The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-09
SALE OF THE NEW BONDS SURE.
THE POPULAR LOAN SCHEME TO
PROVE A SUCCESS.

President Cleveland and Secretary
Carlisle Determined That IL shall
Not FRiI-RespOnsibIe Men I'm Vari-
Gus Parts of the Country Sounded
On the subject Before the Call Was
Issued.
Washington. Jan. s.-There need be no
further apprehension as to the success
Of the proposed popular lone The Pres
ident and Secretary Carlisle honestly be-
lieve that every dollar will be subscribed
that is necessary 10 float the Si0O,0O0O0O
worth Of bonds They not only have faith
In the popularity Of the proposition, but
they intend to make the loan a success.
This statement is made upon the high
est authority and Il is as authentic as IL
Il We're written in the characteristics CHI
Biography OF President Cleveland, or un-
der the great seal Of the treasury de-
partment
There is not the slightest doubt in the
minds OF the President and Secretary Car
Isle that they have submitted a popu-
lar proposition, and thoy have assurances
that the loan will be made in accordance
with the spirit of the recent circular is
sued by the Secretary of the Treasury.
In spite of the various insinuations and
reflections cast upon the President and
Secretary Carlisle in connection with the
proposed loan. they have the power and
they propose to exercise II in making tho
loan success.
Up to date several offers or bids for
the bonds have been received at the
treasury department. but the fact thar
no large offers have been received has no
significance whatever The same rule
would apply If the number of offers are
no greater three weeks hence than they
are to-day. for IL is not usual or business-
like for persons intending to invest in
these bonds to begin making their offers
so early. Practical business men would
naturally hold their money back until
the expiration OF the time limit stated
~ the circular to take advantage of the
financial situation at that period When
the last loan was advertised, the entire
amount subscribed. with the exception of
S2Oo0mO. was offered just two days he
fore the time limit expired.
The President and Secretary Carlisle are
not responsible for the sensational rumors
noating around in financial and specula-
i've circles, to the effect that they are en-
gagged in trying to teach popular loan BOOM
ers an object lesson. when, as II Is al
ieBed, they are convinced that the scheme
is failure. Such statements have not the
slightest foundation. On the contrary
they are utterly untrue and unwarranted
by the facts. The proposed bond issue
was not determined upon in response to
the clamor Of wild and irresponsible news
papers. but the project was decided upon
ultef mature and deliberate consideration.
The Secretary of the Treasury has been
In correspondence with responsible persons
IN various parts of the country and there
is not the slightest doubt as TO the llti-
mate success OF the proposed popular loan.
These are the honest convictions OF
those who are responsible for the success
or failure OF the loan. and IL is not reas-
enable 10 suppose they would make such
bold and straightforward statements II
there was the slightest doubt lingering in
their minds.
II Is stated ,incn the sanaa a,,4hortt.x that
the administration does not anticipate any
financial relief from congress, while the
Senate Is controlled by the free silver sem
ators. The Reed bond bill Is not expected
to pass the two Houses in such form as TO
receive the sanction cf the President, and
the revenue bill, which was the
subject OF so much caucusing. is I'm no
way acceptable to the administration.
The President has stated the condition
OF the treasury fairly and fully in his
communications to congress, hut the re-
publleans have purposely misconstrued
his statements, or perverted them to suit
their own political purposes, hence II Is
unreasonable to expect from that source
any substantial relief In the present emer-
gency The conditions existing al the cap
ital are thoroughly understood at the
white house. and the President proposes
to use the means at hand to meet the
pending financial difficulties. He has In
vited the cooperation of congress, but
that branch of the government refuses to
give the relief asked for, but insists upon
forcing upon the administration some-
thing IL does not want and does not need.
In such an emergency the President has
appealed to the people, and he has never
appealed TO them in vain