Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1848-06-23

The LOAN TAKEN.-Our readers are aware
that the Secretary had advertised for loan OF
Is millions of Dollars, at 6 per cent interest.
This loan, of rourse, is made simply and solely
on the faith of the u. S. Government. There
is no man in the country who will not reJo'ce
that the credit of our Government now stands |
higher than at any anterior period in our his
tory. The Bids" were opened on Saturday
last. The Washington Union of Sunday
morning gives the result. g The sealed propo-
sals," says the Union, ''for the loan OF Sixteen
Millions of Dollars, were opened yesterday,
at O'Clock, by Mr.. Young. the able and wor-
thy chief clerk of the Treasury. in the presence
of the Secretary, of the heads OF bureaus, OF
the principal bidders, and spectators, in the
large entrance hall of the Treasury Depart
ment The time taken up in opening and ar
ranging the bids was more than two hours
The total amount bid was S3G, 1893, lao, nearly
every dollar at premium. The whole loan
was bid for in the name of ;" Corcoran & Riggs,
for themselves. Barring Brothers & Co of Lon
don, and Others" at premium of So 2-1OO,
the premium offered by them above par a
mounting to $4S3 200 They were the high
est bidders for about s14. ZOO, 900; the remain
ing So 900. 900 bringing premium ranging
from 3-1OO TO 100. The total premi-
um realized is about half million of dollars.
When we compare this result with the loss of
forty-six millions of dollars by discounts on
the government loans during the war of 1912,
, as shown by the Committee of Ways and
Means in their reportto Congress of 1880, and
the sale of one and three-quarter millions Of
) dollars of our United States six per cent. twen-
ty years stock at loss, by discount, of p per
|, cent. as late as 1912, in time of profound
) peace, the premium of half million of dollars
realized on the present loan must be subject
: of universal congratulation by men ofaU par
ties throughout the country.
ave perceive, besides their numerous other
! correspondents and customers, that Barring
2 Brothers & Co., of London, and others, are
associated with Messrs. Corcoran & Riggs in
, their bid. So far as the loan is thus taken on
foreign account, it would OF course tend to
: change the current of specie. and to cause a
e reaux of gold and silver to the country. Mr..
Secretary Walker is most fortunate in having,
: by postponement of seventeen days, succee-
= ded in fixing the day for opening the bids for
: the loan so as to have here and in the north,
d in time before the bids were opened, the eff
S cial news of the ratification Of the treaty of
;, peace by Mexico, which must have greatly
increased the premium. With the peace now
comes the end of loans; and the business OF
: commencing to pay them off must soon follow.
e og-In the Union of Friday, we find long
< treaty of amity and commerce, concluded be-
:, tween the Republics of New Grenada and the
# United States some months since, and Just
n ratified by the Senate. This treaty secures tc
: the United States the right of way from the
f Atlantic to the Pacific, across the Isthmus Of
e Panama But as we will publish this treaty
e shortly in the Journal, we will defer our re-
r marks till then.
MORE TRUTH THAN PoETRY.-The othel
evening, when passing home from Office
= we stopped at the store door of one of oul
merchants, when the following dialogue en-
sued -" How is trade - we asked of the
= merchant. Extremely dull; nothing doing
was the reply What's the cause ?" we ask.
ed. "Why moneys so scarce that people
= can neither buy nor pay up for what they have
IT, i
. extreme scarcity of money! was our mex
. query. "Well,' replied the merchant, 6
don't pretend to be much of a fnancier, bu
experience has taught me one thing, and tha
is, money is always extremely scarce, ant
: times particularly hard, Immediately before
Presidential election We cannot say from
long experience whether this remark is cor
rect, but there are many of our readers who
can, on reviewing the past, judge of its truth
!, fulnees for themselves
n HARMONIOUS WH1GGERY-The New Yorl
l. Herald of Saturday has long report of ;
a meeting called by the delegates from that city
n to the Philadelphia Wing Convention. SOM
J. two or three thousand persons were present
Re 1t is represented by the press as one Of tn
most boisterous assembIages ever congregate'
is together. Speeches were made for and agans
'e the nomination of Gen. Taylor. All was con
st fusion. The Clay men seemed to be IN tn
E. majority. Twice motion was made and pu
al to the meeting by the Chair, to the effect tina
Henry Clay be declared the candidate of tn
ST Wings of New York City, and each time tn