Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-11-18

achieved IL each man will act as he
normally does act and as the real con-
Editions of the country's business fully
Warrant his now acting.
Sincerely yours,
THEODORE ROOSEVELT
Upon receipt of President Roose-
velt's letter of appeal today the fol-
lowing statement was issued by the
secretary of the treasury department:
THE available cash balance of the
treasury, amounting to $24O,l56,34l.
is, with the exception of small work
ing balance, now on deposit in national
banks in every state in the union, thus
placing it where il can serve the needs
of the people SO far as possible under
existing laws
The secretary of the treasury, with
the approval of the president, has an
nounced an issue of Panama canal
bonds to the extent of s50,000,0O0.
He has also. with the approval Of
the president availed himself OF GER
tain provisions of the law applying to
/ the Transactions of the treasury de-
partment in an emergency. These
provisions are contained in Section 32
/ of the act of June 13. 1898, authoriz-
ing the issuance of interest bearing
certificates of Indebtedness to run for
one year Certificates bearing 3 per
cent interest will be issued to the eN-
tent, if necessary. of 500, 600, OOO.
Bonds VIII Afford Immediate Relief.
"The Panama bonds will serve as a
measure of most substantial relief, for
among the other things the law eX-
pressly provides that they may be used
as a basis for additional national bank
circulation.
Provide Money TO Move Crops.
''The proceeds of the sale of certih-
Gates provided for under the above
4 ufV, Ion
ly with the purchase upon approved
security They can be made directly
available at points where the need is
most urgent and especially for the
movement of the crops, which, II prop
erly accelerated, will give the greatest
relief and result in the most financial
returns. The acceptance of subscrip-
tions by the secretary OF the treasury
will be made with special reference to
such use.
Both the bonds and certificates are
attractive as absolutely safe invest
ments.
"These measures will, among other
things, enable the secretary of the
treasury to meet public expenditures
without Withdrawing for that purpose
any appreciable amount of public
money new deposited I'm national
banks throughout the country"
CorteIyOu Calls For Bids.
The treasury circular inviting pro-
posals for Panama canal bonds reads
as follows:
Treasury department. office of the
secretary, Washington. Nov. Is, 1907. |
THE secretary of the treasury Of
fers to the public $5O.OOO,OOO OF the
bonds of the Panama canal loan, au-
thorized by Section of the act ap- |
proved June 2S, 1902. and supple |
mented by Section / of the act of
December 21, 1905. Both acts are
quoted below:
The bonds will bear interest at the
rate of per cent per annum, will
be dated August. 1906, and the inter-
est viii be paid quarterly on the first
days Of November, February and Au-
gust They will be issued in denomin- |
ations OF $40. $100 and $1,000 of
coupon bonds, and Of $40. 500, $1,000 |
and $4,000 of registered bonds They /
will be redeemable i'm United States
gold coin at the pleasure of the Unit
ed States after ten years from the date
of their issue and will be payable
thirty years from such date. They |
will be exempt from all taxes or duties
Of the United States as well as from
taxation in any form by or under state,
or local authority. They |
will be available 10 national banks as
securities for circulating notes upon |
the same terms as the per cent con-
soils of 1908, to wit: The semi-annual
tax upon circulating notes based upon
the said bonds as security win be one
fourth of | per cent. They will be
receivable like all other United States
bonds. as security for public deposits
in national banks. |
The law forbids their sale at less
than par and provides that all citizens
Of the United States shall have equal
To subscribe therefor.
"In pursuance Of the above announce
ment. the secretary invites bids for the
bonds heretofore described which
must be submitted to this department
on or before the 30th Of November.
1907. Each bid should state the
amount of bonds desired by the sub
scriber. whether coupon or registered
the price he Is willing - pay and
Ihe place where he desires to make
payment--whether at the treasury Of
The United States or at the office Of
some of the assistant treasurers at
Baltimore. New York Philadelphia.
Boston, Chicago. ST. Louis. Cincin-
natl. New Orleans or San Francisco.
All bids should be addressed to the
secretary of the treasury, division Of
loans and currency and the envelopes
enclosing them should be plainly
marked bids for Panama canal bonds
Upon receipt and classification Of
The bids hereby invited the successful
bidders will be advised OF the accept
ance of their bids and they viii
be Instructed as TO the date upon
which payment is desired to be made
Al the treasury department or some
OF the United States.
I'm considering bids. the bidders Of
fering the highest prices will receive
The first allotment. OF two or more
bidders offering the same price those
asking for the smaller amounts OF
bonds will receive priority In the allot-
ment The department reserves the
right TO permit bidders offering the
highest price to Increase the amount
II their purchases.
For the sake of uniformity the
bonds will be dated August ]. 1906.
which Is the date of the outstanding
Panama canal bonds. but interest on
he bonds Of this issue will begin Mo-
rember !. 1907. and bidders will be
required to pay accrued interest on
heir bonds from that date TO the date
II payment.
THE department also reserves the
right TO reject any or an bids n
deemed To be To the interest Of the
United States 50 70 do.
The bonds will boz ready for deiiv-
sry upon receipt Of payment there