The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-06-27
s-.t.d itself to deprs our ersdl. still lover tn. h.us.

sented itself to depres credit still 10 wer the house
Of Rohschlds In ell the capitals Of Europe made tho
most Of 1t to our Injury. Such the autipathy Of
the firm that they could not bear to hear even the
name Of American State stocks Their fvorite invest
ments stocks Of the governments Of Europe and
immense amounts loaned from time to time the
continental monarchs, at low rates Of interest the
security being considered undoubted American
abandoned and American credit abused In every
part Of Europe
Events which have transpired within the past t~o
years. have opened the eyes of these shrewd and far
seeing nauciers and shown them the fAlacy Of their
calculations, and how little they reality know Of the
value Of any securities they hold. Those that were
considered worthless have proved the beat aud those
considered the best will ultimately prove of much less
value than present estimated. American stocks
have actually been purchased by the Rothschds and
those who are acquainted with the bitterness with
which the house used to speak Of the pursued
by the people Of Of Statesor rather OF the
course forced upon them by the folly and ignorance OF
European capitslistswil have some idea of the
ton which must have beef produced before move
ment could have taken place This is the rovou
tons, and not, therefore astonished at anyhnr
There l. one satisfaction about this thing which is
that the Rothschilds, and all other foreign capi.
talists, have to pay . good round premium on
have no doubt they are glad to get them any price
Compared with the public stocks of Europe regard
safety and profit they SUPERIOR and
animmense amount ofcapita must ultimately be trans
ferIed to our shores by the purchase Of government
State, and other sound American securties All this
the face, Is very fine II source of some satisac
ton to us that European capitalists have been
led TO purchase stocks high prices and it Is OF
some advantage TO us that the immense amount of
capital Represented by these evidences of debt finds
employment in our numerous departments OF Industry
but must not lose sight Of the large drain upon
annually in the way Of interest 1t is estimated that
about ore hundred and fifty millions of American
securties upon which interest is regularly paid
now held abroad. This will drain at least nine mil
lions OF dollars from annually in the shape of inter-
est. Investments are rapidly increasing, and the In
terest Of becoming larger and there is every
prospect Of this item of expenditure becoming exceed
ingy eneroas. five could have confined the payment
Of interest on our own poblic debts to limits
tho burden would perhaps not have become oppres-
sivo; but when such large sums annually drawn
from for interest they drain of that we cannot
spare which, If continued for any length OF time will
leave very poor indeed Ten millions Of dollars per
equal to about tenth part of our annual
exports which must be increased to that extent or
corresponding reduction be made In the i'm ports
to prevent large shipments Of specie No couutry can
remain prosperous and owo suoh an immense amount
to foreigners, upon which the interest Ia regularly
paid We shall for years experience the evils growing
out of the present position OF our public debts aud the
only prospect Of relief IL the probability their ben
paid or 1T maturity.