The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-10
Grow r Cleveland Denies Bond
Syndicate Reports.
ALwA rs FAVORED PoPuLARLoAn
He Inv ted No Banker TO Washington
CT y for Bond Consultation.
The p esident Calls the New York
''w rid' ''Matciously Menda-
ciou and Sensational Newspaper
A igorous Letter 10 senator
Can, ry

WASH gton City. Jan. a-The debate On
the Elk 5 resolution in the senate last Fri
day. VIII 4 the administration vas accused
by seve II senators Of having entered INTO
An agree nent with a syndicate to float the
expected issue or bonds. Is the subject OF
a letter written by President Cleveland 20
Senator Artery. The knowledge that such
letter al been addressed 20 Mr.. Cafrery
was oht ined tonight. and the letter was
made pu Tic by the latter. II is in the hand
writing 4 the president. and covers six
pages o closely written paper. IL IS in
full as 4 ll0ws:
'Execlf tive Mansion Washington CITY.
Jan 5 ss6.-My Dear Senator. | have
read tod ~ In the Congressional Record
the deba in the senate on Friday. con-
cerning ne financial situation and the
bond issi IS. | am amazed at the intoier-
ance that leads even excited part.sanship
10 adopt basis of attack the unfounded
accusatd Is and assertions OF malicious
" menda ious and sensational newspaper.
No bank or dnancier, nor any other hu-
man beir ? has been invited 70 visit Wash
ington c y for the purpose Of arranging
in any vi ty or manner FOR the disposition
OF bonds . meet the present or future needs
of the Id reserve. No arrangement OF
any kind has been made for the disposition
CT such 1nds 10 any syndicate or through
the ager Y OF any syndicate. Ne assur-
ance of lch a disposal Of bonds has been
directly indirectly given to any person.
In point "a Z fact, a decided leaning toward
d popula loan and advertising for bids
has been plainly exhibited on the part OF
the aimiW istrat.on at all times when the
subject vas under discussion. Those
charged With the responsibility Of main
tanning O gold reserve. so far a : sla-
ton renda = Il possible. have a1Niously con
ferred "a h each other and. as occasion
permitted with those having knowledge
of 1nanc Il affairs and present monetary
condition as 20 the best and most favor
able mea IS Of selling bonds for gold The
unusual Importance Of n successful result,
IL the at mpt $ again made. ought 10 lie
apparent 20 every American citizen who
bestows pon the subject a moments pa
trio+L, IN ught.
'sTbe - retary Of the treasury from the
first mon mt that the necessity OF another
sale of 1nds seemed 10 be approaching.
desired :, offer them, 4 issued, 70 the peo-
nlo bv n, olc advertisement, II they could
thus be : ecessfully disposed OF. After fun
considers on. he came 70 the conclusion.
10 which fully agree. that tbs amount OF
gold In ne reserve being now s2000o,000
roora N e was in February last, when
a sale az bonds was made 10 a syndicate.
ana othe conditions differing from those
then exi ing, Justify Us In offering the
bonds no s. about 10 be Issued for sale by
ronllar Inscription.
This the entire matter, and all those
uarttrtla could have been easily obtained
by any n ember Of the senate by simple In
ouirv Mr.. Morgan or any one else. rea-
soning )n his own standpoint, brought
himself the belief that the government
would a length be constrained to again
sell hon 10 a syndicate. l suppose he
would 81 e a perfect right. If he chose. To-
take s,I-l steps as seemed ID him prudent,
n nut n Iself in condition 10 negotiate L
exneot ar issue of bonds wiz be advertised
for sale J. morrow. and that bids viii be I'M
vited no only for those now allowed by
Law, bf,+ M Tor such other and different bonds
as coner IS may authorize during the pend
ing of n advertisement Not haN4hs had
an onno unity 10 confer with you in per-
CO.., sire4 the present session OF congress
began, a j houcIhs your Par tClpdiloh ~
the deha last Friday. I have thought It
not arnis 10 put You in possession OF the
facts an informaton heFeh contained.
Yours Ve y truly ..-. -.
GROVER CLEVELAND"