The times., 1898-04-28
The NbR REVENUE BILL
Nr. Gage Discusses Financial
Legislation With Bankers.
TIE PROPO 5ED POPULAR LOAN
New York Finnnciers FnvornbIy
Disposed Towards the Measure
and Predict That 1t VIII BE Sue
cessfuI-The Money Stringency In
cidentaIIy Mentioned.

New York, April 27.-At a meeting be-
tween Secretary Gage and representative
bankers of this city, held at the sub
Treasury this afternoon. the pending war
revenue bill, which carried with it au-
thority for the Secretary of the Treasury
to issue $500, 600, 600 of per cent coin
bonds, TO be offered as a popular loan,
was talked over. The meeting was held
in the private room of Assistant Treasurer
Jordan, who was present 1t lasted from
till after o'clock
Mr.. Gage had come to the sub-Treasu-
ry in the morning and had talk of for
" minutes in Mr. Jordan's room with
James Speyer. Later he took lunch with
Mr.. Jordan at the Lawyers Club, where
he was joined by l. n. Selgman. The
meeting of the bankers followed Mr.
Cages return from luncheon 1t was
made evident to Mr.. Gage by those pres
ent that the banking interests represent
ed would endeavOr 10 make the proposed
popular loan n thorough success.
Regarding the purpose of the meeting
Secretary Gage made the following
statement after the bankers mad gone:
The object of my visit to this city was
| to attend The dinner to be given tonight
by the trustees of the Grant MonumenL
Fund. but being here, ] thought I would
like TO hear what local financial men lad
to say about the financial legislation row
pending in Congress / had no questions
to ask tacm. nor any Droposi'ions 10
make. ] merely desired TO get such in
formation as they might choose TO give
! for my own guidance All of them eX-
| pressed a kind interest in the proposed
! popular loan.
They expressed the conviction that the
! loan would be success and stated thai
! they would, so far as lay in their power
cooperate in making it successful"
'Is it true you are in favor Of certain
bonds?"
Il am not in favor of raising any issue
at the present time which would be a
cause of distraction or difference be-
tween those who hold different financial
! theories. This is time when the so
| called gold or silver men should neither
of them take advantage of any public
! eXigency to coerce each other. That is
! the reason | stand in favor of the cOir
bond. There was absolutely no difference
/ in the conference as to the correctness OF
/ the new revenue bill. The money strin-
! gency was incidentally mentioned, thai
! is, its firmness was talked of and com.
mented on.
| To a question as TO whether there had
not been some objection made by bank
ers TO the > per cent rate of interest, Mr.
Gage said:
| Il believe there was some objection of
| the part of two or three, who believer
the rate should have been 3 - per cent
! but in the light of the present events
| think they are now satisfied that the
| per cent rate is correct
| What amount of bonds will be issued p
Until the bill passes Congress ! can
not say anything on that point. 1t wa
the general opinion of the bankers tina
S2D0, coo 000 would be the proper amount 70
the present. AS 10 the 'sinews of war,
they are ample al the present time"