The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-01-15
CLEVELAND TO CAFFERY.
President Shows the Attitude of the Ad-
msnistration.

President shows the Attitude of the Ad-
ministration.
Washington, Jan. 11.-Senator CAT
fiery. of Louisiana, has made public
letter of the president to him which.
Lad opportunity presented since Mon
Gay. he would have incorporated in re-
marks which he intended to make in
the senate on the bond bill. threads:
Executive Mansion. Washington, Jan.
s, lsss-My Dear Senator have rea1 to-
bate In the senate on Friday, concerning
the financial situation ard bond ISSUES
am amazed at the Intolerance that leads
even excited partisanship to adopt as
basis of attack the unfornded accusations
and assertions o. maIiciousiy m.nda-
-ious and sensational newspaper
NO banker or fnancIer, nor any other
human beng. has been invlteo to isit
Washington for the purpose Of arranging.
II any way or manner. for the disposition
Of bonds TO meet the present or future
needs Of the gold reserve
No arrangement of any kind has been
made Tor the disposition of such bonds
TO any syndicate or through The agency of
any syndicate
No assui ance of sucn a disposal of
bonds has been directly or indirectly given
10 any person. In point Of fact. de- :ded
Using for lids has been plainly exhibited
on the part OF the administration 4 all
times when the subject was under discus
sion
Those charged with the iesponsi bility
of maintaining our gold reserve, so far as
legisla lion renders IL possible, have Snx
.ously conferred with each Other, and as
occasion permitted with those having
knowledge of financial affairs and present
Inonelary conditions, 10 The best and
most favorable means Of selling bonds for
gold The unusual Importance Of a sue
cessfD result, If NE attempt l. again made
ought to be apparent to every American
citizen who bestows on the subject a mo-
mems patriotic thought The secretary
of the treasury, from the first moment
that the necessity of another sale Of bonds
seemed TO be approaching. desired to cf'er
them II issued to Ihe people ty public ad-
vertisement. If they could thus be success
fully disposed OF. After full considera ton
he came TO the conclusion to which fully
agree, that the amount OF gold II the re-
serve, oeing now 81, On. 90 more than IL was
in FEBRUARY last when sale OF bonds Was
made to a syndicate, and other condirio
differing from those then existing, Justify
US n Offering the bonds now about 10 De
Issued Tor sale by popular subscription
This V the entire matter. and all these Tar
ticulsrs coulQ have been easily obtained
by aI.y member Of the senate by simple in
2uiry.
If MIR. Morgan, or anyone else, reason-
ing from his own standpoIn brought him
self u the belief that the gCvernn' emf
wouio, at length. be constrained to again
sell bonds to a syndicate, 1 suppose he
would have a perfect right, If he chose,
10 take such steps as seemed TO him pTu-
dent, 10 put himself II condition 10 Ne
gotiate
Il expect an issue Of bonds Will De ad-
vertised for sale to-morrCw, and that bids
vii r.r fAT NJ IL
lowe1 by law. but for such olhel ana diff
ferent bonds congress may authorize
curing the tendency of the advertisement.
Not having had an opportunity 10 con-
fer with you in person since the present
session of congress began, and noticing
your participation il the debate of last
Friday, have thought II not amiss 70 put
you Ii pos session of the facts and iLtor-
tnatio:i herein contained
Yours very truly,
GROVER CLEVELAND.
Hon Donaldson CaffeIy.
Washington, Jan. 10.-Secre1ary Car
Isle expresses the opinion that the new
bond issue viii be a success. He did
not intimate whence the guild would
come, but he spoke with full knowl-
edge of the number of inquiries for
blank forms for bids and the informal
offers already made. The mails brought
in quite number of inquiries for blank
forms on which to make bids and, in
some cases, persons DESTROYS of sub
scribing stated the amount they wanted
and the price they would offer. These
figures, of course, are withheld from
publication. The bids are regarded as
informal and where possible, those
making them will be communicated
with and blank forms viii be sent 50
that they may comply with al the re-
ouirements and make their bid in reg
ular shape. A circular1etter of instruc-
ton to prospective bidders was issued
Thursday. 1t says:
the subscriber should state plainly the
amount Of bonds desired the price which
he proposes to pay and the pace where
the bonds should be delivered, which may
be the subscriber s home or any other more
convenient place. He snould, al the same
time, state whether he desires to dcI.osir
the amount Of his subscrIption at the treas
ury department II the CITY of Washington
Ut at one of the following subu easuries,
viz: New York, Boston, Philade phia
Baltimore, Cincinnati, Chicago, St Louis,
New orleans or San Ere ncisco- Deposits
at said places must be with exchange on
New York. The bonds viii be issued in the
following denominations VIZ. Coupon
bond so, 800. $500 and 81 900; registered
bonds, $50 500. $780, SlOO0. $1,000 ano SD, Ooo-
SHE UNsENDS.
Great Britain Changing Her Tone-Arbi-