The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-07

ly very cheap at 90, and United States SIS at 81
Even should the rebel States make good their rebel
Iona hypothesis utterly absurd to all who under
stand the plans aud the resources of the govern
ment-thc loyal States are richer and better able
To pay their debts than the whole confedcracy was
when the United States G's commanded a premium
OF 10 q 20 per cent II is therefore probable that
general expansion would operate favorably on
these securities. With regard to the slave State
stocks which are so largely dealt IN here, it must
be admitted that, with the exception OF Mis-
sonris and Tennessees, they stand in diff
ierent position. The future of Virginia, North
Carol'na ana Georgia is matter of grave
uncertainty. Even after these States shall have
been brought back into the Union, no one can say
what The STATE governments may do. 1t is under
stood that sweeping measures OF confiscaton have
hcun passed by the rebel Congress at Richmond.
Whether the States would not avail themselves of
thesC socalled acts to repudate the large portion
Of their deb held ut the North is at least doubt
ful question. In any event, however the war may
end. the pccuniary responsibility of Virginia will
be sIavely impaired. The resources OF the State
are insufficient to meet the interest debt of
fortyiour millions and recent events have SLATER
ed public confidence in the honor of the people Of
the Ola Dominion. Missouri, however, occupies
different position. 1t is evident that the war will
have The practical eject of 80 weakening slavery
IN Missouri that it will become, on the
declaration of peace, free State to all in-
tents and purposes. That ,noment it will become
Formidable competitor with The Northwestern States
for European immigration. Missouri is, in many
respects, the finest State in the West. It's pre- Inc
tons are more varied than those OF any othe Vest
en- state i produces wheat. corn, cattle, tobac-
20, hemp vine and cotton: the land is universally
adal ted 10 agriculture; it, mineral resources are
greater tgu those OF any other State in the Union
Now, Il this state became free, hat European
Immigrants could settle there IT. population ould
probably double in a decade, and its wealth would
increase in surprising ratio. Its doht-scme
t25, 900 ,000-would be a mere tr.de and the inte-
rest on Il would be readily provided by the rail
ways for whose construction il was incurred.
These considerations viii naturally operat in IA
vor OF Missouri stocks rs soon Is the alarm Gre
.tct hy The fall Of Lexington subs les. Railway
stocks will probably be affected ~ ~ expansion
ii The ratio Of their traffic. certain nnahcr Of
lie leading roads will naturally suffer b. The war
Tic Baltimore and Ohio appears to be ruined
The business Of the New England ROAD. must suf
ter. The Illinois Central mast lose the traffic
which formerly chose that route from Chicago
10 reach the Southern States, or from the
South TO Chicago. Last year it carried good
deal or cotton and sugar North. The business OF
thr great lines Of road between the Wesi and The
-eahau,d must be large throui, ho't the present
and he coming year. Every on these line +
now fully employed in the Transportation Of grain
ana iteights have, been lately raised without re-
duc.ng the amount of traffic. Neither tie Eric nor
10 yntra can carry the produce wn h is oaored
ia both. Ii IL certain that tie European ian.
yorta are so short that both Gnadfld Pad Frame
VII require all the food we can spare His winter
and next spring. This insutcs ampir cuulaNiHcnt
.oi the Gaena, the Ruriagtou ana Quincy ard
other roads trayersing iljnoia, TIE Michigan
in, ;, the Toledo and laSt Shore md u, Penn
sylyania Central, New yort CeDtrL apd Erie, for
year 10 come al least, guilt gdg ltnda..sly OF the
contingencies of the wat. !, !, undctetta d that
few months more Of surh ilsntc>s rs tcse roads
enjoy will secure the payment Il Substantial
spring dividends on nost q. thgi,l. an" this pros
pect viii naturally attract hu ntttafiat oi - Gu
lators when general iptia,,on besonies mani
fast