The daily morning journal and courier., 1896-01-07
THIRTY DAYS TO THINK
MR. PIERPONT MORG4N'S VIEWS ON
 THE BOND SYNDICaTE.
He Says That No One Has Yet Withdrawn He Says That the Syndicate Has no Garner on Goid-The Feeling in Ger many's Banks.


 many's Banks.
 Washington, Jan. 6.-Orders were to- day given to Chief Johnson of the bu- reau of engraving and printing to pre- pare the distinctive paper for the print ing of the new issue of bonds. As all the plates are ready all that will be necessary will be to print the face of the bonds when it is known how many of each denomination is wanted.
 A feeling of relief Is expressed in po- litical and financial circles here over the fact that the administration has at ton of selling bonds. The tension for the past ten days had been extreme. The bond proposal differs from the three others that proceeded it in that it is alternative in character. It opens the way for the acceptance of bonds on terms prescribed by congress, should congsrs see fit to act before February 5. Under the clause reserying the pow CT to reject any or all bids the admins tration can sift out from the proposals, should congress act before February ,, whatever bids may be considered most favorable to the government, and should congress not act then under the admin istration's popular loan proposition those proposals most favorable can also be accepted. Thus, while inviting for S100000, 600 bonds, less than that amount may be accepted should the terms pro- posed be considered unfavorable. There was not much discussion among the members of the house to-day respecting the new issue. While the republicans generally were willing to be quoted, their interest in the circular was of passive nature and not wholly commen- datory. One of the most influential re- publcans in the house expressed the fear that the circular causes a post ponement of a matter that demands inn mediate attention.
 Mir. Dalzell, rep, of Pennsylvania, q member of the ways and means com nlittee, regarded the administrations action as a practical triumph for the republicans. Other republicans thought the circular would lose it's practical ef- feet, as in their judgment the Morgan Belmont syndicate would in the end se- cure the bonds.
 MT Powers, rep, of Vermont, was disposed to regard the circular approv- ingly. His argument was that If the people could obtain the gold to pur- erase the bonds without drawing upon the supply in the treasury the popular loan was the proper thing. If the gov ernment must borrow money, MT. Pow CTS said the people were the most de srable creditors it could have. It plac- ed the debt in friendly hands and iden- tified them more closely with the public veal In his opinion the people would respond to the governments call, and it would swell the heart of every Amer ican with pride If he could say that we were no longer in the grip of foreign money lenders, who were our friends for revenue only. "As we are now in s4sting upon American rights in diplo- macy" he continued, 'let us demand them ,:n our financial transactions"
 MT Walker, rep, of Massachusetts. chairman of the house committee on banking and currency, speaking Of the proposed bond issue said that little short of generation would be visited by the people upon the head of the admin istration for its course.
 MT. Catchings of Mississippi, whose relations with President Cleveland are most cordial and who is also cham pion of sound money, feels that the sec- retary's action meets the necessities of the situation, and that MT. Carlisle could not with safety have waited T. .lg Ior tary for increasing the loan to $100,000,- 900. He thinks that if the legal tender notes continue to be offered for redemp- tion with reasonable rapidity a very large part of them will fbe absorbed be- fore the reserve can again be seriously depleted These. added to those now in the treasury through previous redemp- tions, will, he thinks, make it much more difficult to continue the raid upon the treasury and will correspondingly afford relief.
 Mir Bailey of Texas said if the sec retary would exercise the option with which the law invests him no sale of bonds would be necessary, but if the governments option Is to be surrender ed to the note-holders, and in conse- ouence bonds must be sold, then it is certainly better that they should be of fered to the public than they should secretly to a syndicate of bankers. The issue will probably be taken by bankers and capitalists, but they will be com pelled to bid against each other and this will bring the government better price for it's bonds.
 New York, Jan. 6.--J. Pierpont Mor- gan. the head of the bond syndicate, said this afternoon:
 T am not perpared to say what course the syndicate will pursue. There is thirty days in which to think over the matter. No one has yet withdrawn from the syndicate. I do not see why people who desire to bid for bonds should nto be able to get gold. The syndicate has no corner in it."
 John A. Stewart, president of the United States Trust company, stated this afternoon that there was no truth in the report that he was organizing an independent syndicate 10 subscribe for the new bonds
 Berlin, Jan. 6.-The Deutsche bank group which proposed to take part of the new American loan, upon learning that the bond issue caleld for by Sec retary Carlisle would be g home loan for which 1.0S would be offered in the United States have announced that they