The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-25


VerBmeni vii hardly ask another loan ths Session ~
congress IN the meantime, tina Secretary of the Tos.
hury VIII nave an opportunity Of testing his estimates
Snouid the receipts and expenditures for the last tres
quarters OF the fiscal year ending Juno 3d. Is4S prove
mora favorable than esmat the deficiency 10 carry
forward into the next year will be reduced The re-
pts ON account of mpo t. in other words from Gus
toms are at present likely to be less than estimated and
the expenditures will probably be less than for the pre-
vious year. in the event Of hostiltes continuing
so that the actual deficiency is likely be full as large
as anticipated II is therefore probable that loans for the
full amount will be required batween this and June 80
ls49 The Chairman of the Committee on Financ in tina
Senate stated that was the intention of the Secretary
OF the Treasury to draw the loan for $40 COO from
Europe He, no doubt, meant that applcaan would bs
made for bids from foreign capitalists that agents might
would be sent to Europe to negotiate the loan We
have doubt efforts will be made 10 negotiate the loan
abroad; and that the efforts will be successful there il
not the slightest question Events have recently trans
pred in Europe calculated to give great facilities for
negotiating loan; and the capitalists of England and OF
the Continent will, without doubt jump the prize Of
iered by the loan bill II will come at very OBJ
perfume moment for those who have capital to invest
and dare not invest 1t in any European stock Many of
the larg, capitalists Of Europehave doubt sold MANY
millions OF American securities since the change of gov
eminent in France, aud the dem and will probably in
crease as republican principles become extended over
Europe. The securities Of the general government of
the United States will b, much more sought after than
those of State governments and should not be sur
prised if nearly the whole of the public debt of this
country contracted and to be contracted to carry the
Mexc an war, ultimately absorbed by The wealthy
classes Of Europe Should the large capitalists England
negotiate the whole of the loan about being authorized
they would be able to dispose of every dollar at hand
some advance, to private individuals.
The destiny of this country has before been
clearly developed as within the past two years The
result of the Mexican war; thus far has given us cha
racter ard reputation abroad superior towhat ever
enjoyed before and there was previous the French
revolution, rapidly growing confidence in sscuri-
ties That event has made them superior to all Others
and they will be sought after much in Europe that
there will not be enough to meet the demand and
those in existence and about being created, will com.
mand high premium This public securities of Great
Britain are by no means upon very solid basis; the
political movements the Continent elevate and de-
press them large per cent, aud there is fevershness
about them by agreeable to those holding and
depending upon them for subsistence Upon tho receipt
of the intelligence in London from Paris, that Louis
Philippe had abdcsted, consos fell three per cent and
if the revolution has extended itsef to other parts OF
Europe, shall find consols lower than they
American securities not affected in this way po
ticsl revolution from end Of Europs to the other
would tend improve the value Of securities rather
than dspress them. Political movements within cur
own limits have influence upon prices for government
stocks there danger of any change taking place
in form Of government calculated to depres their
real value. Independent Of this, our stocks pay
bser per cent interest and in respect much
more desirable investments than sny public stock of any
other country in creation We understand this perfect
y well in this country and European capitalists will
| econ BIS forced into the .ction.
1t has recently been admitted by the most bitter viii.
fer Of this oeuntry that there is not the slightest doubt
that every regulating and delinquent State in the
Uaon viii intimately pay every fraction Of the princi
pal of their ndsbtedness with the full interest," and Il
even that there existed in Its opinion
doubt upon that period This from the scurc; to which
We alluie is acknowledging much more than
pscted, but not iota than what Is true Those
who have Investigated resources have been
able to ress. tbs conclusion that few years will suffice
place this country in state of prosperity far superior
tina. previously enjoyed reached by any
| IL,