New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-18
PROPOSED POPULAR LOAN.
HOW MONEY WILL BE OBTAINED TO
MEET WAR EXPENSES.

AND A. T HUNTINGTON. OF THE TREAS
TRY pEPARTMENv-Ir WILL BE
EASY FOR EVERY ONE TO
BUY THE BONDS
Washington. April Il (speciaD.-The number
Of bondhoders in the United States Is likely
soon to be increased. In case a war loan be-
comes necessary the people will be given the
widest opportunity TO subscribe. While Con
gress has not yet placed upon the statute books
any act authorizing an issue OF bonds In any
form. It is known that the plans are TO make
the proposed bond issue popular loan" in the
widest and fullest Of the term.
Congress has. OF course. given author
ity in the matter of war loan" said Assistant
Secretary Nanderlip. talking upon this subject.
but you safely say that the intention
everywhere is in case loan becomes neces-
spry. to give the greatest possible facility for
the masses OF the people to become holders OF
these bonds The bonds Will presumably be in
sums OF $50. ard multiples thereof. and will be
available TO any and all who may choose TO
send checks. drafts. money orders or any other
device for transmitting money. or who may
prefer 10 deposit the money with their bank
ers or a sub-treasurer in their vicinity. The
bonds undoubtedly will be offered at par in
sizes and quantities T. suit all BIDDERS, and every
citizen who desires TO assist the Government
in raising money or who desires to invest his
money and become bondhoder. will have full
opportunity"
But suppose the subscriptions exceed the
amount OF bonds offered" was asked.
Then the small bidders Will have the first
preference. Our desire and in this am sure
that everybody in authority Joins. is that bids
Of $1,000 and under shall he given the prefer
ence in the distribution OF the bonds. and that II
1t Is necessary to scale down the bids, that
process will be resorted to only In the larger
bids. We desire to give every citizen the great
est possible opportunity TO subscribe TO any
bonds which 1t may become necessary to issue.
and especially 10 those who desire 10 subscribe
in small sums. thus making the issue In the
broadest sense popular loan"
Two conditions which now exist in regard to
the finances OF the United States render a
popular loan more available and likely TO be
more successful than on any former occasion.
The fist ~ these is that there Il more money
in circulation than ever before. was pointed
out in these dispatches last week. In a state
ment which showed that the money In cl--
cuation has increased by S2i6OOOOD since TIE
date Of the Chicago Convention 81 lS96. the
second Is the fact that all classea Of money
now in circulation are equally good. and tina;
therefore II Will not be necessary. "a on former
occasions to discriminate with reference 10 the
kind Of money which shall he offered FOR IN"
bonds. while a still further convenience for
making this popular" loan is found In the
fact that the number Of National banks.
through which subscriptions can he made. ana
the number ~ money order Offices AT WHEN
postal orders NAV 10 obtained. have been great
Is increased since the earlier bond issues were
offered u the public.
1T has always been tho practice of the
United States" said \. r Huntington. CHIEF
Of the Currency and Loans Division OF the
Treasury Department. talking upon the subject.
"to give the general public an opportunity 70
subscribe TO it, loans. Going back 20 lS6l. the
first war loan. which was for $50 13o0 600 was
negotiated first with the banks. but az the same
time the people were invited for period ~
thirty days. 10 give In their individual sub
scrlpiions 10 tho same fund. the understanding
being that the money received from the people
should be reimbursed - the banks on account %
their advances.
Every war loan. and every subsequent loan
negotiated hy the United States down 20 tho
SG2.OM.OOO Of per cent bonds nv the last Ad-
ministraton. was offered to tho public. that Is.
any person having funds 20 invest could 20 TO
n bank. deposit tho coin NJ tho Treasury or
with some assistant treasurer. or. in certain in
stances with designated National banks. and
IN that way subscribe 20 the current loan.
The financial conditions % the country and
the necessities ~ the Government have hereto
fore obliged the Government to exact coin IN
each exchange for all bonds which Il has sold
since the close - the war 80 that that specific
form Of money has made II not altogether easy
for the average citizen 10 make subscription;
SIN. tho Department has always done the best
IL could 20 give every body an equal chance.
Now, owing 10 the present conditions. II IS not
going to be difficult FOR the Government 70 ac-
cept any form 81 money account Of sub
scrlptions. therefore bank checks and money or
ders we'll different kinds OF money viii
be equally available and in that way the people
will have facilities FOR subscribing that they
have not had heretofore