Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1866-10-31
Politics and Finances.

Ihe business instincts Oh cOmmerclal
teach that the prGlonga-
tion of political troubles and dissen-
ticns, or the prevalence of high parti-
san strife, are not promotive of mate-
rial interests. The decline in five
twenties abroad, in the face of the
vast resources and ample revenues Of
the United States treasury, wonld
seem inexplicable, were it not for the
which certainly do ex-
ist, especially in Germany, as TO the
final result of our present domestic
troubles. These apprehensions, COM
ing from sources too remote to be
tinged with American sentiments or
prejudces, one way or the other, and
rejecting the cear-si ghtedness of pure
Iy business calculation, should warn
us in time. From Frankfort, the great
centre of the European trade in Amer
lean securities, we see that the United
States bonds are depressed, notwith-
standing the favorable commercial
and financial reports which have
reached them through the medium of
the press and by private advices. In
deed, it is reported that investments
in United States stock have apparent
" ceased for the present and sales by
spectators have forced prices down
two per cent. One writer says:
"The fact is that while nobody be-
lieves in a second civil war, the differ
ences between the President and the
Congress begin to alarm our capital
lists, and until the struggle shall have
been settled in constitutional way
confidence cannot revive. Political
uneasiness is the only reason for the
decline, as the market is not over
stocked, the price for money being
still higher than for the account
All other securities, Austrian included
maintain their quotations. A leading
house at Frankfort writes as follows
Notwithstanding the fact that for
eign securities generally have all main
tanned their quotations this week
there has been very severe depres
sion in the United States 5-20 bonds
and this, too, in the face of favorable
reports for the bonds from the Unite'
States, and also favorable intelligence
with respect 10 the finances of tha
country. Political differences, how
ever, are thought by capitalists her
TO outweigh even these flattering pros
poets, (or rather what appear TO b
such, and hence they have neglecte'
!, the favorite 5-20s altogether this week
leaving the market in the hands Q
spectators, who succeeded in forcinl
the quotations down 2 per cent. W
J have heard of no purchases for invest
ment, and, until confidence revives,
, is useless to look for any. The polit
} ical difficulties in the United State
are now such that only settlcmcn
upon a purely satisfactory basis I
both parties can impart feeling {
stability to the German markets"
At London, Satterthwait & Co. r,
port decline of 81 in United State
5-20s for the week, though gloom
+. anticipations of the amount of th
next cotton crop (Which the Tim
estimates at not mere than 1,270,00
bales may have quite as much to q
with the decline as fears for our p
litical future. But, whether the co
ton crop is largef or smaller, OF
thing that is wanted now is polite
adjustments and confidence, which, wit
the rapid absorption of the temporal
debt, may bring our national securiti
up to specie par at home and abroa
Baltimore Sun.