People's Pilot, Volume 5, Number 3, Rensselaer, Jasper County, 11 July 1895 — HELP FROM RUSSIA. [ARTICLE]

HELP FROM RUSSIA.

The Late Czar Would Have Helped Us Keep Up the Gold Reserve. Washington, July 10.—Recent discussion ih the press of the gold reserve in the treasury and the action past and probable of the Morgan-Rothschild bond syndicate recalled to a man familiar with most of the inside history of the Cleveland administration the fact that Czar Alexander 111. of Russia bn re offered to loan the United States all the gold necessary to maintain the reserve at any figure desired. The friendly tender was declined by the President, because, after several weeks of consideration and deliberation, and telegraphic correspondence back andforth between Washington and St. Petersburg, it was decided that the president had not the authority to issue bonds or otherwise incur indebtedness on behalf of the government. Since then the power of the President and the Secretary of the Treasury to issue bonds has been determined, and if the offer were repeated by the present Russian ruler it might be accepted.