The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-17
To our Customers and Correspondents:

To our Customers and Correspondents:
The surprising development OF our national re
sources and the rapidity with which the Govern
ment is now enabled to reduce the national debt
by weekly purchases, render it apparent that the
time is approaching when the Five-Twenty bonds
may be funded at not over four or four and hal
per cent interest.
Meanwhile their high price, compared with
othe classes of securities paying an equal rate OF
interest is leading to general inquiry tor prof
liable forms of investment in which money may be
safely invested. -...
During the war the necessities and peril of the
securities, rendered them SO attractive that, from
this cause, combined with the patriotic faith OF the
people in their safety, they absorbed almost the
entire floating capital Of the country, and diverted
attention from other classes OF securities which had
before been deemed sufficiently conservative and
sound to meet the wants of the most cautious in
vestors.
The government is no longer a borrower. 1t no
longer needs the country's capital, but desires
gratefully and honorably to repay it.
The rapid accumulation of capital for investment
and the reduction OF the national debt and improve
ment OF the national credt-rendering it certain
that hereafter but comparatively low rate of In
terest can be derived from Investment I'm govern
ment bonds-is compelling the search for othe= safe
and well guarded channels into which capital not
employed in business may wisely flow.
The enterprises Of Peace, no less needful in theiI
time and place, for the common welfare, than were
the waste and cost of War, now call for the capita
which the government no longer needs, and offel
| for its use remuneration which the government
need no longer pay. and in some cases, securit!
ds SldDic duu cuuuILuB as Tue idItu VI TUG hatoi
itself.
The desire to capitalize the premium which may
now be realized from Five-Twenty bonds, and
which material decline in Gold toward par, and
the ability of the Government to fund them at {
lower rate OF interest, may at any time extnguish
Is felt by many holders who desire some satisactor,
assurance as to which OF the many iower-priced
securities in the market would afford the necessary
safety to justly an exchange.
The applications for information and advice
which are addressed to us daily, show how univer
sal is the desire tor this assurance, as to wha
| forms of investment more profitable than Govern
ment securities at present market rates, are emit
| tied to the confidence OF investors.
The pressure OF this want has led to feel tn
importance OF directing our own attention as bank
ers, our large experience, and our facilities 70
obtaining reliable inlormation-to the work o
supply lag it in some measure, and to offer the re
suits OF our inquiries 10 those who may be disnose
| to confde in our good faith and judgment.
We are unwilling to ofer to our friends and th
public anything which according to our best juds
ment is not as secure as the national obligation
themselves, with which we have hitherto principal
Identified ourselves.
! Since closing the GREAT CENTRAL PACIFI