The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-06-19
The Sixteen Million Loan-Investment In
America of Foreign Capital.

publlshed In yesterday paper telegraphlc
statement of the various bids that had been ten
dered for the new United States loan of sixteen
millions of dollars. The bids We're opened at
three O'Clock on Saturday; and it reported
that the greater portion of the loan, fourteen
millions of dollars, were taken by Corcoran and
Riggs, the government brokers at Washington.
for themselves, and the Earrings of London, at
premium of more than three per cent We give
the particulars of the bids for this loan in
this days paper.
few years ago the United States government
wished to borrow few millions of dollars
The loan was hawked through all the cities
OF Europe; and. strange to say, there were no bid
ders. Now, how different the case is, The repu-
diation of her State debts by Mississippi brought
discredit on the whole country-State and federal
The people of the old world could not, or would
not, distinguish between State loans, and loans
contracted by the United States government
Now, however, we apprehend, the difference is
understood; and, besides that, the stocks of Eu-
ropean governments are considered very precarious
investments at the present time. The conse-
quence Is, that by far the greater part of the loan
of 1S4S, has been taken by foreign capitalists.
What commentary we would like to know, will
the London Times make on this transaction! A
few months ago went into details, and showed
most conclusively, that the stock of the United
States offered to foreign capitalists more induce
ments than the stocks of any European govern
ment; and we ventured to say, at the time, that
those capitalists would thereafter, turn their at
tention to this country, and Invest their funds here
rather than risk them in purchasing the stock
of the bankrupt governments of Europe. We
choxyed copclusivaly that
Europe was bankrupt, and that its stock was de-
pendent on the maintenance of order and tran
quillity for its value. short time after
that, the French revolution occurred. and
we reiterated our opinions The London Times
made severe comments article de-
MED the accuracy of our views, and treated the
assumption that English capitalists would prefer
American stock to that of any European govern
ment, with derision. We wonder what it will
say now We laid clam to no particular shrewd-
ness in the remarks which we made on those occa-
sions. 1t was evident to any person who was ac-
quainted with the past history of this country and
was familiar with our government and institutions,
thatthe government OF the United States is the most
stable and most responsible government in the uni
verse. We cannot ever get into debt beyond our
ability pay; and the London Times itself has re-
Gently stated, there is desire TO change nsti-
tutions. There is hardly man from the RIO Grande
10 Maine, who, if deliberately asked his choice,
would not prefer continuance of our present in
sttutions than change TO any other form; and we
may add, that there Is not man in the same
breadth of country, who would not be willing to
shed his blood in defence of the existing order of
things. Hence arise the responsibility and sta
bihty of our government. We have passed through
our revolution; Europe is yet TO pass through hers
Europeans could not, or would not, understand
this heretofore; but the truth is now coming home
to them.
This, however, is only the beginning Of the new
order of things. The 1othschilds took all they
could get of the last loan and the Earrings have of
this. We would not be surprised TO see the exam
pie of these foreign capitalists followed by other Eu-
ropean bankers, and TO American stocks
sought after at premium, and taken in preference
those Of any other country, If the latter are
al heavy discount Thus go up, up, up
while others go down, down, down.