The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-19
Senator Fairbanks and Representa-
tive Landis Said to Have Won Their
Fight I'm the HOosier's Behalf.
NEW BOND ISSUE POPULAR
ALL WILL BE TAKEN IN SUBSCRIP-
TIONS OF $500 OR LESS.
Many Deputy Internal Revenue Col
IectOrs Necessary-Knstructi as
to Sale and Use of Stamps.
Special to the indianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON, June 18-No one in au-
thority to speak by the book has said that
Gen. Lew Wallace will be appointed major
general but there is nevertheless very good
reason to believe that the President has at
length decided to confer the coveted honor
on the eminent author and hero. The ap-
pointment may not go in with the next
batch, but it will come along very soon in
all probability. Where General Wallace will
be assigned is one of the things yet to be
determined and the gossip that has in ad-
vance put him in command of one of the
great encampments is purely speculative.
General Wallace's friends made a good fight
for him. 1t was still hunt and every
body who could by any possibility know of
the campaign in his behalf was put under
the ban of secrecy and pledged not only not
to disclose the facts but to discourage and
divert suspicion as to what was going
Great work was done, nevertheless, Senator
Fairbanks taking the lead, and Representa-
tive Lands being a close second.
Indications point to the absorption of the
entire war loan by individual subscriptions
of $500 and under. In lots of soc each, this
means at the maximum 900 individuals
with whom the government will have to do
business. AS a great many of the subscrip
lions are for 500, and from that up to $780,
it is possible that the aggregate number of
individual subscribers will reach $780, 900. The
manual labor which this entails on the
Treasury Department is staggering Alto
gether between 2,OO0 600 and 900 separate
pieces of paper of one sort or another will
have to be handled by the treasury clerks
before the bonds finally reach the sub
scriber About two hundred additional
clerks have been employed at the depart
ment, and others are being added to the list
as fast as competent and experienced per-
sons can be found
No doubt whatever is entertained that in
dividuals to an aggregate number of 100000
will turn up with subscriptions sufficient to
roll up a total of $500, 100000. The new
per cents. are the most popular govern
ment bonds ever offered for sale. They are
put within the reach of everybody and
the investment is morally certain to yield
a profit of from to and possibly 10 per
cent there is good business excuse for
subscribing. Secretary Gage thinks that the
bonds will command a premium of or
per cent. as they find open public
sale, but others closely identified with the
bond market believe they will be selling at
ITO before many months 1t is the govern
ment's option to redeem the war loan in
ten years, but, inasmuch as $500 100000 in
per cents Will mature in 1907, there is little
doubt that the new issue will run for the
full twenty years. fact which adds to
the deSirability and value of the new issue
The commissioner of internal revenue has
been obliged to authorize the appointment
of between 700 and 800 deputy collectors of
internal revenue in order to promptly and
effectively carry out the provisions of the
war-revenue bill. Commissioner Scott to-
day made allowance for the salaries and
travelling expenses of four permanent and
five temporary deputy collectors for the
Indianapolis and for the Terre Haute dis
tricts. The pay of the deputies will be $1,000
and the allowance for expenses $500 each.
Captain Warren D. Fairbanks has been
assigned to the staff of General Harry
Smith, at Chickamauga, First Corps, Sec
ond Division, Second Brigade
Mrs. Fairbanks expects to return to In
dianapolis in q day or two.