Show THE BOND BUSINESS How the Treasury Scheme Strikes the Public Now York 12The Times on the treasury circular The conclusion at which the secretary Ot the treasury seems to have arrived ii one which is likely to receive the general approval of the conservative con-servative portion of tbe community Tbere is still some discussion by peons who should be well informed I t whether tbe bonds to b sold should b 4 per cents or 4U per cents Our infonaa tion is that it is only the 4 per cent which can be used in this manner I i one of the favorable features of the poIcy of Windom that it leaves the business of the country time to accommodate itself t the action of the department and introduces in-troduces no extensive and unavoidable change in the situation The Tribune I may b added that his prudence and action in maturing his plans are evidence that his steps will Qe taken with care and wise conservatism DJ XUU OV ifr UJMfcVC44 JL11U UUllW of the administration u announced t anounc evening created considerable surprise I is simply an experiment It Deans the calling of all the six per cent bond depending de-pending upon the banks to help the treasury by turning in their six percents per-cents which amount to 140000000 With this and 35000000 of surplus revenue expected by July 1st it is expected I ex-pected that in any contingency the 5104 000000 of four and half bonds would make up every necessity became I enough bonds are always delayed in presentation to let the now expected surplus revenue fill the gap and the deficiency could be provided fir temporarily tom oiner moneys in the treaiury I is believed by President Garfield and Secretary Windom that the treasury will not be culled upon for over 10000000 in money to meet this whole demand and it is i intended that if this experiment is successful to call the 5s also in the batch All depends however I Upon whether the matter succeeds under the circulars terms That will be determined bY May 10th and if there i any trouble about it there can beau be-au extra session of Congrest t pass a funding bill I has seemed ueslionablo whether such a aeme would be legal but taking all considera lions together and the fact that there is nu law either for or agaicEt such a proceeding eding the attorneygeneral gave his opinion that no law would ba violated by doing i hence the bold step This ac lion must live in history 8 Cromwellian r a to war measures in our finances It was so unexpected th5t all wondered bntit i now through and many large banks bave already expressed a belief ta an be done which fact gives firmness fo prompt a action that mi t8 H ntende sweet ago |