American citizen. [volume] (Butler, Butler County, Pa.) 1863-1872, 1867-10-30
RAIDS UPON OUR BONDS,

Twice within fortnight the money
market has been unsettled by vicious at
tacks upon the Government securities.
The excitement respecting the Five
Tweuties had scarcely subsidized, aud the
bonds had barely time to rally from their
temporary depression, before it was dis
covered that the Seven-Thirties had
been tampered with. Attention was first
drawn to the fact at the Treasury Depart.
meht, where duplicate numbers were re-
ceived of those bonds that had been
sent in fer redemption. These notes
were 50 well executed as to battle critical
examination indeed, experts among the
heavy dealers in Governments" were
the chief sufferers by the imposition -
1t was scarcely possible to determine the
precise nature of the fraud, whether q.
counterfeit or an oyer>issue, whether an
exquisitely correct imitation of the orig
inal, or transfer from the genuine plate
purposely little defaced. Those who
attempted to penetrate the mystery be-
came yet more mystifed, and the opin-
ion soon obtained currency that the ro.
query had its birth place in the Treasury
Deparlmentfitsell; otherwise, execution
of work requiring such exquisite skill
would not have been possible in the coun
try, Employees in the Department who
naturally wished to remove suspicion
from themselves, maintained that the
fact that no eDgravers in this country.
outside Of Government employ could
produce such job was proof that the
plate had been prepared in Europe, and
a conclusive argument in favor of the
integrity of the Department Investi-
CATION has not yet succeeded in posi-
lively locating the crime; nor is it ascer-
tanned what amount OF spurious notes
has been issued, though it is believed to
be but few hundred thousands. Less
than two hundred thousand have been
detected so far. 81.
Although the excitement in 6nanc ncial
circles which attended the discovery of
this fraud was very considerable for
time, causing material depression in
tie clnss o. securities tam pered with, it
has now nearly passed away, and tho
temporary decline has beeL recovered =
No difference is made in the price of the
I'd series of Seven Thirties and any 9th
er series. What better proof need wo
of the peoples confidence in the nation
al credit than this astounding elasticity
of its securities under the most crush
ing blows?
l. &c. tha E,nt f,,,,a tb,@ 81 H.
en-Thirtes have suffered from fraudulent
attacks, Some months ago an over>is,
sue was detected, but the public excite
ment was quieted as quickly then as now
The Compound Interest Notes have also
been counterfeited heretofore. These
circumstances, in themselves, need oc'
casion no alarm United States bonds
are not less exempt from the attempts of
counterfeiters than other notes and bonds
Of this or other countries. But that
which most naturally excites apprehen,
sion is the simultaneousness with which
these attacks upon the public credit have
been made of late. Coupled With the
assaults upon the National Banks and
other schemes well calculated to derange
our fnaHces and impair public conf :
dence, it looks as though some coLspira>
cy was afoDt to undermine the national
credit. " hen we see the joy with which
the slightest indication that the United
States will break down under its debt is
haled in England, and the efforts there
made to prejudice the public mind against
our securities both within and without,
Possibly ten centuries of peace-making
and hand shaking would not eradicate
the innate jealousy which England and
European nations have of the American
growth an prosperity. This feeling of
jealously is but natural. 1t may not
manifest itself SO long as the national
sky is unclouded, but SO soon as signs oil
tumult or storm appear it CLEANS forth
iu uDm stakible intensity. We have moi
fors often how European capitalists pre-
dIcted, when the wor broke out, that we
should presently be on our knees to them
for aid, and how they gave US TO under,
stand in advance that application would
be useless; how they chuckled over the
prospect OF our being weakened through
disintegratiou,and the benefits they were
to receive thereffom; nor how the castles
they had built dissolved into mist when
the magnitude of our resources was de.
veloped nor how very humble they be-
came when the national flag waved in
triumph over the crushed rebellion
anu eemented Union. We have heard
their cries of wonder at the ease with
which We carry and reduce our
debt, aud we have seen the facility with
which our bonds are disposed OF in foi
eign markets: and we now see as plainly
how prompt aud eager they are to throw
up their cap over the possibility that we
may still fail aud go to the dogs of re-
| pudlatiun.
But we shall disappoint the expecta
tions Of all enemies at home and abroad
There is no possibility of SO base a con-
summation. The fact is, the country ha,
already passed the severest test which th,
national debt is likely TO subject its finaD
cial machinery; the people do not wisl
to escape the payment of the debt in
genious projects of repudiation will win
no favor except among the base aud un
scrnpulous who always fsttsu upon pub,
Il H.. l.. l..