The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-28
Highest quot.

The highest average quotation for nineteen years ha
been l6 per cent Since lS49 the quotations given 10
the United States 6's payable in 1868. The average
highest quotations for these for eleven yeas
have been 1l9. These rates would yield an interest
only Al per If take the average highest anc
lowest quotations FOR the past eleven years the govern
ment 6's OF 1868, the averages have been un,ei
49, and have not realized their holders a. PEE
cent AS rule IL may be stated that the public sccur
ties of all solvent governments in request
that yield the smallest interest Of any investment tn.
that such government represents the agsrcgat
wealth of the people, and its failure musalways be pre-
coded by that OF the individual members who compost
IT, The average price Of money for commercial ransac
uons, both in England and the United States
three per greater than the public securities Of tn
two countries yield. This has been uniform experience
been in the past, modified. Of course, by extraordi
nary events. The loans brought the Mexican wal
sold at par but the moment public confidence restored
they sold at 20 per cent premium Owing to the present
political troubles the tned States 6s of 1868 are selling
rate which will yield TO those holding them till their
turty per center very twice the of
they have yielded for the past eleven years nation
with vitality like that Of the United States is gonl
be extnguished in day TIL like all other great
nations it has its course which is not measured by
any ordinary computation. In year or our fears
will be forgotten. and money is far more
attendant among than at any former period, it viii
not be long before government securities viii be selling
at the highest they ever reached. The supply
coming upon the market will, for time, keep down
the price, but the moment that rates
will rapidly advance, no matter within any reasonable
bounds how great de may be contracted. The public
debt England equals nearly 81 900 COO OOO debt of
$500 600 600, eight times less would be- for Us,
thing In comparison. The English cousos would bear no
higher price they reduced 10 ochaf their present
amount Were the public debt Of the United States
$500 900 instead of $40 900 COO its securities would
probably bear higher price, from the vastly greater
nmbes OF parties Interested and dealing in them The
tanadas, with population Of about $500 000 have a
public debt OF S6j coo ,605 which would be equal to
debt Of $500 coo 600 for the United States which have
threelod greater wealth and in proportion
10 population Yet the securities of the former are
selling AT premium Of ten per cent while those oil
e latter are at twelve per cent discount This fact shows
the excess aid unreasaaableness Of our fright The
debt at the formation of the government was equal TO
nearly go per head in 1916, SIS per head. similar
ratio per head would give debt OF $3.50 600 600 in
one case and S465 900 900 in the other yet the wealth OF
the country more than three fold greater per head than
III either OF the periods named AT the close in 1915 Of
The great Continental wars the debt Of Great Britain in
Guiding Ireland fs60 600 600 about 300 600 dCo
which was nearly $3.50 per head for each man woman and
child IN that country-i@ population, including Ireland
not much exceeding ID 900 600. The population of tho
United states is more than twice that number that of Tho
loyal states one and half greater with r,s,arces vastly
exceed ng those of Great Britain her cyentl STRUGGLE
which humblcd the greatest military power and military
genius the weird had ever seen.
The following is q comparative statement Of ex
ports. exclusive Of specie, from the port of New
York to foreign ports for the week and since Janu
AIRY L.
1859. 1860 1851
For the week ..... 81 PAS 531 2O2l 400 o-g iss
Previously reported. IL 0b03 44 56572 056 81 ma o73
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