The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1907-11-20
Enormous Sum for Relief Provid.
ded by Uncle Sam.
WILL MOVE THE CROPS
United States Government to Issue
One Hundred Million Dollars in
Certificates of Indebtedness and
Fifty Million Dollars of Panama
Bonds as Means Of Affording Re-
lief to Financial Situation,
lief to Financial Situation.

| Noiiuo 40 a AcanS Oh aHOrQlnG Re
lief to Financial Situation.
Secretary Cortelyou Sunday nigh
made the important announcement
that, as means of affordins relic,
to the financial situation, the treas
ury would issue $4,000, 900 of Pan
ANA bonds and s1O0,O0O,OOO certi
Gates of Indebtedness, or so much
thereof as may be necessary. The
certificates will run for one year and
bear 3 per cent. interest.
The secretary's action in coming
to the relief Of the financial situation
meets with President Roosevelt's
hearty approval, and the plan is the
outcome of several White House con-
ferences which nave been held within
the past few days when the financial
situation was under consideration.
Secretary Cortelyou says that the
Panama bonds will afford most sub
stantial relief, as the law provides
that they may be used as a basis for
additional bank circulation. He also
states that the proceeds from the
sale OF the certificates can be made
directly available at points where the
need is most urgent and especially
for the movement of the crops, which
he says s'if properly accelerated will
oi,-o tho oraotoo+ ra1;af o,J rac,1- -,
the most immediate financial re-
turns. The secretary calls attention
to the attractiyeness of the bonds and
certificates as absolutely safe invest
mentS.
Proposals Asked For.
Secretary Cortelyou adds that
these relief measures will enable him
to meet public expenditures without
withdrawing for that purpose any ap-
preciable amount of the public mon
eys now deposited in national banks
throughout the country. Two treas
ury circulars one inviting proposals
for the issue of bonds and the other
asking for subscriptions to the certi-
fcates will be sent out under date of
IS. The bids for the bonds
must be submitted to the treasury on
or before November 80, 1907.
Each bid should state the amount
Of bonds desired by the subscriber.
whether coupon or registered. the
price he is willing to pay and the
place where he desires to make pay
ment, whether at the treasury of the
United Stated OF the Office of some
of the assistant treasurers at New
York, Baltimore, Philadelphia, Bos
ton, Chicago, ST. Louis, Cincinnati,
New Orleans or San Francisco. All
bids should be addressed to the sec
retary of the treasury. division of
loans and currency and the envelopes
them should be plainly
marked bids for Panama Canal
Bonds.
The certificates Of Indebtedness
will be issued il denominations OF
$50 They will be payable to bearer
will be dated November 20, 1907.
and will Lear interest at the rate OF
per cent. per annum, payable with
the principal sum on and after Nov
ember 90, 1908, on presentation Of
the certificates for redemption at the
office of the secretary of the treas
rry. division of loans and currency.
Subscriptions will be received by
the secretary of the treasury direct
or through the treasurer Of the
United States and the assistant treas
urer located at New York. Baltimore,
Philadelphia. Boston, Chicago. St.
Louis. Cincinnati. New Orleans, and
San Francisco, beginning on Novemt
II and continuing at the discretion
the secretary Of the treasury.
In his letter to Secretary Cortel-
YOU approving the treasury plans.
President Roosevelt states that he
has been assured that the leaders in
Congress have under consideration a
currency measure which will meet
in permanent fashion the needs of
the situation and which I believe Will
be passed at an early date after con-
gress convenes two weeks hence.
The president also calls attention
to what IS needed most at this time
is that the people should "realize
how fundamentally sound business
conditions in this country are, and
how absurd it is to permit themselves
to get into q. panic and create
stringency by boarding their savings
instead of trusting perfectly sound
banks.