Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1865-05-04
Government Securities.

We have noticed for some time the increased
demand for Government stocks, and regular
advance in the premium which governs her
loans now in the market: which in our opinion
invites enquiry, as to what all this new phase
in the move Of the money market may be at
tributed.
+. A short time since, subscriptions to the new
loan 1905, which were limited to two ard
three million per week, have suddenly swollen
to FIVE and even six million Of dollaes week,
and the indications for the future point to
weekly subscriptions much beyond this range,
while there is large increased demand for
older Government stocks, carrying up the
/ premium thereon to a considerable extent.
From the investigation we are able to be-
stow on this subject, we have reached the con-
clusion, that it is owing to new customers for
these stocks having entered the market in
competition with the citizen, who has chiefly
controlled it as an investment for his surplus
means: that these new cnstomersar composed
of the foreign capitalists, who until now have
been chary of our national securities, and OF
capitalists and corporations of our own coun-
try, which invites inquiry why such should
be the case at the present juncture Of affairs
in the United States. ....
This sudden move on the part of the For
|eign capitalists, particularly that of England,
: may readily be accounted for in the waning
condition Of the rebel cause, and the conse'
uuent rise of the credit of the Federal Gov
, ernment. But the participation Of American
capitalists--especially banks and bankers--'n
the large purchases uow making in our naton'
al securities, requires more minute enquiry
which Just now we believe will prove serVlcea
BILE to small capitalists, as it will be interesting
to large class of our readers
All who are familiar with the financial his
tory of our country for the last four years, art
aware, that Notwithstanding the increased cur
rency circulation from three to nine hundred
million of dollars, that until recently 1t re
ouired all this vast sum to purchase the com
modities of the country, which one-third, o
three hundred million was adequate to, prio
to this inordinate but necessary expansion
the reason for which is found in the high ad
!. vance of gold, which carried with it the prlc
of all personal commodities, leaving no sui
Mus capital TO seek investment in any ne'
channel. Now, however, that the question
t, the stability Of the Government is beyond que'
J. ton and that her ability to meet all her lii
" bilities in q brief period Of time is apparen
Is pold.which heretofore advanced SO slagmini
lv. taking with it in its advance all the Staple
e Of the country, has with this conviction
IS ready very greatly deteriorated, carrying 90"
r. with it in proportion all which it controls ar
h in its further depreciation must continue TO
in so until coin and currency shall meet on 9
re tire equality, end the resumption OF spec
III paments shall ensue, which in our estimatit
at in near at hand All this the far-seeing cal
re talist and banker understands; he is famlii
III with the laws Of cause and effect, and tn
v, there must soon be surplus fund in the ms
,ir ket beyond what is necessary to the deman
ng of trade, equal to five or six hundred miliio
ct for which employment mus. be found I'M
Ct Government shall retire her portion OF the c
in culation, which will not be under some TWO
ed three years. therefore, in selecting this eai
ch day for the investment Of his surplus funds,
CT lis fairly taking time by the tors'ock, in
is selection of safe, cheap, andproftable sour
ais of investment, rather than to holdback un
rn the demands of the Government shall be file
On, and her stocks be held at rate forbiddi
,m their purchase. Atpresent, he can purchs