The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1848-06-24
The NJ e W I, an.

The loan of sixteen millions of dollars, auho-
rlsed by Congress, has been taken at premium
varying from 80 to 3.8 per centum. we see no
great cause of clarifying ourselves over the TACT
The interest at six per cent. year Is high Tor cap
tai, and the investment is for long period and per-
fectly safe. But though we do not find much cause
of rejoicing on account of the government, yet the
fact that the credit of the country has been rising
since 1912 when money was borrowed at dis
count. till the present time, when capitalists are
eager 10 nav premium for the privilege OF lending
if at the same rate of interest and on the same sec
ry, shows the steady progress which good sense is
making the minds of the capitalists of the world
overturning the strong prejudices which they had
imbibed against republican institutions, removing
the doubts entertained of the stability of our govern
ment and disspating their delusions to democra-
tic honesty and punctuaty This improvement in
the intelligence of the money-lenders, promises just
now to be advantageous both to themselves and to
our citizens. Amid the commissions of Europe, pre-
sent and to come the surplus capital of the wealthy
classes will seek safe investments where it may be
beyond the reach Of confiscating governments and
plundering armies. England has generally been
the country to which the surplus tended. Her
insular position her powerful navy and the gene
VI quicbiue uI nave
pointed her out the safest place of deposit for the
continental surplus. 1t was this feeling, transfer
ring capital to her Shores which enabled her to
borrow the vast sums Of money which she expended
in the struggle from 1893 to 1885, and at the same
time to develope the immense resources inherent in
her soil and in her manufacturing industry But at
this day England is not the land of safety that it
was in by-gone times starving, disconnected
murnuring and half rebellious population at home !;
subject kingdom in state of legal and perhaps of
armed revolt; the facility with which steam navy
can land an invading army upon her soil, have
lessened the confidence of the money-power in her
condition and fortune. Under such circumstances
those who wish to their property seek other
countries in which to invest their means, and they
find but two upon the face of the earth, which
not in danger of invasion or revouion-Russia and
the United States. Stability is only found at the
two extremes of absolute despotism and unrestrained
democracy. Between the two the choice is soon
made. In Russia there is likely to be no change,
because the people can effect none-n the United
States there will be none, because not ten men of
its swarming millions really desires any. Capital
then will commence and continue to flow to the
United States, enabling us to clear our forests
cavate our canals, construct our railroads, work
our mnes and bring into activity all those bound
less sources of wealth which are to be found in our
soil, and in the intelligence, energy, and industry
of our people. The revolutions, connections, and
wars of Europe, will open new era for the pros
perity and greatness of America. No one can cal
culate the immense changes which this state of
things will bring about in very few years The
future is before full of hopeful promise, let us be
wise and improve the opportunity Let not the
country be utterly ruined by editors and orators
during the present canvass, and at may turn ont
some pumpkins yet.''