[Notes]
THE unexpected success of the recent sale of $ I00,000,000 of bonds for gold with which to replenish the diminishing old reserve in the Government 'l'reasury gives rise to reflections of opposing sorts. The fact that the price obtained for a "coin" bond was much higher than that secured from the Morgan Syndicate in February I895, evidently implies a greater general confidence in the stability of our gold standard. The peculiar circumstances under which this sale of bonds has taken place, the loan being the dernier essort of the administration, after Congress failed to do anything; the sagacity in making the offer of bonds appear to be a "popular loan," but really supported by strong syndicates -all advertised the sale as has seldom been the case hitherto. Every holder of gold in the land knew of the sale. This had much to do with the large subscription. But the prospect of a large oversubscription became known a day or two before the sale, and helped to raise the prices bid.
- DOI
- 10.1086/250344
- Volume
- 4 (2)
- Pages
- 240-242
- Language
- en
- Export
- BibTeX
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- semanticscholar openalex crossref