The Sussex Republican., 1896-01-11
SYNDICATE DEFEATED.
oARLIsLEs MIDNIoHr BOND GALL.


| Secretary Carlisle issued circular t,
1 the public at III 55 O'Clock on Monda,
uight last, inviting sealed propossll
for Sl00, 100000 of four per cent, c0u
pom or registered bDnds-bids to be re
eeived until February s. The bond:
are Offered IN denominations of lift,
dollars and multiples of that sum. as
may be desired BY bidders
ihe bonds will be dated on the first
day Of February, 1886, and be payab {
IN coin thirty years after that date
and VIII bear interest at four per cent
per annpn, payable quarterly, in
Icoin, but all coupons maturing on and
before the,lirst day of February, 1886,
will be detached, and purchasers will
be required to pay in United states
gold coin, or gold certificates for the
bonds awarded to them, aud all inter
est accrued thereon after the first day
of February, 1896, up to the time Of
application for delivery.
Payments for the bonds must b.
made at the Treasury OF the United
States at Washington, ID, O., or at the
United States Sub Treasures at New
York, Boston, Philadelphia, BaIti
more, Cincinnati, Chicago. St Lonis
for New Orleans, OF they may be made
at San Francisco with exchange on
New York, aud all bids must state
what denominations of bonds are de
sired, and whether coupon or registered,
and at what place they will be paid
for.
Payment may be made by Install
ments as follows;
Twenty per cent. upon receipt of no.
tice of acceptance OF bids, aud twenty
per cent. at the end of each ten days
cheleafeer; but all accepted bidders
may pay the whole amount at the date
Of the first installmeuL and those who
have paid all installments previously
maturing may pay the whole amount
on their bids at any time, not later
than the maturity of the last Install
ment
The bonds Will be ready for delivery
on or before the fifteenth day of FeD-
ruary, 1896
President Cleveland and Secretary
Carlisle have acted wisely IN Offering
this bond issue directly 10 the people
instead of depending upon the Nor
gan Belmont syndicate. The people,
and not a certain clique Of bankers,
are to be favored There is no doubt
5f the loan being readily taken mp byl
the people throughout the country.
This popular loan. the result of a
popular demand, which leaves the |
bond syndicate In the lurch, has been
Issued in spite of the Administrations (
declarations that nothing of |
the kind was contemplated. Cleye-
land saw the drift Of things and was
forced to yield to popular demand.
United States Senator Elkius, of
West Virginia, who thinks he forced
lhe President TO make popular loan
by his Senate resolution declaring
against syndicate contracts, and the
discussion which 1t provoked on Fri
lay OF last week, was the happiest
nan in Washington Tuesday morning,
not only because it signalized the first
of his Senatorial life, but be-
,ause he believes the bond call will
meet with a popular response, thus
the Donus from falling into
he hands OF the New York Syndicate.
Teller, Hoar and the other Republican
who supported Elklns, take
he same view.
The Administration. view of the
natter, rs represented by Its friends IN
is that Secretary Carlisle
ad only done what the President had
lways Intended to have done; that
he latter was dissatisfied with the
ard terms Of last years syndicate
and keenly felt the criticism
rawn upon him, aud desired to try
nee more the experiment OF popular
ran.
There Is chance now for every
mall or large capitalist in the country
D invest in United States four per
ants on the most favorable conditions.
will be an act of undo1bted patriot
m to turn over boarded gold for +.
onds.
j. Pierpont Morgan, the head Of the .
1nd syndicate, said; 81 am not pre- :,
ared to say what course the syndicate ,
i'll pursue. there are thirty days in
hich to think over the matter No
lie has yet withdrawn from the syndi-
Ite do not see why people who de- 4
re to bid for bonds should not be able y
get gold. The syndiclte has no cor +
'r in it. =