, 1863-10-20
Qt)teago @ribn1le.
TUESDAY, OCTOBER 20. 1858.
GOVERNMENT SECURITIES

@VtHRNmHNT + SECURITKE&.
The recent increase in the sales Of q. s.
5*20s admonishes those contemplating the
establishment Of Banks under the law Of
Congress to take immediate action in e.
curing this loan, particularly. as the in
crease in the demand is largely from For
eign sources, and the indications are patent
that the remainder Of the amount will
hom this cause, shortly be absorbed.
The condition Of the treasury at present
Is strong one-the receipts from ordinary
sources, the tariff duties and Internal rev.
enne affording more than sufficient for
half the daily expenditure, while the $780,
100000 Of interest bearing legal tender
notes, granted by the late Congress, are in
reserve in the hands Of the Secretary, and
VIE are assured that The RESOURCES OF the
Government are amply provided for its
service for the next seven or eight months
Independently Of the sale Of 5-o0s.
a well authenticated rumor states, that
parties IN New York are offering to take
q large sum-a hundred millions at par
On Foreign account, and the sales of the
last two weeks, amounting to over eighteen
million dollars, tend to confirm this ru-
NOR.
The Hon. Secretary deserves the thanks
and approval Of every loyal citizen for tue
unexampled skill, talent and patriotism
with which he has managed that portion
Of the public service confided to his care,
under every adverse circumstance calcu-
lated to embarrass him in the execution Of
his schemes Of finance; contrary to the
opinions and representations Of our most
eminent and experienced financiers, and
compelling their admiration for his genius.
Firm in his faith when all others doubted,
that they would be brought to a triumph
ant and successful issue-because they were
based not only upon the vast resources Of
the country, but upon the active and en-
du1ing loyalty Of the American people.
The writer Of an able article IN Harper's
Weekly, after discussing the question,
*FWhat to Do with Money" comes to the
following conclusion:
There is, however, one Investment now
offered In this market which promises both =
suitable income and perfect security, that Is,
, United States per cent bonds. These
honda, which are offered In the United States
Sub -Treasp,fes AID at the various Govern
mint agencies at Tar IN currency, yield per
cent. per nnnnm, PAYABLE IN GOLD. There
were $500. COO 600 Of them authorized BY Con:
grees to be issued: Of these, S215, COX, 900
have already been sold, leaving s2,5, ,O00, 900
yet 10 be disposed Of The gold for the pay-
ment of1nterest on these boEds is received
from customs duties. At the present time
III TN e% ees39s 5 @ At sth tbs PsF1 alone s
te tbs ports together, probably. orer s75.,
per cent. on Il SO, oo,ooo. Tho
custons duties will. II ths nature Of
1angs, sontinpe ~ todncrease 50 long a The
purchsser Of these United States bonds In
6uIes himself against the depreciation Of the
currency without running the risk which Is |
assumed BY thc bnyer Of go1d-nsme1s, the
the loss e interest, lfgold rises, tie income
ofa United States bondholder increases sin.
nltaneously, while that of every. other bond
Or shareholder diminiehe2. If gold falls,
United States bonds Iite, and the holder can
TIs sHs m11s{ By 81 .sins out 1t she aasanee e
property and stocl:s, United States securities |
alone excepted. In ejt5er event, therefore,
the creditor Of the United States Is in safer
position thnn the creditor Of a shareholder in
any private corporation, OF the holder Of rea1
1t is there considerations which have led to
the absorption Of theilye twenty bonds ut the
rate Of Eesrly million day fur nine months |
ana Which probably tnenze the sale Of the
whola tasue by New Tear. |
It is proper to add that Messrs Preston,
Willard & Keen, Bankers Of this city, are |