The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-04-18
Government Bonds Of the New
Republic Out.
AN ISSUE FOR $40, 900
PAYABLE Ten Years After Spain
Evacuates Cuba.
TO DRAW 6 PER CENT INTEREST
The Bonds Are to Obtain Funds for
Carrying on the Government
and the Purpose of Its
Organization.

| New York, April 1T.-Gold bonds Of
/ the Provisional Government of Cuba
] will soon be on the market here. The
| securities are already engraved, anti
| advertisements inviting sealed propo-
| sails for their purchase appear in this
mornings papers.
The entire issue planned is 100000
| 600, but the first venture viii involve
| only 81, 100000 of the whole. The bonds
| are to be of coupon form, payable IN
| gold at 6 per cent, in denominations
| of ST 900, $500, 500 and $50, principal
| and interest payable in Havana or New
York
The recftals in the bond make the
principal due ten years after the eyac-
uatbon of the Island of Cuba by the
Spanish forces, and all revenues arc
pledged to the payment of principal
and interest. 1t is to be understood that
while the time is specified for the re-
demption Of the coupons, payment may
be deferred for six months after eyac-
uation by Spain. They are to be reeeiv-
able for taxes in proportion ofone-ffth.
There is no upset price, but no bid un-
der 60 per cent. of the face value viii
be received.
The authority to issue the bonds is
conferred upon Thomas Estrada Palma,
Delegate Plenipotentiary of the Gov
eminent of the Republic of Cuba to the
United States, by /. Salvador Cisneros-
Ky Bentacourt, President of the Repub-
lie.
!. The official invitation to buy the
bonds is made by b. j. Guerra, Treas
urer of the local Junta, and a tobacco
merchant at 1872 Water street, At the
head of circular he will send out to
individuals, Senior Guerra has written
this quotation from the American
Declaration of independence:
when long train OF abuses and
usurpations, pursuing invariably the
same object, eyinces design TO reduce
them under an absolute despotism, it
is their right, it is their duty to throw
off such government, and TO provide
new guards for their future security"
The circular then relates:
ssIt is now one year since a handful
of patriots in the eastern department
of the island Cuba raised the flag of
independence. Undisciplined, unarnl-
ed, footsore, they started in their strug-
gle for liberty with only one goal, free
dom, and with no other means than
their resoluteness and true-hearted
patriotism.
'sNew bands appeared here and there,
and little by little they united and or
ganized; the IIoerating army grew
more and more every day, and from the
eastern provinces passed TO the west
ern, calling upon every citizen TO do his
duty, organizing in succession the sew
eral corps. Santiago de Cuba, Puerto
Principe, Santa Clara, Matanzas, Ha-
bana. and Pinar del Rio raised success
fully the Republican standard, and the
whole island to-day is burning with the
desire for freedom"
Besides standing army of over fifty
thousand men in the field, commanded
by experienced and patriotic generals,
a Republican government has been
formed with President and Cabinet
of officers They have declared their
independence. A Legislative assembly
has been elected; laws have been made
under which all civil affairs are trans
acted; taxes have been levied and reg
ularly collected and cheerfully paid.
Governors have been appointed to
regulate the public affairs in every pro-
vince; the Cuban Postoffice Depart
ment is thorough and perfect, mails
| being received from and forwarded 10
foreign countries with regularity all
over the island.
1T has now become necessary to OH
] tain funds for the carrying on of the
| Government and the purpose for which
| it was organized.
81 desire to call your attention to the
enclosed notice of sale OF S2,000.000 6
| per cent. gold bonds of the Republic Of
| Cuba, offered for sealed proposals on
April 20, 1896.
'sAs there can be no question of the
ultimate success. of the Cuban forces
| there can be no1uestion as to the value
of this bond, all the revenues of the
| island being pledged for the payment
| of both principal and interest.
ITO those who would be willing to
| subscribe funds to assist the cause, it
offers the prospect of handsome re-
| turn for their subscription.
10 those willing 10 buy a bond and
take the chances of large profit, it
offers an unusual opportunity.
1T can be purchased by those hag-
| ing interests in the island as an insur-
ance, profitable in any event"
There is every indication" said
Senior Guerra, yesterday, 'that our
issue of ST, 000, 900 of bonds will be read
ily disposed Of Several responsible
syndicates have offered to take the
whole lot at a lump price. We have,
| however, declined such offers, beliey-
ing that popular loan, ike that SO re.
Gently made by this country, will be the
more satisfactory all round.
I'VE have already received assurances
that make rs feel that the issue will
he successful beyond doubt. In due
time other issues of So, 100000 cash will
follow, and every cent realized will be
devoted to promoting the warfare
against Spain"