Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-01-18
THE BOND ISSUE.
President Cleveland Writes q Caustfo Let
ter I'm Regard TO Published Statements.

President Cleveland Writes q Caustio Let
ter I'm Regard TO Published Statements.
WAsHINeTON, Jan 1O.-The debate
on the Elkins resolution in the senate
last Friday when the administration
having entered into an agreement with
3 syndicate to float the expected issue
Of bonds is the subject of letter
written by President Cleveland to
Senator Caffrev, of Louisiana. It Is,
in full as follows:
ExECUTTvB MANSION, WASHINGTON D. C.,
Jan. s. 1s96.-Mr. Dear Senator: I have read
to-day in the Congressional Record the debate
In the senate On Friday concerning the hnan-
cial situation and bond issues. I am amazed
1t the intolerance that leads even excited par
tisanShip to adopt as basis of attack the
founded accusations and assertions OF ma
GciouSly mendaciouS and sensational news
paper.
No banker or hnancier, nor any other human
being, has been invited to visit Washington
for the purpose of arranging in 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
for the disposition of such bonds to any Syndi-
cate or through the agency OF any syndicate.
No assurance OF such a disposal of bonds has
been directly or indirectly given to any person.
In point of fact decided leaning toward a
popular loan and advertising for bids has been
plainly exhibited on the part OF the admins
tration at all times when the subject was
under discussion.
Those charged with the responsibility of
maintaining our gold reserve, so far as lsgis-
lation renders it possible, have anxiouSly con-
ferred with each other and as occasion per-
mitted with those having knowledge of
financial affairs and present monetary condi-
lions as to best and most favorable means Of
selling bonds for gold. The unusual impor-
lance OF successful result il the attempt Ia
again made, ought to be apparent to every
American citizen who bestows upon the sub
5ect moments 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
offer them, II issued, to the people by public
advertisement, il they could thus be success
fully disposed OF. After full consideration he
came to the conclusion, to which fully agree,
that the amount OF gold in reserve. being now
$50 900, 900 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, justify US in Offering the bonds now
about to be issued for sale by popular sub
scription
This is the entire matter, and all those par
ticulars could have been easily obtained by
any member Of the senate by simple inquiry.
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 Syndl-
cate, suppose he would have perfect right,
if he chose to take such steps seemed to
him prudent to put himself in condition to
negotiate.
expect an issue of bonds will be advertised
for sale tomorrow, and that bids will be in
vited not only for those now allowed by law,
but for such other and different bonds con-
gress may authorize during the tendency of
the advertisement
Not having had an opportunity to confer
with you in person since the present session Of
congress began, and noticing your participa-
tion in the debate of last Friday, have
thought it not amisS to put you in possession
of the facts and information herein contained.
Yours very truly, GROVER CLEVELAND.