The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-01-18
CLEVELAND 70 oAfreRv.



Washington. Jan. Senator CAT
fiery. of Louisiana. has made public a
letter OF the president TO him which,
Lad opportunity presented since Mon
Gay. he would have incorporated In re-
marks which he intended 10 mike In
the scnntr on the bond bill. IL reads:
Executive Mansion. Washington. Jan.
;. 1875 My Dear Senator : I have rea@ to-
day. ln the Congressional. Record. this de-
bate In the senate on Friday. concerning
the financial situation and bond issues.
am amazed at the Intolerance that leads
oven excited partisanship 70 ADOPT as a
basis Of attack the unfornded accusations
ana assertions OF maiiciously menda-
,fous and sensational newspaper
M banker or inancier. nor any other
humes hesng. has been invltco 10 Visit
Washington for the purpose OF arranging.
IN any way or manner. for the dlspos'tion
OF Doads TO meet the present or future
needs OF the gold reserve
~ arrangement or any kind has been
made for The disposition OF such bonds
10 any syndicate OF through the agency OF
any syndicate.
mo assurance OF such n disposal Of
bonds has been directly or Indirectly given
20 any person. In point OF fact. a decided
leaning towards a popular lonn and adver-
Using for tdds has been plainly exhibited
times when the subject was under discus
sion.
Those charged with the responsibility
OF maintaining our gold reserve. so far as
legislation renders Il possible. have Gnn
'ously conferred with each other. AMI as
occasion permitted with those having
knowledge OF financial affairs and present
monetary conditions. as 10 the best and
most favorable means OF selling bonds for
gold. The unusual Importance OF n sue
cessfol result. IL he attempt A. again rnnde,
ought 10 be apparent 20 every American
citizen who bcstows on the subject a mo-
mcnts patriotic thought The secretary
OF the treasury. from the first moment
that the necessity OF another sale OF bonds
seemed TO be approaching. desired 20 cffer
them II issued 10 the people by public ad-
vertiscment. IL they could thus be SUCCESS
fully disposcd OF. After full consideration
he came 10 the conclusion to which fully
agree. that the amount OF gold IN the re-
serve. being now s2O,OoO.000 more than II was
In February last. when a sale Of bonds was
made TO a syndicate. and other conditions
differing from those then existing. Justify
us in offering the bonds now about 10 be
lssuec Tor sale by popular subscription.
This y the entire matter. and all these rar-
ticulhrs could have been easily obtained
by any member or the senate by simple In
quiry.
III Mr.. Morgan, or anyone else, reayon-
Ing from his own standpoint, brought him
self T. the beiiof that the government
would. at length. be constrained 20 again
eel bonds 10 syndicatt, i suppose he
would have perfect right. II he chose.
10 take such steps as seemed 20 him pru-
dent. 20 put himself in condition TO ne
Kotiate
II expect an issue OF bonds Will be i'd
vertiscd for sale tomorrow. and that bids
VIII bs invited. not only for those now al
lowed hy law. but for such other AMI DIFF
fcrent bonds as congress may authorize
curing the tendency OF the advertisement
Not having had an opportunity 20 con-
Ter with you In person since the present
session OF congress began, and noticing
your participation IN the debate OF last
Friday. have thought u not amiss 20 put
you IA pos session OF the facts and iEfor-
inatio.i herein contained.
Yours very truly.
GROVER CLEVELAND.
Hon Donaldson Caffery."