New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-07

.Tba neonle will demand that these bonds shall
he maid even at a considerable premium Delols
ten years. and probably within five years anu
will execrate the men who nave pou,'' INV
hand and foot for thirty years 10 come. 60
Chairman Cannon. Of the Appropriations Co in
mittee took a different view Of the mater; I,e
said LAS understand it, me proposeu ss n,ac
arrangements substantially looked toward piac
ing the bonds in the United States: II these
bonds were now ready for delivery and the r""i'
try understood that thev could be hah TOT iIy ~,
I'D which s below the market price for slnilar
h,nds | have no doubt the banks woulu 'ahe
them to increase their circulation USING tie
gold IN their vaults t. make payments. l n.y.
thev Will do So as the bonds run for thirty years
and can no doubt be bought on 3 per cent p"ai.
and would yield a small profit to the Dai'NS '''
circulation on that basis. ,v,,s
and Means said he considered 1t good tnLiE
that the Administration had adopted ms nlrtnou
and ne thought that the eject OF inns d"Nt'
,is.r,.nt for bonds ought to be t. secure the
PROMPT passage Of the House bills through ~. ~
Senate He did not have any DOUBT ap1u' tne
offer being promptly responded to ny p'us ",'"
our OWE people. He was pleased tnat lnr 70
minlstraton had been driven to ABANDON l,e
contract system, and said that lis apdhu'il .,
was = practical acknowledgment OF the MISTAKE
OF the former sale ,r-., and
Representatives Patterson OF lenheSser. niu
cobb Of Missouri who are among 'ne -,
and most active and loyal supporters q thr Au-
minisraton in the House bolh eNIleSSF Si, o,r
opnion that the popular loan Would DE- "l"i
and that Ne bonds would finally haN' 10 pe HD''
al nrivate sale Mr.. cobb said that ne was very
n',,rh nIeasod with the course of the President,
but that he believed that the president va.
right In the opinion that private SAFE was M.
adv,ntage,lls IL WAS right. however. 70 "ncl
Tho bonds I'm this way. and the result. b" tnousht
would be a vindication Of tn course Oh ,ne ~"
ministration in the former TRANSACTION. inr p '
ple who want popular loan. n" SAM W'"'' ~"
have to fish or cut bait. They nave tn' '"ah''
to make good THEN criticisms Mr. fa'terso"
said he ala ~, think Il popular Loan wa pIa,
III. re
course was wise however inasinuch aS II "oulr
relieve the Administering from criticism. III"
matoly the syndicate would fct tl' p,l."s. vi.
Another Democrat. Nh Bartlett. ~ NV eFk
clearly recognizes and fully appreciates the Ih'l
that what the Government needs more thah any
thing else at this tim' II suinci'nt revenue L"
ma H.. current cxncnscs. We declared that Con
gross ought to take measures 10 III. F'aS' '"'
revenues % The Government, although ne "P
proved Of the action Of thc secretary u w
Treasury In making bond sales UnHrf ,he -.
cumstanccs "Wthout discussing Wh"thrr me
revenue FOR any one day n one monih 'N'er"S
the expenditures h. said I'll seems Gear I'D M
,h,. ,ur revenue il not adequate for the puD.r
.xpenditures that sh1ui bee made. mat Is '"lN
ing out ~ consideration all appropriations i"i
public buildings var claims. private GAINS an"
special pensions. II IS lie duty 90 congress !"
any event - construct prope' coast d'''h''S
build new hattc-shiis. Increase m" Navy ana
bring the Army mp % minimum Iur.e 'l "o,'v'
enlisted men However. ! do not believe con
gress will pass revenue bills and am In favor
~ creating gold coin and gold bullion tuhd "l
fund sacredly devoted 10 the redemption of the
grccnhacks. Ill.,,
De,nnc,,ti. REPRESENTATIVES. contends tnht
n.lther A new loan nor an increase o. rcreru" Is
necessary and j. opposed % np.n pr positions
He said TODAY. hoWsVci. ihat T. hNhlo W'r" 10
b.. issued IL wouil h- much better i' give tn'
,eopl. an opportunity - bu, them than @ enter
into private contract with a s'ndl'at" 10
bankers
Mr v Niuin ~ Tenn es.oe. who is also mem
nor If ir. WAYS and Means Committee, said
substantially tine same thirg
SENATORS NoN-roMMITTN.
Senators dlI mo-, seem disposed 60 talk about
the bond call Issued o, Secretary Carlisle. Demo
crau- Senators generally Were non-commiiiaL
Senators Harris ana Vest both member "f the
Fiuanc, . mm!'tce. said that ,n"y bad not read
the call and had nothing 600 say. senator Cor
man said the call was an right AMI wa. 10" same
AZ the first two bond issues bs iAls NdinlniS''h-
ton senator Moiull. chairman - in" FINANCE
Committee. said That there WAS i'NIhF I" ~
about the cau that Il spoke ffr iisel' senator
Teller rali ne was grailcd that IN" il'sil'h'
had decided upon popular Ian ana h' n'i ~
doubt the people would respond I'm a way - Jus
tify thc course decided upon Mr. I"llr. ana no,
believe that the entire sum oi N''V"''' ash'H
fIr would be necessary For himself Dr." dld n't
consider that any bonds were orninl d. ana ~
thought that even from the Presidents p I'M "l
view smaller sum than Sloooj1'" would be
sufficient
ON March l. 1885, the public debit Of the United
State including certificates and Treasury notes.
aggregated 81 Soil 0gN ana on January ]. $3.50,
the public debt. including certificates ana Treas
ur, notes aggregated Sl69334sl3J or an lncreAs"
II SIPS 23gn3t ON March !. 1885, thr general casa
halanco 80 ihe Treasury was Sl2i0nrol. ~ Wii'h
800 900 oOD VAS In gold. and on January J. l''n,
the general Treasury balance was Sl,NwOWp. o'
which t63 O0DooD was I'm gold. Since July l. ~.
and up 10 January ]. 1896. three ana a mar years,
the expenditures NJ the Government nave "N-
ceeicd the receipts IN round fgurc' 10y SlE 0oo0"
Orders were today given t. Fhirf Johnston. ~
the Bureau Of Engraving ana frintiug. 10 pre-
pare the distinctive paper FOR the printing o' IN"
new issue Of bonds As all the plates ar" ready.
all that will bc necessary VIII be Ia print the race
of the bonds when II Is known how many of "afh
denomination are wanted.
The Treasury gold reserve to-day stood al the
close II business with all Withdrawals out. al
t1.35l.S26 The Withdrawals to-day amounted to
$3.50 600