Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-01-10
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N m XIII
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N1nyTn1ord Ctofnd Whnt
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SLINGS ADJECTIVES

Washington. Jan. s.--The debate on
the slkins resolution In the senate
last Friday when the administration
was accused by several senators of
having entered into an agreement
issue OF bonds is the subject OF let
ter written by President Cleveland TO
Senator CafIery of Louisiana. The
knowledge that such letter had
been addressed TO MIR. Gallery was OBJ
tanned tonight ana the letter was
MADE puohc by the later. 1t Is in
the handwriting OF the president and
covers SIX pages OF closely written
note paper. A. rs IN tuil as follows;
Executive MANSON, washington, ID.
c., Jan. 5.-My dear Senalor--l have
read to-day in the COnsI essional kec-
ord the debate In the senate ON Fri
day concerning the financial situa-
ton and bond Issues. | am amazed
at the intolerance that leads even
excited partisans to adopt as a basis
OF attack the unfounded accusations
and assertions OF a mahciously, mem
dacious ana sensational newspaper.
No banker or iinancier or any other
human being has been Invited to visit
Washington for the purpose OF arrang-
ing In any way or manner for the dis
position OF the bonds to meet the pres
ent or future needs of the gold re-
serve. 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
decided leaning toward popular
loan and advertising for bids has been
plainly exhibited on the part OF the
administration at all times where the
subject was under discussion.
Those charged with the RESPONSE
billty OF maintaining our gold reserve
SO far as occasion renders 1t possible
have anxiously conferred with each
other. and as occasion permitted. with
those having knowledge of financial
affairs and present money conditions
as to the best and most favorable
means of selling bonds for gold. The UNI
usual Importance OF a successful result
II the attempt is again made ought TO
be apparent TO every American citizen
who bestows upon the subject mo-
ment's patriotic thought.
The secretary OF the treasury from
the first moment that the necessity of
another sale Of bonds seemed 20 be
approaching desired to offer them TO
the people by public advertisement, IL
they could be successfully disposed IL.
<AlNel luii tb'Nlhtld ilOil itS NthsllN AZ ANlF
conclusion. to which fully agree. that
the amount of gold in the reserve
being now s2o,000.0O0, more than II was
in February last when n 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 particulars could have been cas-
lily obtained by any member "a tEr SOC.
ate by simple inquiry.
If Mr.. Morgan or aryenc else reason
ing from his own standpoint brought
himself TO the belief that the govern
ment would at least be constrained to
again sell bonds TO n syndicate. l sup
pose he would have perfect. right, II
he chose TO take such steps as seemed
to him prudent. to put himself m tondI-
iion to negotiate.
i expect an issue Of bonds Will be
advertised for sale tomorrow. and that
bids will be inv ~ not only from
those now allowed oy law, BIZ. for surh
other and different bonds - conditions
may authorize during TIE pendency OF
the advertisement. Not having mad N
opportunity to confer with you IN l'cr-
son since this sC<jion began. and no.
ti,ing your participation IN the debate
of last Friday, ] have thought It not
n,niss to put you In possession Of the
facts and information herein Contain
ed. Yours very truly.
GROVER CLEVELAND.