The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-01-16

Washington. Jan. s.-The debate on
the Elkins resolution in the Senate last
Friday. when the Administration was
accused by several Senators OF having
entered into an agreement with the
syndicate to float the expected issue
Of bonds. is the subject OF letter writ
ten by President Cleveland to Senator
Caffery. The knowledge that such a
letter had been addressed to Mr.. CAT
fiery was obtained tonight. and the let
ter was made public by the latter II
Ia In the handwriting Of the President.
and covers six pages OF closely written
note paper. 1t is in full as follows:
Executive Mansion. Washington. Jan
Ny Dear Senator:-I have read today
in the Congressional Record the debate
In the Senate on Friday concerning the
financial situation and bond Issues.
/ am amazed at the intolerance that
leads even excited partisanship to adopt
as basis OF attack the unfounded accu-
sationS and assertions of a maliciOuSly
mendacious and sensational newspaper.
No banker or financier, nor any other
human being has been invited to visit
Washington for the purpose Of arranging
in any way or manner for the disposition
OF bonds to meet the present or futur,
needs OF the gold reserve.
NJ OF any KIM mas DEeIl
made for the disposition of such bonds
to any syndicate or through the agency
Of any syndicate.
No assurance of such a disposal Of
bonds has been directly or Indirectly tiv-
en- to any person. In point OF fact a e.
Gided leaning towards a popular loan
and advertising for bids has been plainly
exhibited on the part OF the Administra-
ton at all times when the subject was
under discussion.
Those charged with the responsibility
OF maintaining our gold reserve, SO tar
as legislation renders II possible, have
anxiously conferred with each other. and.
knowledge of financial affairs and politi-
cal monetary conditions as TO the best
and most favorable means of selling
bonds for gold.
The unusual Importance of a successful
result, If the attempt is again made.
ought to be apparent to every American
citizen who beStowS upon the subject
moments patriotic thought
The Secretary of the Treasury, from
the first moment that the necessity Of an
other sale of bonds seemed to be APP
preaching, desired to offer them, If is
sued, to the people by public advertise
ment, II they could thus be successfully
disposed of. After full consideration he
came to the conclusion, to which l filthy
agree, that the amount of gold in the
reserve. being now &0,0O0,O00 more than II
was In February last, when a sale Of
bonds was made to a syndicate, and eth
or conditions differing from those then
existing. Justify us In offering the bonds
lar subscription.
This is the entire matter, and all those
PARTICULARS could have been easily OBJ
tained by any member of the Senate by
simple inquiry,
n Mr. Morgan or any one else, reason
ing from his own standpoint, brought
hfmself to the belief that the Govern
ment would at length be constrained to
aEnin sell bonds to a syndicate. / sup
pose he would allow that the representa-
tive OF the Government would have per
feet right, If he chose, to take such steps
- seemed to him prudent to put himself
IN condition to negotiate.
! expect an issue of bonds will be cd
vertised for sale tomorrow, and that bids
Will be invited not only for those now al
lowed by law, but for such other and DIFF
ferent bonds as Congress may authorize
during the tendency of the advertise
ment.
Not having had an opportunity to con-
fer with you In person since the present
session of Congress began, and noticing
your participation in the debate of last
Friday, l have thought it not amiss to
put you in possession of the facts and in
formation herein contained. Yours very
truly, GROVER CLEVELAND.