The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1896-01-02
COMING TO LIGHT.
The Facts in Regard to Russia's Offer
of Gold.

of Gold.
The facts in regard to Russia's offer
in 1898 to supply this government
with gold with which to meet the
emergency existing at the time are
gradually coming to light. It can now
be stated on unquestionable authority
that during the panic of three years
ago, which resulted in heavy with
drawals for gold for export, the Car
of Russia, through his minister here,
Prince Cantacuzene, formally rendered
to this government loan of SOS ,0OO,-
600 for the term of three years. No
specific rate Of interest was named,
nor were any details as to terms of
repayment entered into the proposition
not passing to the stage. It was
simply generous offer of IA nation on
particularly friendly terms with ours,
and was not coupled with any hard
conditions such as might have been
reasonably expected from power on
less friendly footing with the United
States. Mr.. Cleveland, after due de-
liberation, very courteously declined
the offer. He recognized the uuselfish
generosity of the offer, and the very
friendly feeling that prompted it, but
he was unwilling to accept it, fearing
that at some future time it might re-
suit in entang!ements with other Euro
pean nations, which it always has been
the policy of the United States to avoid.
The offer has not since been reported.
In the event of another bond issue,
however, it possibly may result in the
Joan being placed with Rus sian ca pital-
lists, ard it is probable the President
has given some thought to the advisa-
bility of proposing terms with them
rather than with capitalists Of other
European nations, in case all of the
bonds are not placed in the United
States. At present, however, the
matter of bond issue is occupying a.
secondary place with the President, as
the more pressing matter of the selec-
ton of the members of the Venezuelan
boundary commission in consuming
practically his entire time.
The rumors that Mr.. j. Pierpont
Morgan of New York came to Wash
ington early in the week to tender to
the President, in case of another bond
issue, financial aid from London bank
ers are not credited here. It can be
stated on excellent authority that if
Mr.. Morgan was in Washington he
saw neither the President nor any of
his cabinet advisers, nor did he hold
any communication with them on that
or other subjects. Mr.. Morgan is not
oynoofoH in Wochiprtop
The offer of Russia to furnish the
United States with gold was very
widely discussed among members Of
the House to-day. Without going into
the details OF the story, members geu-
orally believed it safe to assume it to
be true that any amount of gold neces-
sary might be had from Russia. The
anti-English feeling being strong in the
House, much satisfaction was express
ed on account of Russia's friendly atti-
tude.
The discussion generally took the
turn of antagonism toward any prop
osition to sell bonds in England when
they could be disposed of in Russia
for gold. In some quarters it was de-
clared that for Mr.. Cleveland to nego-
tate for the sale of bonds in England,
| as he did with the famous bond syndi-
| cate, would be construed as a change
of front on the Venezuelan question.
One member Of the House, who has
been greatly interested in both the
financial and the Venezuelan question,
declared his opinion very emphat-
ically that if bonds were issued again
through the Rothschilds syndicate it
might be expected that the Venez-
uelan commission would be more
friendly to the British claims
than the Venezuelan message gave
reason to anticipate. The feel
ing against any negotiations with the
old bond syndicate is very strong in
Congress. J. Pierpont Morgan's visit
here is therefore still speculated on
with considerable interest. -'-.
It said that there is to be a bond
issue before long, and that there will
be no agreement as to where the gold
is to come from. Mr.. Morgan, it is
said, proposes an agreement between
the clearing house banks of New
York to regulate interest rates and
by that means to prevent the flow of
gold from the United States. This
proposition contends that the banks
will be able to keep most of the gold
here by marking up interest rates
when Washington Star,
Goth.