The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1907-11-22
MEASURES OF RELIEF
Government to Issue Bonds
For Sl5O,OOO,OoO.
TO PAY FOR PANAMA CANAL WORK.
RooseveITs Letter 20 Secretary Of the
Treasury COrteiyou says l""'
Country's Finances Are on
"snfe and sane" Basis.

WASHINGTON, Nov 19.-Secretary
Cortelyou, with the approval Of the
president. has announced an issue oil
Panama bonds to the extent Of S7o'-
100000.
The treasury will also issue Interest
hearing certificates Of Indebtedness
10 run for one year, TO the extent II
necessary Of SlOOOOO,OOO. This action
is the result Of the series OF many
night conferences at the White House
Fifty million dollars OF the cerilii-
Gates will be allotted by the secretary
in his discretion upon offers OF sub
scriptlons addressed to him, and the
remaining S5O.OOO.OOO will be allotted
through the several assistant treas
urers authorized TO receive suhscrlp-
tions at the following points:
San Francisco. New Orleans. 81
Louis. Chicago. Cincinnati. Boston bal
timore. Philadelphia and New YORK
and through the treasurer oi the INT
cd States at Washington.
II is expected that this will enable
the Government to tempt from their
hiding places millions Of dollars which
have been boarded by persons distrusl-
ful even Of national banks.
In n letter 10 Secretary Corlelyou
President Roosevelt says:
"Wbat is most needed just at pres
ent Is that our citizens should realize
how fundamentally sound business
conditions in this country are and no"
abAurd II is TO permit themselves tC
get into @ panic and create a stringeh
ev BIZ boarding their savings instead
Of trusting perfectly sound banks
..rbere is no particle Of risk involved
in letting business take its natura
course. and the people can help them
selves and the country most 10y put
t,na back into active circulation th'
money they are boarding. The oanN
and trust companies are solvent IheI'
ia more currency in the country toda'
than there was n month ago. when IN
supply was ample. over Soo'V0o'VV
has been imported, and the govern
mont has deposited another SG0,OoO'VN
These are facts. and appeal to th
public to cooperate with MS In resioI
inc normal business conditions.
@Tbe government will see that Oh
neople do not suffer if only the pee
nle themselves will act in a norma
wav. Crops are good and busines
conditions are sound. and we shout
put the money we have into clrcuia
tlon IN order to meet the needs q
Astounding prosperity
The treasury circular inviting pro
possls for Panama canal bonds read
as follows:
"The secretary Of the treasury oifer
10 the public S50OOo,oOO Of the BOND
Of the Panama canal loan.
"The bonds will bear interest at IN
rate OF 2 per cent per annum. VIII
dated Aug 1. 1906, and the intere'
will be paid quarterly on the first day
OF November, February, May and Al
aust They will be issued in demon
nations Of $50, 500 and $1,000 Of cor
non bonds and Of 500, Sl0O $1,000 an
! $4,000 Of registered bonds,
: "They will be redeemable IN Unite
States gold coin at the pleasure Of I'd
limited states after ten years from Il
date OF their issue and will be payab
n thirty years from such date.
"They Will be exempt from all tax
. or duties Of the United States as We
. as from taxation in any form by
under state, municipal or local author
~ They VIII be available to nation
banks as security for circulating note
|, They viii be receivable, like all otn
n United States bonds, as security It
/. public deposits in national banks.