Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1839-11-02
Letter to the editor of the Fort Wayne sentinel.
New YoRK, Oct. llth, 1889.

Letter to the editor Of the Fort wayne sentinel
New YoRK, Oct. llth, 1889.
DR SGR--I reached here yesterday in the
Liverpool after bosterous passage across
the Atlantic of Il days; and truly feel CRATE
ful to that kind and oyer-ruhng Providence,
that has thus extended protection to me,
in renewed health, to return to my beloved
native country.
You are undoubtedly advised of the fiifi-
Guilty and disasters in the money matters Of
both countries. Here found them much
worse than ! had anticipated brought
bad news cnough-but found much worse
here. In England | think there will soon
be better state of things; and even now
good demand exists there for one of our
great staples-hour. 1t is very true that the
Bank of England has overt-aded, and this is
disastrous, now that large amounts Of bull
ion have to be shipped to the continent to
purchase bread stuffs, and their bad crops
will cause this TO be continued. From one
to two hundred millions of pounds sterling
have been of late years, abstracted from
commercial purposes for Rail Roads and
other home improvements, and iH American
stocks for like permanent investments. Yet
there is an abundance of capital in England,
but it is seeking a higher rate of interest.
Formerly capitalists were content with 4
and 5 per cent: now they will press for 7
or 8, and hence it is Withheld. The great
demand for money in America, and the i'm
prov,dent issues large amounts offs c
bands, tended to produce this expectation.
| A prudent course on the part Of Indiana, /
hope, will enable her to procure money next
spring to complete her most important public
works, and connect the interior of the State
with Lakes Erie and Michigan, and the
Ohio river.
made known to the distinguished house
of Barring, Brothers s. Co. of London, my
suggestion to make our loans this year in
England, and they assured me that in the
months Of April and May last, this could
have been done: that in these months they
negotiated large amount per cent stock
at "a, adding exchange of 10 per cent, ma.
king 1O4; enabling them to make a saving
OF 4 per cent,--that at any time prior to the
first of June last, they could have made the
same disposition of Indiana stock, and re-
gret that the million and half of dollars ap-
propriated by the Legislature for Internal
improvements for the current year. had
not been early secured in that market.
These remarks occur to me, as have the
unwelcome information, in a letter from my
brother, "that the whole of our public
works are suspended, there being no money
to pay the estimates" SC. MoLey, l think,
may hereafter be procured, but at some
higher rate of interest than heretofore; and
some sacrifice had better be made than per-
NIT our great and most important thorough
fares TO remain unfinished. In England, |
observed that the stocks of the principal Ca
mails and Rail Roads: the great thorough
fares, such as from London to Liverpool,-
are above par, some double the cost, and
that they divivide from to 10 per cent;
while the minor and local ones are much de-
preciated, and produce but small dividends.
The same is true in regard to the New
York public works--and when this single
handed policy is pursued, and the great and
paramount interests OF State first provi-
del for, the credit of such State is more
apt to be sustained. Mulberry, sugar-beet
and all like wild speculatons will not now
answer.
am gratifed to learn that the good peo
pie of Fort Wayne county have enjoyed
comparatively good health this summer, and
anxiously desire again to be among them
and ohe of their number. After seeing
some of the old w orld, my native county is
more dear and more delightful to me than |
have language to express; and after allow
ing for all the little political and financial
ups and downs we are troubled with, yet
the contrast presents us as the most pros
porous and happy nation on earth. We are
blessed with liberty, and an abundance of
all the comforts of life, whilst others are
bowed down by tyrannical governments,
and beggared and starved by taxation and
oppression.
The New York banks are resolved not to
suspend specie payments. This delightful
city is truly the London of America, and
unequalled in its great harbor and splendid
situation by any European city. e.
LAMRNTABLE OccURRENCE--Four per-
sons drowned in Lake Michigan.
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