Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1846-11-09


THE Secretary oi the Treasury has put Wall
street IN ga npnsr by his advertisement Tor
'"sn oi ftuc millions III dollars, for which, sum
W proposes tn iss,sc sir per ccut. stock rc.
de""sh'e go ten yeats. This movement has
HAD an effect upon all fancy stocks as they
aIc tcrnc'l, sad has reduced their market "A.
Tue "n''cT an impression that the necessities
ct the Government will render the money
naiA"t very PrccauouS, perhaps severely PIES
s''d' "s The t"nks must resort TO measures of
protection, which they cannot do by tr,stin.
themselves M tie hemls ui and subn.ittinr ,o
the Tender mcrcies' al the Subtrasnry.
! take ', ior grsnted that YOU will feel some
anxiety iuknow VIVA, the capitalists OF this
lV"t 'himk OF say ou the subject vi the loan a.
k~l hy tie Secretary There is but one opin
r'n 81 To the POLICY oi requiring the amount
"i Tie subscription to b. paid Into the Sub-,res-
s"fli sid that l., that IL il uuwiss., and will
Prove empsitsssiug, u not injurious, To the
uoNetn"rnt. IL smouuts. IN tact, To- rcaui.
siuon oa che banks for the whole amount al
TIE loau va SPoctc IL j. true the Sub treasurer
may receive the amount, until the LIST of Jan
u'p, in btuk notes. but what ol THAR The
n-Nl lay alter rec,iving thcse notes he may
s'ni aud draw the specie ior them. Il IL, then,
rfubabl" that under such circumstances the
h'nhs viii lcnd ihcir dealers money To sub.
scuD' Toe L. States stock should thnk not;
"iiu ~ iaf ~" 6oNcrnneut Will b. injured, in
asin'ich a. the sale ot the stock will b. par
'i'l'y defeated. THIS = not only my opinion, but
the opinion OF Intelligent bankers
! The ,ru- policy Tor the Secretary to pursue
would have beeu to take that course which
would not have embarrassed either the public
or the business transactions OF the country
10 accomplished that object he should have or
dcred The subscription To have been paid into
The dePosite bauks, and given the banks an as
surance that the money would be drawn from
them only a. u was wanted to meet the Gu
gSgements of the Government. II such had
been the proposition of Mr.. WALKzR, hazard
nothing IN saying The loan would have been
promptly taken at a tnflc above par, aud all
excitement on the subject would have thus
been avoided.
There IL an opinion.i in Wall stree or rather
attempts are making 10 create such al opinon,
/ that the loan was taken before the Secstar,s
publication. This tale l consider worse than
,idiculous. The Secretary is Just beginning 10
ieel the nony pressure. The people q mean
the money lenders have not forgotten IN. las;
war; and, remembering IL. will not lend their
money until they know what amount will
probably be wanted, aud what interest IN "
are io receive tor IL. BY some il ~ said that
the shortness of the time allowed for su5scrip-
ton indicates that the loan has been fakea.
Not 80: II Indicates the rather pressing neces.
stiles at the Government.
And now what are prospects in New
lork!--Will the be takeni Aud il taken, on
what terms anl condiiionsl have taken
much pains this morning Ia ascertain. as lar
ss Prlcttcdble,a true answer 10 these questions
ibe loan may be taken; but wheIhcs il will is
matter at doubt with thos,. best informed on |
the subject; aud, II II is taken, il will b. in |
snali sums; generally as matter oi spccula-
tlon, aud in the hope ha, much more willnot
b. wanted Tor This war. The bidding will h.
a, par to one per cent. above par. Much may
drpcni ON what Boston will DO. Ii is thought
they viii not oiieI above par
The Money article in the ". Y. Courier OF
Tuesday has the following Paragraphs Oh the
subject OF the Loan:
We do not see very clearly where the money
wanted 10y the Treasury il to- come from, in
ne present condition Of affairs. There iscsp-
lloi enough ia the country, and by the bye IL |
Is wen understood now that the whole reli.
ancc Tor money must h. on domestic cspital-
Tor Europe will not take our stock at all Rut
ior ioreign conquest aud d war of aggression
There would b. nodsposition to lend this cap
llo', 81 IT were not that our army ~ now in
lorelgn land and must b. sustained. There
lore We hope the money will be forthcoming /
here H. however, general impression that |
u the war were at once terminated, the |
wants OF the Government would greatly ex-
cred It's revenues and require considerable adj |
dltional loans, which will operate 20 deter |
bildcfs tor this first loan--cScept upon oneT-
Gus conditions.
During tic last war some Of the contract
ofs lur the early loans made IL condition of
their bids tina, II any bids lower than their
own we've accepted, theirs should be consider
eel as made al llsc same tate, aud this condi
ton WAS accesled to by the Treasury II made
applicable not only 10 the present losn, hut
To eny iuiure loans, as ia the instance referred
To We believe IL was, IL creates an interest in
| The lender directly adverse To that OF the Dor
fo"cT--and makes the depreciation of new
stock the gain oi the subscriber TO the old
What tlc course Of the present head of the
treasury Department may he ia the event at
Ike oiirrs-Ii any bc made now--we venture
moi to conjecture. but We imagine there will
b" buds such as are here descTibed
| lhcadvcTiiSement oi the Secretary gives no
iniornaiion a. Ia where. aud ia what sums,
| Tie money viii bc rquircd--noT IL il az spec.
/ itc as u ought 10 b. In other particulars, in
oder Ia enable lenders TO bid adyiscdly.
! Another point - left ia doubt by this adyer-
ti~incni, which, nevertheless isa very impoS.
iant one that -. az To the opening 81 The bids
The only iaif way is that all tile bids should
~ ""''' "i'tti stat qua uldl INC seals should
only u" broken OF an hour named on the 9Th
Novemhrf tihe day 20 which bidding is lmi.
ted "a prrssncs OF the bidders or their agents
OIhrrwise II the bids are opened a. they are
received, thc nature OF them may leak out
= even without susPcciing or impuling any dis
honest motive OF OnuiNauCc--and thus par
tics tying back 10 the last moment may gain
an advantage by becoming possessed Of the
knowledge OF wha, other bids are. aud fashion
their bids in coniofnity--lhus defeating ob.
'iousiY the very purpose OF advertising for
bits.
/ OCEAN STEAM NAVIGATION Tn,
Bermuta Royal Gazette, OF the 6th nit. con.
iaius thc following la relation TO the Atl,oti,