The Portland daily press., 1896-02-07

~ / sympathize, nevertheless, with some
of the objections made to that form of
placing loan. The difference between
the price obtained from the syndicate and
the price currently quoted can be twist
ed Unto an argument which will ap-
peal to people who do not stop to calcu-
late the actual cost to the syndicate
SURPASSED EXPECTATION.
the Bond Issue-Chorus of Praise from
Press of Country.
New York, February 6.-Com menting
editorially upon the overwhelming sub
scription to the new bond isue, the Tri-
bune says this morning: "Ihe mag
nicent success of the bond issue is at
once scathing condemnation of the past
an impressive proof of tho nations or edit
and convincing assurance of the future.
The demonstration of the enormo us
strength of the nations credit is all
the more impressive, and will have all
the more influence throughout the world,
because of she recent excitement regard
ing foreign questions which are not yet
settled.
''If any foreign power has been tempt
ed to believe that the republic could not
command resources from it's own people
the answer of the people yesterday will
show them that in any good cause the
nation is ready to place at the disposal
Of the government money enough for
any emergency.
'It has shown that the capitalists of
other nations have faith in the United
States, even when the Rothschilds and
others in England are silent. 1t has
shown above all that without leaning to
ion a01 t1rff frTI Io1,, IL
of these United States are both willing
and abundantly able &c uphold their gov
ernment.'
The Herald says: "The large bids at q
heavy pre- mum f or foreign account con-
stitute The highest tribute that can be
paid to our financial standing among the
nations of the world; but they point a
severe mOral-that nation with sound
credit, whose obligations are eagerly
sought and which command high pre-
MUM must be following inherently
bad financial methods to force her,
though her revenues are large and her
treasury balance ample, into the money
markets of the world as a heavy borrower
of gold to meet obligations which wise
legislation would have readily provided
for long ago.
1.-The effect upon business throughout
the country of the overwhelming SUBJ
soription to the loan, will be most excel
lent. The result of ver-subscription to
governmnt loans has been the same the
world over. 1t tends to an increase of
public confidence greater sense of se-
ourity in commercial ciorles, healthier
and moro cheerful tome of business and
acts as an unconscious Stimulant to trade
generally"
The Times says: "The bids Of more
than five times the loac asked for by the
government, in order to maintain the
gold standard, is the answer of the solid
men of the country to the wild and
malignant attacks of the free silver men.
That is the meaning of shis really ire
mendouS demonstration, which the whole
world win recognize.
"The free silver men did their best in
every way ana at every turn to embar-
rass the government They rushed their
free coinage bill through the Senate on
the eve of the openlgn of the bids, and
not content with this they sprung anoth-
or free coinage measure OH the Senate as
a substitute for theHouse tariff bill.
"They were permitted without rebuke
from the professed friends of sound
money to utter the most outrageous and
indecent libels upon the administration
and it's head. 1t is from these circum-
stances that the response to the loan
offer of the government takes it's real
meaning. That meaning is notsronly that
Tue people VI Une Culoeu OUaG6S, repre-
sented by their bankers and business
leaders, have not the slightest fear that
the gold standard will be abandoned or
gold payments interrupted, but they are
determined that this terrible disaster
shall not be- The vast subscription to
the loan is convincing proof of absolute
confidence in the credit of the nation %
The Recorder says: "This tremendous
fver subscription of Mr.. Clevsland's
fourth loan, proves several gratifying
things. 1t proves the unbounded conf
dence Of the American people in the
strength and stability of their own gov
ernment; also their unshsken faith in
it's perfect solvency, and the oerainty of
the redemption at par, dollar for dollar,
of every piece OF paper it issues. 1t
proves, too, that what has been done now
with this fourth bond issue might have
been done with the previous three
issues.'
The Journal says: ''The superb DEM
onstraton of yesterdays subsorjption
five and one half times as great as was
asked for, from more than 5000 different
souroes-will convince European oavil-
lers that no element Of financial weak
ness will compel the American nation to
abate one jot Of it's legitimate preten-
sions"
The World says: s'The credit of the
government is maintained. The financial
independence of the nation is successful
ly demonstrated. The confidence, the re-
sources and the patriotism of the people
are spIendidly vindioated.
The Press says: "In 35 years there has
been no manifestation similar to that of
the uprising of the loyal states till yes
terday. Then, with that deliberate. q uiet,
which struok Hawthorne as the most aw-
full feature of the uprising in 81, the peo-
pie of this Union assembled at the great
gray shrine of the public credit at
Washington, and pledged their faith in the
inestructihie character and unblemishable
honor of this government for, SO far as
they were concerned. all time to come"