The daily national Whig. [volume] (Washington, D.C.) 1847-1849, 1849-04-05

1
New YoRx, April ., ls49.
DEAR Sir In answer 10 your caquiry,
how it happens that Treasury notes and the
new loan, after having risen, the one to
10 l-o, the other to 10 per cent. above par,
should within ten days, have fallen TO s and
10 per cent, without the least apparent OF
assignable cause. In the first place, since
the great competition among the brokers now
for the bid Of the new loan on the 18th Of
June last, in which they were defeated by
the superior judgment and enlarged views Of
Messrs. Corcoran & Riggs Of your city,
spirit Of jealousy and envy has been engen-
dered at their great success, and combina-
tionhas existed among them ever since TO keep
the stock down. This they do by decrying
il on all occasionally keeping il out Of the
market, and thus negatively keeping il down.
There were probably unsuccessful bids to
the amount Of or millions Of dollars,
from Wall street, and to the opposition grow
ing out Of disappointments may be added
the known principle Of the Bears, who buy
for fall on time, and Of course are bound
by self-interest to overreach the Bulls when
the day Of settlement arrives They great
ly embarrassed the operations in stock all
last fall, and Mr.. Corcoran had to put his
known financial knowledge and tact into
operation, by visiting Europe last Novem-
Der, arresting the further decline Of the new
loan, and placing it on permanent and SOL
| il foundation The Bears have had their
day--the new stock and treasury notes are
gradually recovering from the pressure, and
gained one degree in the last "a hours in
the scale Of ascension. Take care these
gentry do not overreach themselves, and in
a short time, lett ing the new loan gradually
but surely rise, like the mercury in the ba-
rometer, by the time the last instalment is
due, in July next. The stock is nothing like
its real value, nor will It be till it rises to 100.
Itrequires no great foresight to see that it
must, in the natural course Of things, reach
that point within the year. Not only is it
the safest Investment capitalist can make,
but It affords much larger dividend or per
centage than any European stocks. 1t is
now on a wholesome footing as all the weak
props under the edi6ce Of public credit have
been removed, and none but stable pillars
permitted to uphold the structure. The un-
settled political affairs Of Europe, will en-
courage their capitalists to invest in our
stocks as affording more assurance and sta
bility In addition TO this is the prospect Of
immense sums which will reach here in the
shape Of gold dust from California and will
seek the best investments. From present
appearances we may justly calculate that
on the return Of the many vessels now at
San Francisco, and the numerous emigrants
who will have saved handsome fortunes, and
who will be anxious to enjoy the fruits Of
their labor in their own beloved country, we
may safely compute the amount Of gold that
will have arrived in the United States by
the last Of July next, at five millions Of dollars
which will be only the beginning Of the end.
The holders Of the stock do right by asking
one or two per cent. more than the Of
fering price, and by not pressing il on the
market In three months time, spectators
or capitalists who buy for permanent invest
ment, will be glad to get It at lG per cent.
above par, and the Bears may suck their
own paws for livelihood.
Yours, respectfully,
II. C. c..