The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-03
The Kids for the Loan 60 the Govesnsaeat
st washsngtoa.

Of dollars. offered by the Secretary of the
Treasury, were opened yesterday at Washing
ton, and, as will be seen by our telegraphic
intelligence, not only Was the loan Ken, but
the proposals. amounted to thirty millions of
dollars The average for accepted bids IL
about 30 IL.
Ii appears that this time the bidders are
not altogether Wall street capitalists, but some
belong to the Eastern States, and from Penn
sylvsnia and Mary land; and some are not
financicrs and brokers, bu, persons wishing to
make permanent investments. and expecting
that the stock win 20 up some time, and that
they win be paid the interest 10 the end, even
II IT, prompt payment should be interrupted
by disastrous events, about which 50 much APP
prrhension exists In the public mind. But
the great bulk OF the stock has been taken
by spectators who intend 10 sell again.
ard who have been encouraged by the
success q the brokers with the last loan,
who made two or three per cent on
the operation Immediately after the purchase.
From the weakness and vacillation Of the GO
vernment they hope there will be no war, and
that they will make a good thing Of the stock
IN Il evident that there Il stlll misgiving
In the public mind, else Why should a stock
which few mosths ago woald bring ll6 be
now allowed to sell for e3H-a depre-
ciatico OF 22k per osat II ought to
be far better Investment than State
stocks and railroad stocks, which bring
a Gar higher price today II Il no. year
since II stood Al In Europe and on this conli
nent No financial or commercial disasters
have reduced ia value. Political causes alone
have affected IL, aud these causes still exist ard
are now In operation. Hence the stock Is rs yet
doubtful But nevertheless, owing % the guam
ti,y Of capital lying IDLE In the hands Of baak
crs and financial agents, blddi1gs haze been
made for Il 10 the amount OF thirty millions
This money has been acoum0lating here
from Europe, California and elsewhere
ard withdrawn from business on &C
count OF the uncertainty and threatening
aspect Of the political atmosphere; and +
elbows that II bligttlng discord bad no. come
over the councils of the nation. the prosperity
OF the country would have been almost fabu-
lous. While the nations Of Europe were over.
wheined with debt and political troubles. and
making enormously costly preparations Tor
war, and while their short crops ard or
abundance OF bresdstufYs threw the bAlsnee 81
trade into our hands, we committed national and
commercial suicide, and wansosly threw away
the magnificent advantages which sountifal
Providence had conferred upon "a Nor have
the evil consequences Of our folly been yet ex-
hausted. Far from IT, Unless we resrsce our
steps all the distress and suffering that have ss
yet been experienced are but the beginaing Of
sorrows. Let the people, therefore, place bu,
small reliance on the fact Of the loan no, going
down to a lower figure: tha; may soon come
The events Of a few days might send Il dowa
to eighty, or evea lower. Already news rela-
tive to reinforcing Fort Pickens and 81 threat
ened collision with Spain begins TO come over
the wires. The action, 1t Is true, Of the border
States has had favorable effect upon TIE
loan. Their gravitation towards the old
Union has to a great extent trsnquilized the
popular mind. But let no one be deceived ~
present appearances The action Of the border
States has hitherto been centripetsl and they
still revolve in their orbits around the govern
ment at Washington; but how soon the certri-
petal force may be overcome By the ceairifu.
gal, and those States may fiy OF and grayitate
to the new centre at Montgomery, no man can
with confidence predict The reinforcement OF
the Southern forts, or the attempt 70 collect
the revenue by force under tie Morrill, iaIi
in the Southern confeieracy, may precipita.e
the border States into immediate secession and
revolt. AT this moment Virginia threatens re
volution, and may be numbered with ths Con-
federate States sooner than We are aware.
But in any event, II satisfactory concessions are
not made before next winter, the probabilities
are decidedly against the slave States remain
ing in the Northern confederation. Then there
is the danger of war with Spain, a. our readers
will see by the intelligence from Washington.
Should such an event take place Our govern
ment would have to call Immediately for new
loans, and the effect would be to bring down
United States and all other stocks to very
low figure. If collision should occur between
the troops of the government q. Washington
and those of the government at Montgomery,
tina. would have a still more depreoia.ing In
fuence upon these securities
In this view unless the government begin AZ
once to show some common sense, and the
summer and fall elections indicate strong re.
action and counter revolution in the Northern
States, we should not be surprised to see
United States stocks on the first day Of the new
year much below the favorable bids made
Yesterday at Washington.
The CONNECTICUT ELECuo&-0lr returns
received since yesterday morning do no;
change our first impressions Of the Connecticut
election. The republicans hold the Stass, aid
Ehar have not bean matariaIlr weakened Ia the