Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1895-11-12
HOW CARLISLE SOLD OUT.
Full Text Of His Contract With the
Bankers.

/
Bankers.
We print below the exact contrac
for the last sale OF bonds. It is Al
extremely interesting document, an
should be carefully read by everybody
1t shows the relation existing between
the treasury department. and Londol
tinanciers. The goldbug press hav,
carefully avoided its publication. /
IS we'll known that some parties clean
ed up, out of this contract, a profit o
just about ten million dollars in gold
on that Sth day, or nie hit, OF February
The market price of bonds at the time
shows this: The amount of PEI
cent. bonds is $62,315, 435, 90. Had
congress put its foot in the mess, as
invited 10 by the terms of contract
the syndicate would have been con
tent with $65, JIG, 90 in 3 per cen
bonds in pay for their three and-a
half million ounces of gold. Long
time bonds are most valuable and
these bonds are to rnn thirty years.
The publication of this documel [
will relieve the public mind of much
doubt, while it must arouse the indig-
nation of every true-hearted American.
1t 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 first part, and
| Messrs. August Belmont & Co. of New
York, on behalf of Messrs. N. M. Roth
child & Sons of London, Eng, and
themselves, and Messrs. j. P. Morgan
& Co. of New York, on behalf of
Messrs. j. S. Morgan g. Co. of London,
Eng, and themselves, parties OF the
second part.
Witnesseth: Whereas, 1t is provi-
ded by the revised statutes of the
United Ltates (section 37OO) that the
secretary of the treasury may purchase
coin with any of the bonds or notes of
the United States authorized by law,
at such rates and upon such terms as
he may deem most advantageous to
the public interests; and the secretary
OF the treasury now deems that an
emergency exists in which the public
interests require that, as hereafter
provided, coin shall be purchased with
the bonds of the United Strtes of the
description hereinafter mentioned,
authorized to be issued under the act
entitled Gan act to provide for the
resumption of specie payments" APP
proved Jan, II, 1875, being bonds of
the United States described in an act
of congress, approved July II, 1870,
entitled '.An act to authorize the re-
funding of the national debt;" now,
therefore, do the said parties of the
second part hereby agree to sell and
deliver to the United States $500, 900
ounces of standard gold coin of the
United States, at the rate of Sl7, SO4.-
II per ounce, payable in United States
4 per cent thirty-year coupon or reg
istered bonds, said bonds to be dated
February l., 1895. and payable at the
pleasure of the United States after
thirty years from date, issued under
the act of Congress of July II, 1870,
Jan. 20, 1871, and Jan. IA, 1875, bear
ing interest at the rate of 4 per cent
per annum, payable quarterly.
First-Such purchase and sale of
gold coin being made on the following
l. AT least one-half Of all coin de-
llvered hereinunder shall be obtained
In and shipped from Europe, but the |
shipments shall not be required to ex-
coed 3oO,OOO ounces per month, unless
the parties of the second part shall
consent thereto.
2. All deliveries shall be made at
any of the sub-treasuries, or at any
other legal depository of the United |
States.
8. All gold coins delivered shall be
received on the basis VI 25 $40 grains
OF standard gold per dollar, if within
the limit OF tolerance.
4. Bonds delivered under this con.
tract are to be delivered free of ac-
crued interest, which is to be assumed
and paid by the parties of the second
part at the time of their delivery TO
them.
Sccond-Should the Secretary of the
Treasury d esire % offer or sell any
bonds OF he United States on or be-
fore Oct. l, 1895, he shall first offer
the same to the parties of the second
part; but thereafter he shall be free
from every such obligation to the
parties of the second part.
Ihird-The Secretary of the Treas
ury hereby reserves the right, within
ten days from the date hereof, in case
he shall receive authority from con-
gress therefor, to substitute any bonds
of the United States bearing 3 per cent
interest, of which the principal and
interest shall be specifically payable
in United States gold coin of the pres
ent weight and fineness for the bonds
herein alluded to; such per cent
bonds to be accepted by the parties of
the second part at par, i. e., at $751;
GO465 per ounce of standard gold.
Fourth-No bonds snail be deliver
id to the parties of the second part.
Or either OF them, except in payment
for coin from time to time received
hereunder; whereupon the secretary
OF the treasury of the United States
shall and will deliver the bonds as
herein provided. at such place as shall
be designated by the parties of the
second part. Any expense of delivery
out OF the United States shall be as
sumed and paid by the parties of the
second part.
Fifth-1n consideration of the pur-
chase OF such coin, the parties of the
second part and their associates here
lnder assume and will bear all the ex-
oense and inevitable loss of bringing
gold from Europe hereunder; and, as
ar as lies in their power, will exert