The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-01-10
MIR. CLEVELAND'S LETTER.
The Pre- tnburdcns Ills Mind and
Runs the Campaign RumOr to the Earth.
So to Speak.


SO to Speak.
Washington. Jan. 9.-Senator Caffery.
of Louisiana, tonight made public let
ter of the presidents to him which had
opportunited presented since Monday
he would have Incorporated in remarks
which he intended to make in the SEN
ate on the bond bill. 1t reads:
Executive Mansion. Washington. Jan. !.
My Dear Senator:-l have read today in
the Congressional Record the debate in
the senate on Friday concerning the finan-
cial Situati ion and bond issues.
| am amazed at the intolerance that
leads even excited partisanship to adopt
as Il basis of attack the unfoundcd ccusa-
tions and assertions of a maliciously men-
daciouS and sensational newspaper
y banker or iinancier nor any other hui
man being has been invited to visit Wash
ington for the purpose of arranging In any
way or manner for the disposition of bonds
to meet the present or future needs of the
gold reserve. sH...
No arrangement of any kind has been
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 given TO
any person. In point of fact a decided
leaning toward a popular loan and adver-
tsing for bids has been plainly exhibited
on the part of the administration at all
times. when the subject was under dis
cussion.
Those charged with the responsibility of
maintaining our gold reserve, so far as
legislation renders | possible. have anN-
ously conferred with each other and as
occasion permitted. with those having
knowledge of financial affairs and present
monetary conditions. as to the best and
most favorable means of selling bonds for
gold.
The usual Importance of a successful re-
suit if the attempt is again made ought
to be apparent to every American citizen
who beStows upon the subject moment
patriotic thought
The secretary of the treasury from the
first moment that the necessity OF anotf1'
sale of bonds seemed to be approaching
desired to offer them If issued to the PEG,
pie by public advertisement If the could
thus be successfully disposed of. After
full consideration he came to the con-
clusion to which fully agree. that the
amount of gold in the reserve being now
so O0O, GOO more than ii was In February
last. when a sale of bonds was made to a
syndicate. and other conditions differing
from those then existing, Justify us in
Offering the bonds now about to be issued
for sale by popular subscription This Is
the entire matter; and all these particu-
lars could have been easily obtained by
any member of the senate by simple in
quiry.
If Mr.. Morgan or any one else reasoning
from MS own StduupOlu DiOuSHt
to the belief that the government would al
length be constrained to again sell bonds
TO a syndicate. | suppose he would have
perfect right, If he chose to take such
steps as seemed to him prudent, to pui
himself i'm condition to negotiate.
| expect an issue of bonds will be adver-
tised for sale tomorrow. and that bids
will be invited not only for those now al
lowed by law for such other and different
bonds as congress may authorize during
the pendency of the advertisement.
Not having had an opportunity to confe!
with you in person since the present ses.
sion of congress began and noticing youi
participate in the debate of last Friday
| have thought not amiss TO put YOU
in possession of the facts and information
herein contained.
Yours very truly,
Grover Cleveland.
Hon Donaldson CafferN.