The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-01-10
NN''bhN' y AihtiN'll.
Washington. Jan. 3, 1876.

Washington. Jan. 8, 1896
My Dear Scna.or:-I have read to-
day IN the Congressional Record the
bate in the Senate ON Friday concern
ing the financial situation and bond
issues.
| am amazed at the intolerance that
leads even excited partlsanship to adopt
us Il basis of attack. the unroundcd ac-
cuSationS and assertions of q malicious
~ mendaciOuS and sensational news
paper
No banker or financier. nor any other
human being has been invited to visit
Washington for the purpose OF arrlnE-
inE IN any way or manner for the dispo-
Sition of bonds to meet the present or
future need of the gold reserve
No arrangement Of any kind has been
made for the disposition of such bonds
10 any syndicate or through the agency
of any syndicate.
No assurance of such disposal OF
bonds has been directly or indirectly
given To any pSrson. In point df fact
decision leaning towards Il popular
loan and advertising for bids has been
plainly exhibited on the part OF the adj
miniStratiou ut all times when the sub
ject WAS under discussion.
Those charged with the responsibility
OF maintaining our gold reserve. so far
as legislation renders II possible. have
enXiously conferred with each other,
and as occasion permitted with those
ana present monetary conditions, AS to
the best and NEST favorable means Of
selling bonds for gold
The unusual Importance of a success
ful result If the attempt is again made,
ought to he apparent to every Ameri-
can citizens who ibcStowS upon the
subject moments patriotic thought
The Secretary of the Treasury from
the moment that the necessity of an
other sale 5f bonds seemed to be ap-
- La p..I -, ,,fr \, "a
sued u the reoplc by public advertise
ment if they could be disposed Of thus
successfully. After fun consideration
he came To the conclusion. IL which
iully agree. that the amount of gold in
The reserve being now $40 900 900 more
than it was in last February. when a
sale of bonds was made to :: syndicate te
and other conditions differing fr7n
those then existing, justify us in offer
lnS the bonds now about to be issued
for sale by popular subscription
This is the entire matter, and all
these particulars could have been easily
obtained by any member rf the Senate.
by simple inquiry
II Mr.. Morgan or any one else reason
lnS from his own standpoint brought
himself 10 the belief that the govern
ment would at length be constrained
to again sell bands to IL syndicate, |
suppose lie would have Il perfect right
II he chose TO take such steps as seem
ri 20 nm prudent to put himself in con-
ditiEn To negotiate.
expect an issue of bonds will he ad-
vcrtsicd for sale tomorrow, and that
bids will he invited not only for those
now allowed by law but for such other
and diiftrcn: bonds a.s Congress may
authorize during the pendency of the
advertisement.
Not having had an opportunity to
confer with you in person since the
present session of Congress began, and
noticing yonr participation in the de-
bate OF last Friday. | have thought it
not amiss 10 put YOU in possession of
the facts and Information herein CON
tanned.
Yours very truly
GROVER CLEVELAND
Hon. Donaldson Caffrey. 1884 Nine
teenth street, N w.