People's Pilot, Volume 4, Number 22, Rensselaer, Jasper County, 16 November 1894 — BONDS TO BE ISSUED. [ARTICLE]

BONDS TO BE ISSUED.

President Cleveland Wants the Gold Reserve Increased. Fifty Million Dollar* in Flvn Per Cent*. Will Go to the Highest Bidder— President Thinks the National Credit Demand* It. Washington, Nov. 14.—President Cleveland has practically given instructions to Secretary Carlisle to place $50,000,000 more United States bonds on the market to secure gold for the treasury and strengthen the government’s credit. When the news was first given out in Wall street Saturday morning there seemed to be no reason to doubt its authenticity. The story was confirmed Monday morning. Secretary Carlisle has been opposed to another bond issue. He does not consider it necessary, at least, for the present, to preserve the government's credit. The president, however, thinks it absolutely essential to add 850,000,000 to the gold supply in the treasury and in this as on several former occasions Secretary Carlisle has promptly acquiesced in the president’s policy. There is no personal difference between the president and Secretary Carlisle growing out of this disagreement on matters of party policy, it is said. The Deficit Growing. The gold reserve has been steadily but slowing increasing since August 10. Upon that date there was but 852,499,787 in gold coin in the treasury, while now there is nearly $62,000,000, an increase of $553,275 since October 81. At the same time the actual excess of expenditures over receipts for the fiscal year amounts to $18,940,642, and the deficit is constantly increasing. During the last ten days expenditures exceeded the receipts nearly $4,000,000. Can’t Depend on Congress. Now there is little probability that congress will be asked to enact any legislation to authorize the issuance of 8 per cent, bonds, because the experience of the administration has been that congress is too widely divided upon all questions of finance to pass any bills likely to afford immediate relief. Secretary Carlisle will, therefore, be forced again to issue 5 per cent, bonds under the law of 1874, and sell them at a premium, so as to bring the actual rate of interest down to 8 per cent., or as low as possible, li-'- Will Be.lssued at Once. New York, Nov. 1 . —According to 1 good authority the government loan ' will be issued us soon as the details ' are perfected and the circulars are ! printed, probably Wednesday morn- ; ing. The issue will be £50.000,000 of 5 per cent, bonds redeemable in ten I years, and no upset price will be fixed I by the government. Assurances ; have been received by the leaders in 1 the movement which warrants the as- i sertion that the issue will be largely ■ oversubscribed and bids will be on a ’ trifle better basis than 3 per cent.