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Show iu st kew rivr: pta czsr. bonds. Tii'j f.cr:jUry of the Trca.;i.ry is grealiy aided in his funding operations opera-tions at t'.. present time by the re-viv.tl re-viv.tl t.f tf e theories in political circles viiiich prnp3es to pay th ( principal of the 5-A mtional bunds in ureenb kcks instead of gold. Whatever What-ever may be the doubt in reference to the meaning of the ordinal act creating these securities, this tin- 1 certainty cannot attach to the new 1 issues authorized, for which the ( .) 2iJ'g are now being exchanged. Thetjo new bonds are made payable in gold, principal and interest. The d inclusion of the question at this time had given new activity to the! funding operations, and Secretary Bristow appears to be pushing Ida opportunities to a r.ijidly fs p'tii-ble. p'tii-ble. Agents of the Tituoury Department have recently gone to Kurope with pome millions of the new live per cent, bonds, and the Secretary pmpmes to call in immediately im-mediately tii'uty millions more of the 6-i.'0 six per cent, bonds. In reference refer-ence to the propoei-d cxuliango a London financial pper of a late date says: Tw h-M-i-r- of PiwTw.-nti.'s haTr liidy jbIo '.M, or m la-t b.-comff p.n-irnsi'l p.n-irnsi'l of American bornJt, and lliat tlmy I'.nitimn) to liol'l, arffUPF conlidenct! in !liJ ei-ciiritv: the Ur-tion for tburn ia whi'ther they witl take tbo money wliieh Jnrtly will be tli-u-t up-m lh'!:n with which to seloct fonie other invprtraitt, or take a brlter bona at a redm-td rate of intt-refrt. 'I he reason the I ew Pivef are boll-.-r has utlijii bcim ujplaiitd in thii circular, but brieily, it may be statwl---!. Thai nil doubt aa to repayment in coin.i.- removed. '2. All doubt as to tho powur of taintion (;ihrsr by th i United S:aU:6 nr by Iho iu-'ii iu-'ii vidua! States U removed. 3. A more pdy and a more convenient payment of interest. Theso considerations, coupled with tho pf-rm anency, are advantage which to many, counterbalance the high niter -jt. The day .of exorbitant interest rates and big stock dividends has passed away in this country, not to reappear until the occurrence of Eome new linancial convulsion. Hereafter our business enterprises will proceed moro slowly and legitimately, but none the less surely. If the administration of tho General Government can be placed upon an honest, responsible and economical basis, and tho meddling med-dling politicians in oflico who now disgrace the American name replaced by men who can appreciate the fact that they are one and all merely the clerks to carry out the will of the people under the constitution of the United States, the government will have no trouble in obtaining all the money it needs in Europe at an interest of three per cent, per annum, aud no questions will be asked as to whether the principal or interest are to bo paid in paper or go'd. for one will be as good as the oilier, if it bears the stamp of the United States. |