The record-union., 1896-01-11
PATRIOTIC WORDS.
President Cleveland and His Just In
dignation.
he Denounces in Vigorous Language
Certain Statements About the
Bond Issue.

senator Canery of Louisiana makes
public letter of the President to him,
which, had opportunity presented since
Monday, he would have incorporated
in remarks which he intended to make
In the Senate on the bond bill. It is
dated the 9th, and reads:
My Dear Senator: 1 have read to-
day in the Congressional Record the
debate in the Senate on Friday concern
ing the financial situation and bond is
sues. 1 am amazed at the intolerance
that leads even excited partisanship to
adopt as basis of attack the unfound-
ed accusations and assertions of a ma
liciously mendacious and sensational
newspaper.
mo banker or financier, nor any other
human being, has been invited to visit
Washington for the purpose of arrang-
ing in any way or manner for the dispo-
sition Of bonds to meet the present or
future needs of the gold reserve.
No arrangement of any kind has
been made for the disposition of such
bonds to any syndicate or through the
agency of any syndicate. In point Of
fact, decided leaning toward a popular
loan and advertising for bids has been
plainly exhibited on the part of the
administration at all times.
Those charged with the responsible
ity of maintaining our gold reserve, so
far as legislation renders it possible,
have anxiousIy conferred with each
other, and, as occasion permitted, with
those having knowledge of financial af-
fairs and present monetary conditions,
as to the best and most favorable means
of selling bonds for gold.
THE unusual Importance of a sue
cessful result, if the attempt is again
made, ought to be apparent to every
American citizen who bestows on the
suject a moments patriotic thought.
The Secretary of the Treasury, from
the first moment that the necessity for
another of sale of bonds seemed to be
approaching, desired to offer them to
the people by public advertisement, if
they could thus be successfully dis
posed of. After full consideration he
came to the conclusion, to which 1 fully
agree that the amount of gold in the re-
serve, being now $20,O00,000 more than
it was in February last, when a sale Of
bonds was made to a syndicate, and
other conditions differing from those
then existing, justifying US in offering
sale by popular subscription.
This is the entire matter. If Mr..
Morgan or anyone else, reasoning from
his own standpoint, brought himself to
the belief that the Government would
at length be constrained to again sell
bonds to a syndicate, I suppose he
would have a perfect right. if he chose,
to take such steps as seemed to him
prudent to put himself in condition to
negotiate.
Il expect an issue of bonds will be ad-
vertised for sale tomorrow, and that
bids will be invited not only for those
now allowed by law but for such other
and different bonds as Congress may
authorize during the pendency of the
advertisement.
mot having had an opportunity to
confer with you in person since the
present session of Congress, and MOTTO
ing your participation in the debate of
last Friday, I have thought it not amiss
to put you in possession of the facts
herein contained Yours very truly
GROVER CLEVELAND"