New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-10

serve had been ns hccn aemandei part of whish
was taken out and ai,erward retnIne rass,opaton
~ conaIence resulting from the fact tHae ~ s,res
came generally known to Tx pun OF the
were about 10 be taken TOT ''c
rcServe. ss withdrawals were duo almost entirey
Ihese ,a's ,,,d he ascer,aneL TO feeling OF ap
80 a,sion in the public mind espccalIy Sions nJ
holders OF securities abroad, w,o rrearhed the
II, Of a panic in the financial cchtreI me
It vas evident 70 all Who were ,r', We're promptly
TAKEN to cheek the growing dstr iety Sa e 70 sus
mont would be compelled %l,nt ~, silver and paper
s,anaard More than si3,ooo0e OF the a,Ioned was
drawn u uidn55 Cor eyn9rt but taken out by Pr
ple who had become seriously ,ns na In ,ts rela-
y, ,h ritlcal condition OF The Treasury III Ia,inn
't .' ,he currency OF the country Tne @
was 30 grave that the attention Oh from the
fs rId to ' of the United States January 2 s
Mr. Carlisle quotes from Tresuen' go
message in which he recornmendt '"'' ' lama
tarv OF the Treasury should he au'h"' "u ~ 80
smcscent bonds 10 maintain the gold reserve anu "
redeem and cancel the i'b"' "
notes. and continues: lila,
Congress failed 10 pass any measure lor 20
Of the Treasury. 10 take any ACTON Js In the
ailay the serious apprchensons trh Tvas en-
@nmh'ic ,nlrd and Consequently contract "n r-eh
tered into 10y the secretary 81 the "a ~ New
rr,rv ( 1856 with August Hclmont 80 % v
VIZ on behalf Of themselves and McssIs, "a A.
Rotaschd oi' On ' behalf OF themselves ard s
Tc,ran x co. OF London. FOR the purc nr,cc OF Of
- 1870 ,,ce 70 be paid for hy the delivery OF
I.r,,c5 s,lics bonds having thirty years 70 'H hn
ana sg ,e5 M p'r S g States subtreasuries
rc IA. n-ns %. this contract not les ''r" NJ
hnt q ac 'o 'o wi wa. .naie stipulated ial tney
Would 'as ,ar lee in the:r p2Her ~, a. 80 DO.
.l' INV e.r~ ~ tn United State az ms we
wi,hsrawa;s Of gold yeni!ns ne ro'"pr'el RI eolI
N S r % t 81. o ard netencc he IN ,b
ard ne c9nraci PRE- ' t' 6c The bonds
yeng the price at which the bonds were a. 49, ~
SCI % X his prte ,h'y y,y wS4d y'F'd 10 II" ~
In order tia; Congress might be me e., ihc
possible oppor,.n'y 10 "a" n,oa bcnSicAi 70 the
sus' ln a. thc Prcsicn, q TIE rrisd Safs
30, = ,hc contract -aaenitnl sl ca ~ ner
,aklny & ,..4s.s TO ~f*r'hcf4lt p"N't' a.. Tor
| SeS, eoM bSnl. which wol.I cHcei 'n'hS OF o'''
a. ', o-,s intfl.'!c,i IN the loufc - Repf"scn'a.
,iycl 10 authorize the suhs, tuition OF - Te
| h,nls paynble IN Rol. Tor he per SeA' n.S anj
INV tho paroles proceeded 20 Compel" ~.
,ran.actlon by the exchalE" O., gold ior per ~
si .., TIC agreruieut 10 the parties 81 he sec
md part ,fli hoy would. as FAR AS n tn'r
~ ,~ he ,r-1,rn nce ~ the contact was f'ith-
i.H-''Hn f rR,'.r,iy carried OI'. ami 10 ~ va.
~, ron no Treasury 90 - uaei IN iaYlng i,'
M bon. 80 h ' , i1,. 10Y shpm,a, nn;
a,.r tho delivery OF gold IN exchange Tor b'N'' ""'
S'$r ,r,e ,ar, o. tho sd had hcen frilsac
from ah,.,d the Secretary. In orfsr Z" -,
\ -, ,n-.a erl .rc1.e condition when ""uIU
force vo.d exports and Sor-'GI'n' Wl."urnM' ~.
,ric.rfI In "A departure n IN me ti'lA g. -
curcl ab.ohl and accepted I"i1"is OF lo'' !"
| t.'i in TINS country 20 compete the delivery.
R.f,-r,,g ~ the Presidents urgeat f'Gn''' -
| financial legislation. IN his rnnna. message u ~
cemher % 1885, and the failure OF congress 10 a.
| ,hcr.on Mr. Carlisle comes down 10 the '"'l '''"
~ hond. under the circular % January D. 'S'o c'''
| ing FOR subscriptions u 100000 % per cents
sneak.rg generally of the various issues t"' Se0'S
| iary -
| owing IN the Encouraging condition Of our man
| ct,l .r,irt arl the orzcqucnt lack OK comm
| !, mo Utility ~ the Government l"rWai;"nuN .
= maintain "A reserve under system o. I' y, y,
me- I'd s,c ~ notes very considerable dlficuit
VAS encountered IN enectng the lpa" i"Nl''" -,
! Inc PROPOSALS 81 January T. 1874. ana AZ ono VII,
rcndng the cali st was feared NAT ihr t.,,
Fan However. owing - eNtrf"fnii,''N ~. ~
ma. during ihc last two or three days pT.'epll
,hr ,lmc when tho bids were - y" opened siu
scripiinns FOR tho whole amount were s'cuf''. "
| pebrunry 9 isol was made. tho emergency was
. pressing that the whole purpose ~ tnr ''ih NVu'
have been defeated 4 the r"nlentnin,' 81 ne ~
4 serve had been postponed for suHe'-'' I'nHIn
5 | ceeiingly doubtful whether. under me cireiM ~
= | a,ance, uny sales could have been made 70 u
. general public upon a. favorable terms ms 20 ~
| rate OF ,ntercs, were secured by TINT cohtrac
y Replying 70 tina. part OF the Sennie resolution
= | which directs tho committee 20 investigate an
ronort uh,t cfrcc; the bond sales had on the cred
Q and business of the people % the tniioi states,
y were necessary for the preservation OF the cred
~ | ~ Tho Government and the security or the 9us
= ness interests Of tho people ana thar they. IN rae
> | accomplished those results