The Caucasian. (Clinton, N.C.) 188?-1913, 1896-01-16
CLEVELAND WRITES A LETTER.

| no OouIcs AnAI moro WAS ANY lar
rangemsnt" with . Syndicate, but Ad
mits Conferences with Those Hxvins
knowledge Of Financial Affairs and
Present Monetary Conditions"
EXECUTIVE MANSION, WARRINGTON
Jan. s, 1S96.-My Dear Senator:
have read to-day in the Congressional
Record the debate in the Senate on
| Friday concerning the financial situa-
ton and bond issues. l am amazed at
| the intolerance that leads even excited
partisanship to adopt as 4 basis of at
tack the unfOunded accusations and as
sertiOns of a maliciously mendacious
and sensational newspaper.
No banker or financier, nor any other
human being, has been invited to visit
Washington for the purpose of ar
ranging in any way or manner for the
disposition OF bonds to meet the pres
ent 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.
No assurance of such a disposal of
bonds has been directly or indirectly
given to any person. In point of fact,
a decided leaning towards a popular
loan and advertising for bids has been
plainly exhibited on the part of the
administration at all times when the
subject was under discussion.
Those charged acith the responsibility
OF maintaining our gold reserre, 80 far as
legislation renders 1t possible, hare anr-
tously conferred arith each other and, as
occasion permitted, with those harino
knowledge Of financial affairs 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 upon
the subject a moments patriotic
thought.
The Secretary Of the Treasury, from
the first moment that the necessity of
another sale Of bonds seemed to be ap-
preaching, desired to offer them, if is
sued, to the people by public ADVERTISE
ment II they could thus be successfully
disposed Of. After full consideration
he came to the conclusion, to which I
fully agree, that the amount of gold in
the reserve being now $4,000, 900 more
than it was in February last, when a
sale OF bonds was made to a syndicate.
and other conditions, different from
those then existing, justify US in offer
ing the bonds now about to be issued
for sale by popular subscriptions.
This is the entire matter, and all
the particulars could have been easily
obtained by any member Of the Senate
by simple inquiry.
II Mr.. Morgan or any one else, reas-
Onlng from his own standpoint.
brought himself to the belief that the
government would at length be con-
strained to again sell bonds to a syn
dictate, l suppose he would have per-
feet right, If he chose, to take such
steps as seemed to him prudent to nut
himself in condition to negotiate.
l expect an issue of bonds will be
advertised for sale tomorrow, and
that bids will be invited not only for
those now allowed by law but for such
other and different bends as Congress-
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 participation in the de-
bate OF last Friday, have thought it
not amiss to put you in possession of.
the facts and information herein con-
tanned. Yours, very truly,
GROVER CLEVELAND.
Hon. Donelson Gallery.