The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-02-06
That We Have Plunged a Hum
bred Millions More
Into Debt, Cries Chauncey NJ.
Depew.
GOLDBUGS ECHO 1T
We Have Convinced Europe
That Our Credits Good,
By Throwing Away a Hundred
Million Dollars.

New YORK, Feb, G. = Chauncey NJ.
Depew, in speaking tonight on the bonds
said: "rhis is glorious. 1t will act like
the elixir of life upon the nation, 1t has
shown that the credit of this country is
beyond the power to tear it down. 1t is
a superb tribute by the people of their
faith in their country.
SIT is a tribute to the greatness of the
country; the foreign banks clamored for
the issue. as is the case of the German
banks and the other European banks. 1t
shows that the people of Europe know
that the country is sound. The people
have esta blished the credit of the coun-
try and will maintain it. They will re-
establish confidence with bound.
Things will boom from now on"
Senator John NJ. ThursIon of Ne
braska said that he had never for mo-
ment doubted the issue would be sue
cess, and then added: This is most
gratifying to every one. 1t will do more
to start things a booming than anything
else could possibly hare done. 1t is
testimonial of the peoples faith in their
country"
Ex-senator Warner Miller said. 81
am glad to see this thing such success.
1t will restore public confidence and
boom business. We are il for an era of
better times, and everything will start to
move ahead with the prospect of better
times and the surety of national credit"
Charles Foster, ex-secr etary of Ohio
and secretary of the treasury under Har-
rison, was seen at the Fifth avenue no.
tel and was in high glee over the way in
which the loan had Teen over Inscribed.
He said:
Il am gratrfied and pleased that the
people of this country have rallied
SO nohly to the call, The ma
FfC hfc,t
in the world. This outburst of national
patriotism will do more to dispel bust
ness depression than anything else in
the world could do With national credit
sustained, business improving, every
body cheerful, new epoch of American
prosperity ought to start from this date"
PIERPONr MORGAN GETS HALE
His Syndicate Bid High and VIII Prob
ably Take $5O,oOO,0OO.
WARRINGTON, Feb. 6-The work of
opened yesterday was resumed today,
and until the task is completed no in :
form alton Of an exact and definite char
acter can be Obtained as to the amounts
bid for at each of the several rates, or
as to how low a rate will be accepted.
The bid of ]. P. Morgan aud his asso-
ciates undoubtedly will be accepted to
from $40, OOe, 900 to 500, 100000
In any event it can be stated that all
legitimate bids at rate above that
submitted by Nlr. Morgan ($110.6677
will be accepted and that ali
bids below that rate will be rejected.
1t was expected by the treasury officials
that the secretary would be able to exer-
else some discretion in the acceptance
of bids and therefore would be in d posi-
ton to give the preference parties
who would agree to obtain their gold
from abroad.
The fact however, that all bids higher
than that made by Mr.. Morgan must be
accepted, precludes the possibility of
his making any discrimination what
ever, except in rare cases, where the
bidder shows that he has foreign gold on
the way and asks slight extension of
time in which to make his deposit.
The banks acted largely as the agents
of private individuals, who are the real
purchasers. This is shown to be true
by an instance cited at the time of the
last subscription issue. A New York
firm bid in $1,000, 900 of the bonds and the
treasury officials took sufficient interest
in the matter to follow them to their
final destinations 1t was found that
firm acted for four large interior banks
and each of them in turn acted in part
for a number of country banks and they
for individual customers.
The bonds were finally distributed
among several hundred private parties.
London Also Pleased.