Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-10-11
DOMESTIC.

DOMESTIC.
american Credit aJroad-It is far from being plea
SAINT duty to refer TO the evidences which now so re
peatedy meet the eye Of the very low estimate IN whcf
American credit and honor are held by the people o
Europe. The whole country stands dsgraced by the
failure the part oseveral of the States OF the Union
their solemn obligations their credItors-foi
the people Of Europe regard Us only as citizens OF the
American Union, and not as New Workers, Maryland
ers, Mississppians violation of public falth on
the part OF one members of the contederacy
therefore blot upon the good name Of all Although
here ut HON" we may be slow and reluctant TO realise
this truth, the evidences which quote below are
quite sufficient to show that in the eyes of others the
honor of the nation is deeply furnished. II is right
that should understand position because we
think when il is properly realised such course of ac
ton may be adopted us will speedily and forever wipe
out the foul blot
The London Morning Pos, of the 9Th September, in
its money article for the day has the following }.
marks-Bait .4merican.
"There was news of importance in the moneyed
circles TO day. but the funds generally upon the
advance: and that such should be the case more
than natural, there is no investment TO be found for
aptal otherwise than in the public securities, unless
it be rate of interest which offers little temptation
10 parties seeking employment for their moneys With
many there is, in fact, just other but
to 90 into stock, overlooking is the state oftle
ney market 1t is complained by some Of our leading
men of business, that the miserable rate Of two
per cent for loans is not TO be obtained Coupled with
such complaints, the expression of hope is INDUCED
in, that outstanding the great difficulty of placing
out sums on moderately advantageous terms, the ef
forts made the part Of the nsolvent foreign Stales to
effect some additional borrowing in the English mar
ket may result in disappointment The U. $. and Pc.
ninsular Governments among the foremost in the
rank of applicants, but so gross have been The fnnn
cal proceedings Of the whole Of them that to look to
England, they would appear to do for revival OF
The confidence they have thought fit TO abuse, is
mockery not 10 be quietly tolerated. The Americans
may we'll proceed at to the discharge OF the dvi
dends on their foreign debt 1t would PROFESSIONALLY
be good policy TO do SO, to say nothing The obligation
attaching to the matter
.'Thr has gone by when the public were to be led
asiray by the names of great contracting houses
Such firms evidently still looked 10 by foreigners
as a pretty sure medium for accomplishing the objects
aimed at. They will not, however, succeed. Like
Spain and Portugal the Americans have, by their dis
honesty, stripped themselves of the valuable privileges
they long enjoyed as borrowing States An anomalous
spectacle is exhibited in the case Of the three
TONS Money is to be had in every requisite abund-
in the London market, at rates not exceeding or
u per cent at the utmost. Each of them is candi
date for further accommodation, and the most able ne
goliators employed for the purpose of procuring It,
yet neither is held 10 be trustworthy for additional
shilling. Such condition of things is surely that
should edd to little sober reflection, and change Of
syse that will nd to the restoration of public credit
here Indicated"
The following letter is published in the New York
Journal Of Commerce Of Thursday:
"LoSpoS, September eth.
"The complete syncope Of trade in the U. S. has at
traccd universal attention In The days of their glory,
when we first sold them goods, and then lent them
money pay for them, the Americans cut sucha figure
in the public eye, that their present disappearance
"frrm the things that be, seems quite unaccountabe.
1t is talked of even by The casual acquaintance one
meets in the reading room of watering place. No
doubt that Of these have had the misfortune to
hold State Stocks or U. 8. Bank stock; and the repu
dation of the former and the Unprecedented swindng
Of the latter have created the very general impression
that the country must be inhabited chiefly by thieves
Hence the asonishment at the arrival Of messenger
from the General Government 10 negotiate loan. IL
seemed as if the convics Of Botany Bay, who had
been transported for picking pockets had sent out one
Of their number, after serving out his time 10 propose
loan In vain the people that, till within the
last FIVE six years, the Americans were just as ho-
mes, as their ghbors; can find no one TO believe
ne They say, look at the South American States;
embarrassed by long civil war, and stepped in power
", they never talk of regulating their debts. When
they could pay little, they paid that little; and fully
acknowledged the sacred obligation TO pay the rest
soon as possible. The Americans Alone Of oil man.
kind, borrowed freely, and then refused to pay moi
from inability, for they had ample means but from sheer
"Wn, shall reply to this' for confess am rather
stunned"