The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-07
CARLISLE BOND CALL
congressman Not Disposed to Talk
About 1t.
THE BANKERS HOLD ALL THE GOLD.
Substitute Reported for the hodsc
Bond Bill.
THE BANKERS HOLD ALL THE GOLD,
sEIGNIORAGE TO BE COINED
Ma. National hank Noic to Be Issued for
Denomination Less Than
Ten Dollars.


Washington. January 6.-Senators did
not seem disposed to talk about the bond
call issued by Secretary Carlisle. Demo-
cratic senators were generally noncomit-
tall
Senators Harris and Vest, members OF
the finance committee. said they had not
read the call and had nothing to say.
Senator German said the cali was all
right and was the same as the frst two
bond issues by this administration. There
We're not many republican senators about
the capitol. Most OF them were reticent
as to the call.
Senator Morrill,. chairman OF the finance
committee, said there was nothing to say
about the call; that It spoke FOR itself,
Senator Teller said ne was gratificd
that the president had decided upon
popular loan and he had no doubt but
that the people would respond in a way
to justify the course decided upon.
Mr.. Teller did not believe that the en-
tire sum of 800, 200 asked for would
be necessary. For himself. he did not
consider that any bonds were demanded,
and he thought that even from the presi-
dents point of view a smaller sum than
S0o.000,0oo would be sufficient.
The call was an entire surprise to the
house. for II had not been anticipated
The plan is generally approved by mem
bers of both parties who believe in the
necessity for II bond issue. and thoJe OPP
posed to bonds altogether think the ar
rangement better than that with the New
York syndicate which was generally ex-
pected There was some dissatisfaction
because the president had seen At to wait
until the house had acted On the revenue
bill, though there is no expectation that
the bond bill will pass the senate. Among
the enemies of a bond issue. talk was
heard of resolution declaring the senti-
ment of the house to be against their is
sniance. but this was considered imprpc-
ticable as well as exceedingly unlikely TO
pass.
Mr.. Cannon. chairman of the appropria-
tons committee, said:
"As understand 1t, the proposed syndi-
cate ARRANGEMENTS substantially look to-
ward placing the bonds In the United
States. II these bonds were now ready
for delivery and the country understood
that they could be had for 10 to 1i2. which
is below the market price for similar
bonds, / have no doubt the banks would
take them 10 increase their circulation,
usirg the gold in their vaults to make
payments. ! hope they will do so ms the
bonds run for thirty years and can no
doubt be bought on a per cent basis and
would yield a small profit for the banks
for speculation on that basis"
Mr. Walker of Massachusetts,, chairman
of the banking and currency committee
said: when the president has chance
to issue ten-year bonds and issues thirty
year bonds, he does an act that will be
universally condemned In the near future
if not today. THE people will demand that
these bonds be paid, even at n considerable
N nrnhph'
within five. and will execrate the man
who has bound them hand and foot for
thirty years"
Mr.. Hepburn Rep. Iowa) said: This
call places Senator Hin In rather a queer
light after his assertions that nothing OF
the sort was contemplated. II looks as
though his defense of the administration
was unauthorized"
DR.. Dingley. chairman OF the ways and
means committee. declined to he quoted.
The general opinion of the republicans
seems to be, however an approval OF the
determination of the president TO offer the
bonds to the people, hut regret was ex-
pressed that an invitation was not ex-
tended to the public to take the bonds Mt
once. A general fear was expressed that
a month delay before the offer could be
obtained might have a depressing effect on
business and might imperil the gold re-
serve too much
oughly approve of the circular. I think
II will be popular and successful. ] am
glad the clause is inserted that gives the
public an opportunity to bid under the
provisions of the house bill II It passes
the senate. The determination TO let the
public bid for the loan. places the admin
istraton in the best possible attitude"
Up to the time of closing the department
today the treasury officials had received
only fcw kilograms concerning the new
loan and these were not of character to
indicate how the announcement had been
received throughout the country. Al
though the president was constrained To
make this a popular loan, so far as pos
sible. by soliciting individual subscriptions.
II Is understood that neither he nor Mr.
Carlisle place any reliance on It's success,
except through the aid Of the syndicate,
not because OF any lack OF confidence, but
for the reason that the gold of the country
is very largely In the hands OF the bank
ers who are unwilling to part with II ex-
cept to their own material advantage, and
at this time. when 1t Is at n