The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-01-16
CLEVELAND 70 cAFFERy.

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CLEVELAND 70 cAFFERY. @'g
4 President Shows the Attitude Of tho Adj
" sGssqsg3 55y SS h ministratlOn. a.
Washington, Jan. Ex-senator CAT
ferry, OF Louisiana, has made public q
letter Of the president to him. which.
Lad opportunity presented since Mon
day, he would have incorporated in re-
marks which he intended to make in
the senate on the bond bill. It reads:
Executive Mansion. Washington, Jan.
s. 1ss&---My' Dear Senator. have rea" to-
day, III tho Congressional. Record. this de-
bate, IN the senate on Friday, concerning
the financial situation and bond issues. I
am amazed at the Intolerance that leads
even excited craftsmanship to adopt A.
haBis OF attack the unfOrnded accusations
and assertions OF a maitciously menda-
/, :ious and sensational newspaper -"
mo banker or fnaneier. nor any other
human bang. has been invited to tistt
Washington for the purpose Of arranging.
In any way or manner, for the dispostion
II OF bonds TO meet the present or future
needs OF the gold reserve. ..
.'No arrangement of any kind has been
mado Tor the disposition of such bonds
10 any syndicate or through the agency Of
any SynOlC0to.
mo assur ance of such q disposal Of
bonds has been directly or Indirectly given
10 any person In point OF fact, a decided
( leaning towards popular loan and adver-
Using sfor bids has been plainly exhibited
On the part of the ADMINISTRATION at all
Times when the subject was under Discus
sion. - T"+. ''' u
'..rhose charged with the responsibility
Of maintaining our gold reserve, so far an
7 legislation renders 1t possible, have 6nX
lousy conferred with each other. and as
occasion permitted will: those having
knowledge of financial affairs and present
monetary conditions, as to the best and
most favorable means Of selling bonds for
gold. The unusual Importance of q sue
ressful result, II The attempt Is again made.
ought to be apparent to every American
citizen, who bestows on the subject mo-
Of the treasury, from the first moment
that the necessity Of another sale of bonds
seemed to be approaching, desired to offer
them II issued to the people by public adj
vertiscment, IL they could thus be SUCCESS
fully disposed of. After full consideration
he came to the conclusion to which fully
agree. that the amount OF gold in thu re-
serve, oeing now $2Os000. 900 more than 1t was
in FEBRUARY last, when sale OF bonds was
made to q syndicate, and other conditions
differing from those then existing. justify
= US IN offering the bonds now about 10 be
issued Tor sale by popular subscription.
This !r the entire matter. and all these car-
ticulsrs coula have been easily obtained
by airy member Of tho senate by simple in
quiry.
ing from his own standpoint, brought him
self t. the belief that the governn ent
would, at length, be constrained to again
sell bonds to q syndicate. ! suppose he
would have a perfect right, II he chose.
10 take such steps as seemed to him pru-
don't RI NIT .hinaelf in condition to ne.
Eotiate
"I'expect an issue of bonds will be ad-
vertised for sale tomorrow, and that bids
will be invited, not only for those now al
lowed BY law, but for such other ana diff
terent bonds as congress may authorize
curing the tendency of the advertisement.
Not having had an opportunity to con-
: fer with you in person since the present
I session Of congress began, and noticing
your participation In the debate OF last
Friday / have thought It not amiss - put
you IN possession of thestacts and thlor-
,natioa herein contained ~ a.
E. E''#t& % Yours very truly,
+&;.st Is GROVER CLEVELAND.
Hon Donaldson Caffery."
Washington, Jan. 10.-Secretary Car
Isle expresses the opinion that the new
bond issue will be q success. He did
not intimate whence the gold would
come, but he spoke with full knowl-
!, edge Of the number of inquiries for
blank forms for bids and the informal
!. cffers already made. The mails brought
in quitea number of inquiries for blank
forms On which to make bids and, in
some cases, persons DESTROYS Of sub
bcribing stated the amount they wanted
and the price they would offer. These
figures, of course, are withheld from
publication. The bids are regarded as
informal and where possible, those
making them will: be communicated
with and blank forms will he sent 80
that they may comply with all the re-
Quirements and make their bid in reg
ular' shape. A circular letter Of instruc-
ton to prospective bidders was issued
Thursday. It says:3
The subscriber should state plainly the
amount Of bonds desired. the price which
he proposes to pay and the pace where
the bonds should be delivered. which may
be TIL. subscriber = home or any other more
convenient place. He should, at the same
time, state whether he desires to deposit
the amount Of his subscriDtion ut the treas
ury department In the city OF Washington
s,r at one Of tho following subtreasuries.
viz: New York. Boston, Philade. phia.
Baltimore, Cincinnati. Chicago. st. Louis.
New orleans or San francisco. Deposits
at said places must be with exchange on
New York. The bonds will be issued In the
following denominations viz: Coupon
bond so. 800. $50O and $1,000: "feRis:ered
bonds 10 500, $780, 81 900. &. 900 and 81. co.,"
..,r& GONE TO PIECES.
New. York "world" Declares the Bond
,.s&e% Syndicate Broken.
4 New York, Jan. 13.-The figures of
the New York World show that the
Morgan bond syndicate is broken be-