which actuated the
Executive in selling so many millions Of
bonds at a premium OF a. per cent
when a premium OF II per cent could
be, and much more ought TO be, OO-
tanned, on g .terday had the Secretary
OF 2 he Treasury bef,r5 it ani eX-
amIned him in relation thereto, aud OBJ
taiued copy OF said written contract
and all Information which the Secretary
OF tho Treasury could give on the sub
ject; and
WHEREAS, The information thus OBJ
taiued has not been communicated TO
.his House, and,
"WuEREAs, At this stage OF this
Congress il a matter Of such moment
Gus importance, 1t is desira BILE, aud the
right Of this House, to know what in-
formation the Ways aud Means Com
mittee has received in relation to this
loan,
"ReS0lUed That the Committee on
Waya and Means Of this House report
Immediately all the testimony, evil
dence and statements furnished TO It
by the Secretary of the Treasury 10 re-
lation to that loan, including the con-
tract made with any person or persons
concerning the same"
TIE BOND CONTRACT IS As FOLLOWS:
This agreement entered into this sth
day of February, 1895, between the
Secretary Of the Treasury OF the United
States, of the fist part, and Messrs.
August Belmont & Co., OF New York, on
behalf Of Messrs n. NJ. Rothschid &
sons, Of London, England, and them
selves and Messrs. j. p. Morgan q Co.
OF Loudon, FOR themseiv yes, parties OF
the second part. Witnesseth:
WHEREAS, 1t is provided by the re-
ylsed statutes OF the United States sec
ton 3,7OO) that the Secretary OF the
Treasury may purchase coin with any
o. the bonds or notes OF the United
States authorized by law, az suca rates
and upon such terms as he may deem
most advantageous 10 the public inter
ests; and toe Secretary OF the Treasury
now deems t1at an emergency
exists in which the public Interests
require that, as hereinafter provided,
coin shall be purchased with the bonds
OF the United States Of description
herein mentioned, authorized TO be Is
sued under tho act sutit ed IAN act 20
provide for toe resumption Of specie
payments" approved January Il, 1875,
being bonds OF the United States de-
scribed n sn act OF Congress approved
july IA, 1870, entitled IAN act 10 auth
orize the rounding Of the national
debt"
Now, therefore, the said parties OF
the second part hereby agree 70 sell and
deliver 10 the United States three mil
lion live hundred thousand ounces OF
gold coin OF the United States IT the
rate Of S17 s044l per ounce, payable 10
United states four per cent thirty year
coupon or registered bonds, said bonds
to be GATED February l, 1898, aud pay
able al the pleasure OF the United
States
AFTER THIRTY YEARS
from date issued under the acts OF Con
qrsss July If. 1870, January 20, 1871,
and January Il, 1875, bearing interest
AZ the rate Of four per cent per annum
payable quarterly.
Flrst-Such purchase and sale OF gold
coin being made on the following con-
djiions:
~. At tleast one-half OF all coins de-
lvered hsreinunder snail be obtained
In. and shipped from Europe, but the
sbippent shall not be required 10 eI-
ceed three hundred thousand ounces
Der month, unless The parties OF tue
secouo ptrt shall consent thereto.
(2t. AL deliveries shAll be made Al