The south-western. [volume] (Shreveport, La.) 1852-1870, 1867-08-21
The Abundance of Money.
No. 3.


The plethora of money just now in all the great
tres of commerce is remarkable, and probably unprs-
cedented. The Bank of England, which is the unerr-
ing barometer of the financial condition of Great
Britain has its Golfers full that the of interest
is reduced to two per cent France has 922 500 900
in its vaults, and the Bank of England s33 900 600
This extraordinary accumulation ofspece shows wop
derfulchange since year ago, when the Bank ofEng
land rate ofnerest was ten per cent. But such is the
abundance of money outside the banks, as well as in
them that it can be had both in London end Paris
from other parties and half per cent. interest,"
Here too in New York, though the interest is almost
always much higher than in Europe, money is very
abundant and may be had at five per cent In fact
few days ago, it was only four per cent on Govern
ment securities : g.:
The United States Treasury has probably as much
specie in its vaults the Bank of England,
The July statement has not yet been made, but the
probability is that the win be equal to twenty
three twenty-four millions sterling. Thus there is
at present accumulated in these three great national
institutions the enormous amount Of about four hun
dred millions OF dollars in specie. This, however,
represents only small portion of the money in yari
Gus forms that is aAoat. ~
What is to be done with all this available capital,
The holders are looking out for opportunities to invest
it. If peace should be preserved, France may find op-
portunities for large portion of her surplus money
the Continent of Europe, though portion Of thg:
may find its way to this country, account of
the superior advantages and higher interest here
",
as appears probable the government will absorb
good dea and portion will be boarded, while
may fly to this and other foreign countries But what
is. to be done with the abundance of money in Eng
land? The United States is the proper field for Brit
sh capital Although have at this financial centre
just now easy money market there is demand for
capital throug ghou other parts of the county beyond
the means New York has Of supplyngit it, Eesides the
interest which would not satisfy capitalists would
be large for the Europeans. thousand legitimate
and paying enterprises be found here The coun-
try in every section is eeming with undevelopeG
wealth. waiting the application of that surplus money
found in England. The South, particularly is full of
natural resources. Money is much needed, and if
used there now will in few years return immense
profits to those who invest. ~:
That section beyond all question is the richest Dor
ton of the continent Its political troubles are ap-
preaching settlement and when these settled,
slavery being abolished, both capital and emigration
must naturally flow there. Here, then is the best field
for the employment of British well American
capital And now, while money is so much needed
and before the full tide of prosperity sets in is the
time to make the best bargains and secure the great
est advantages. Let the capitalists of England, who
can get only and half per cent for money, and
in the best times three to five bring il here
where they obtain much higher interest in the
safest investments. The Old World is approaching
the limit of development, while are Just beginning.
Money will double itself here in third the time it
in England. This is the natural outlet for the
plus capital of Europe, as it is for the surplus popua
ton. Herald.
TIE New BANKRUPr LAw.-The following hints to
practitioners prepared by the New York Registry
Board: i ''"
First-Make up your petition with the eleven forms
Of schedules A and B in duplicate swear to both
file one with the clerk of the court and ask to have
the referred to regis lister: -.
Second-At the hour specified il the order referring
the case to register appear before the register to
whom the case is assigned and make oath before him
that the duplicate petition and schedules which you
then present him is duplicate original of the
petition and schedules file with the clerk and move
that it be certified correct in FORM This being done,
that the petitioner be declared bankrupt. This
done by order made by the register of which he
will give you a certified copy. You will then move for
the warrant. Some time will be required to make this
At the time appointed call upon the register for
the warrant and take it to the marshal The marshal
will require satisfactory security for his fees and DIS
bursementS for the newspaper publications, &C.. which
you will arrange with him. You have nothing more
to do till the return day OF the warrant.
Third-Be very careful that your petition and sched-
ues written out plainly, free from all erasures, in
terlineatons or abbreviaons. AS the whole proceed
ing is strictly statutory the statute and rules made
under it must be most strictly complied with.
Fourth-In case the register refuse to certify your
petition to be correct in point of form, you will take
certified copy of the points wherein your papers
certified to be defective and proceed prepare amend
ments, or amended petition, may be most con-
venient, in duplicate. When this is done, have such
amendments or amended petition &C., sworn to in
duplicate; then apply to the register upon affidavit
excusing the errors, for order to amend Such
order being allowed obtain from the reg gster certi
fled copy, and file this with of the duplicates with
the clerk Garry the other to the register who will
examine it, and if correct, certify it; and you then
proceed as above