The herald., 1896-01-07

Generally expected. There was some dis
a isfaction expressed because the
president had not seen fit to wait I'M
III the senate acted on the house
revenue bill. although there is no eXpecta-
ton that the bond bill will pass the seEaie.
kmong the Democratic enemies of bon Is
talk was heard of a resolution declari "
tne sentiment of the house to be against
heir issue. but this was considered imDrac-
ticable as well AS exceedingly unlikely to
lass. Mr.. Cannon, chairman of the APP
prgp-iations committee, said of the cal:
"As | understand 1t. the proposed syndi-
cate arrangements subst intially looked
oward placing the bonds in the Uni ed
States. If these bonds we're now re tdy foe
delivery and the country understood mat
they could be had for | 10 to II, which is
below the market price for similar bonds,
| have no doubt the banks would take
them 20 increase their circulation. using
he gold i'll their vaults to make payments.
[ hope they will do so, as the bonds run for
thirty years and can no doubt be bought OH
a 3 per cent Oa sis, and would Weld a small
profit to the banks for circulation on that
basis"
Mr.. Dingley. chairman of the ways and
means commit ee, declined TO be quoted.
The general opinion of the kepubl cans
seems to be, however, an approval OF the
determination of the president to issue
bonds to the people, but regret was eX-
pressed hat an invitation was not exfend-
ed to the public to take the bonds at once.
A general fear was expressed that the de-
lay of a month before he result OF the
offer could be asceftained might nave
depressing effect on Business and might
iuperii the gold reserve 100 .uuch.
MIR. Patterson (Democrat. Isnnessee):
II heartily approve OF the circular. thlnk
it will be popular and successful. l am
glad The clause is inserted that gives the
public an opportunit, under The provisions
of the house bill. in case it passes the SEN
ate. The deterninali )a TO let the lie
bid for the loan places the administration
in the best possible attitude"
BANKS WILL BID
New York, Jan. 6.-Ihe World tomor-
row will say:
In response to an inquiry sent out Sun
day night by the World. the National banks
of the smaller cities and towns of the coun-
try within ten hours yesterday pledged
thern-elve to take over 81 100000 of
government bonds upon per cent basis.
These were the hard and fast offers speci-
flying The amounts to be taken. In addl-
ton hundreds of banks declared their
Willingness, and indeed eagerness, to
subscribe, but for various reasons
were unable to name any par ocular
amount. Ii cannot be doubted that these
banks represent at least another Slo.OOO,-
900. All these answers were in reply to a
query as what the banks would invest in
bonds on 3 per cent basis. This means
prac cally the payment of about li6 OF
about Is for he bonds proposed in Secre-
taIy Carlisle's call.
number of Baltimore financial institu-
tions will respond to the call of Secretary
Carlisle for bids for gold loan. 1t is eX-
pected that bids aggregating $l.5O0.ooO
will be offered from this city. These bids
will come chiefly from national banks
which propose to use the bonds as a basis
of Increased circulation and from
other Institutions representing investors.
Presiden. Gill of the Mercantile rust
company exp 'essed himself a strong be-
lever in such loans. Ills company is ar
ranging for a subscription TO 1t OF $780, 900.
President Ramsey of the National Ex-
change bank, said he expected to see the
loan "a success and that his bank would
want 100000 of the bonds.
OPINIONS OF FOREIGN CAPITAL.
New YORK, Jan. 6.-Tne World tomor-
row will publish the following cablegrams:
LONDON, Jan. 6.-To the World, New
YORK: Iu answer to your telegram OF the
4th we beg to say that under ordinary cir
cumstances we would never venture TO
offer an opinion Oh any financial question
which is under discussion by foreign gov
ernrnents or legislatures, bu we are al
ways ready to give our advice on any prac-
tical issue when called upon to do SO by
those who have power to act. Last
| year when there was a financial crisis in
| the United States we made an offer for 8
| per cent gold loan, and failing congress re.
! fusing to give the treasury power TO enable
such an issue to be made) we undertook,
| with others, TO place certain amount of
4 per cent coin bonds. AS you have done
us the honor of asking our opinion, we
! must tell you frankly that in our judgment
| financial a I ic
! chiefly caused by the political crisis
| and as soon as the American and Eng
I lish governments have satisfactorily settled
! the questions at issue, the financial s'rain
will be considerably relaxed, if it does not
| altogether disappear. Tn il this boundary
| question is settled, we don't believe Euro
| pean capitalists W ii take many American
bonds for investment, and we believe that
though a number of people on this side of
the Atlantic have signified their intention
! of taking a share in a syndicate TO be
formed in New York, they have only done
go in the belief that at the present moment
| they would obtain terms which would en-
able them at once to resell the bombs in
| America. When the political horizon is
quite clear and it is finally estab-
listed in the minds of all men that the
good feeling and understanding which ex-
lists in the hearts of the people OF England
and America is be, ond doubt ana is rati-
fled by the two governments Will be the
the lime for America 10 apply TO British
capitalists. We offer no suggestions how
This is 10 be accomplished. 1t is for the
governments to decide be ween themselves
All we can say is that he good feeling ex-
lists among our people on this side and you
sir, have proved by your patriotic efforts
that it exists on your side of the Atlantic.
(Signed) IN NJ. ROTHSCHILDs & SoN.n
BERLIN, Jan. 6.-Nl having taken part
in the negotiations for a new loan, we
think it inopportune to give an opinion on
the subject. (Signed)
S BLEIGRoBER & Co., Bankers.
LONDON, Jan. 6.-In my official capacity
| cannot express any opinion. (Signed)
GOVERNOR BANK OF ENGLAND.
LONDON, Jan. 6.-Cannot express opin
ion as to continental investors. Doubt il
sufficiently attractive here in form sug
gested.
(Signed) CoUTTS, Bankers.
LONDON, Jan. Gin our opinion the sue
cess or otherwise of the issue of American
bonds in England would depend on the
feeling existing be ween the TWO countries
at the time of the issue.
(Signedj CBILDS & Co.
PARIS, Jan. 6.-Relieve European in
vestors would readily take United State.
threes. principal and interest payable il
gold, but coin or currency bonds, even fou