Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-04-04
The National FIn0nces-The Five
Twenty Bonds.

4"eMly nOhubs
The financial condition Of the Govern
ment is improving every day. A gener-
al feeling of confidence and hope is also
everywhere observed among the people
This is in pleasant contrast with the apa-
thy or dependency of few months ago,
when great many thought the Govern
ment was on the verge of bankruptcy,
and the failure of any of our armies to
win decisive victory had caused an al
most universal dependency. 1t is diff
cult to say what has caused this great
change, though undoubtedly the fall in
gold has had good deal to do with it
We have had no groat victories at any
place, and our forces at the great points
of attack are delayed end often bafled in
their advances. But the opinion is very
general that the war is drawing to
close; that great victories are coming,
and that the rebellion is just at the point
of collapse With this feeling, and as
it is seen that the Government has no in
tention of becoming bankrupt and is not
distressed for funds, every body of course
is willing to invest in Government stocks
and loan their money to the treasury.
The receipts Of the Government last
week were about S11, 900, 900, or 81, $780,
900 day, exclusive of the receipts from
customs and the internal revenue. The
amount was from two sources, So 100000
lent to the Government on call after ten
days at 5 per cent, and S6,OOO,OOo from
the sale of the five-twenty bonds. Under
these circumstances of course Mr.. Chase
will not disturb the market by calling for
n long loan. n call loan made to Dor
rover who preserves his credit is evident
ly as permanent as any funded stock, and
there is no probability of these call loans
being recalled to embarrass the Govern
ment. The fve-twenty bonds which
have been sold SO extensively for the past
two weeks, are continually growing more
popular as the people find out about them,
and the sale is likely to steadily increase
till the first of July. when by law they
will be withdrawn from the market
They are six per cent bonds, both coupon
and registered, and exactly like those
of 1881, except that they mature in
twenty years from the date of their issue,
the Government reserving the right to
take them up at any time after five years
if it may desire, the time of their neces-
sNry or possible redemption giving them
their name. The bonds are sold at par,
and may be paid for in greenbacks or
bank bills. But they are redeemable in
gold, and the interest on them is payable
somi-annually, also in gold, which fact
makes these securities more attractive
than some of those authorized by the last
session of Congress.
1t will do no harm to say that jaw
Cook of Philadelphia, the agent for the
sale of these bonds, is making very
handsome thing in the way of commits
sion; also that it takes period higher
than thousands to express his profits on
the recent rise of Government stocks of
all descriptions. But if anybody ought
to mako money, it is he for when Gov
ernments were at the lowest, and every
body else stood back, he maintained
steadily the integrity of the Government,
was always large buyer, and he is now
only reaping the fruits of his iudicious
and faithful sowing.