The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1896-01-15
PRESIDENT INDIGNANT.
ATTACKS ON HIM BY SENATORS RUF-
FILE HIS TEMPER.

FILE HIS TEMPER.
Gates, But an Admission That He Has an
Anchor TO the Windward in That Direc-
tion.
WASHINGTON, Jan. 9.-The debate
on the Elkins resolution in the Senate
last Friday, when the administration
was accused by several Senators OF hav-
ing entered into an agreement with
syndicate to float the expected issue of
bonds, is the subject of a letter written
by President Cleveland to Senator
Cafery of Louisiana. The knowledge
that such a letter had been addressed
to Mr.. Caffery was obtained tonight
and the letter is made public by the
latter: 1t IS in the handwriting of the
President and covers six pager of close
ly written note-paper. It is in full as
follows:
Executive Mansion, Washington,
Jan. 5, 1896.
My Dear Senator: have read to-
day in the Congressional Record the
debate in the Senate on Friday con-
corning the financial situation and
bond issues.
am amazed at the intolerance that
leads even excited partisanship toadopt
as basis of attack the unfounded ac-
cusations and assertions of miracu-
lous and sensational newspaper.
No banker Or fnancier or any other
human being has been invited to visit
Washington for the purpose OF ar.
ranging in any way or manner for the
disposition of bonds to meet the pres
ent or future needs of the gold reserve.
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 disposal of
bonds has been directly or indirectly
given to any person. In point of fact
decided leaning towards popular
loan and advertising for bids has been
plainly exhibited on the part of the
administration at all times when the
subject was under discussion.
Those charged with maintaining our
gold reserve, so far as legislation rem
ders it possible, have anxiously con-
ferred with each other and, as occa-
sion permitted, with those having
knowledge, of financial affairs and
present monetary conditions, as to the
best and most favorable means of sell
ing bonds for gold.
The unusual importance of a sue
cessful result if the attempt is again
made ought to be apparent to every
American citizen who bestows upon
the subject moments patriotic
thought.
The Secretary of the Treasury from
the first moment that the necessity of
another sale of bonds seemed to be
approaching desired to offer them, if
issued, to the people by public adver-
tisement if they could thus be success
fully disposed of. After full consid-
Grafton be came to the conclusion, to
which I fully agree, that the amount
of gold in the reserve being now $780,
000, 900 more than it was in February
last, when sale OF bonds was made to
syndicate, and other conditions diff
fering from those then existing, justi-
6es us in offering the bonds now about
to be issued for sale by popular sub
scription.
This is the entire matter; and all
these particulars could have been east
ly obtained by any member of the
Senate by simple inquiry.
If Mr.. Morgan or anyone else reas-
oning 1romhis own standpoint brought
himself to the belief that the govern
ment would at length be constrained
to again sell bonds to a syndicate, I
suppose he would have perfect right,
if he chose, to take such steps as seem
ed to him prudent, to put himself in
condition to negotiate.
expect an issue Of bonds will be
advertised for sale tomorrow, and
that bids will be invited, not only for
those now allowed by law, but for
such other and different bonds as
Congress may authorize during the
pendency of the advertisement.
Not having an opportunity to confer
with you in person since the present
session of Congress began, and motto.
ing your participation in the debate of
last Friday, thought it not amiss to
put you in possession of the facts and
information herein contained.
Yours very truly,
GROVER CLEVELAND.
To Hon. Donaldson Cafery.