, 1869-11-26
IS& Crib Il nx.
TIE" -FOUR PER CENT? pEIusrOy.

While The government is still uuab!e to bor.
row money at six per cent, some Aotua
iA"eus can be devised whereby j: eau bos.
rcw At four per cent This is the exact
meaning Of Ill the projects for the issue OF
four per cent bond, Of which We heat 30
much Oae dayewe have runaor from
Washington that m agent Of the Ru:hs-
childs il eager 10 lend rs money at four per
cent The Ecxt. some conscientious doubts
Fro expressed whether they may not require
= rer CENT. Cndoub:edls. the Rothschilas
would leLd IT'S money on a four per cent
Loul-blt it would he by buying The bond
st sCcL discount as wonld make tbs inter.
tsst they wesld receive on their Investment
jrst L., large rs If We issned an eight pe,
cert hoad, at the premium such bond
un':1d hear. Again, it Is ia.:raated tha.
Secretary Boutwell, VIII recommend
tie issue c5 q foat per cent band as The
lusis for the currency Of the National
l"Eks. urd anon the Scs Yo.k Tins al
vccs,cs tbs proposition.
Al these ramors imply the clearest posi-
lie ignorance Of the principles which gov
~. .., - :...s :, AZ, 4
n'rrt can borrow depends wholly upon the
rate At wEich the capitalists o. the world
arr wiiliIg to lead, mud is not In The
thehtr.i degree a.Tectcd by the nomira,
r.tr IF ;nts,p., ,h, c,xern,ne,,, NAV nr,,,,.
il. II pay on tho face Of its bocG. II il
,,.,,,,ss .o .,o,-nv >. 1,,re, rn,. NJ y,
te-.s. Than car;ta,ists ev. ui,,;nc IN land II
n,u1, s-,, ~ bon,1 1T xuch n ,3;s.,,,,t a.
1rirc> nm tl.. rsta nj ;,,.res, ~ ,ba;r ~,
,<s,n,, ,nrns
10 illustrate. In Sore,o,,er % ;,stsn,
,,,- tr,-,rc,,r i.;X rnr cert> to,,5s ro,a ~
1,,,,.:, f,v f,,r, s,,+,,st s,,,.1;,. =,
,,r,, dstes The se,,;no ,,-;ca y, F,.nl1o-
!, cold. AMI, Mt Sex Yort in c;.har sr,a,;
c.n c,,a ar !, c,,,ran-r z-.. oan;-a1:,.
sflovin, for tho ,1ifre,enc. in thu f;nanasa
ct the standard gold uf the three conntr;.s
Ed for Gus: Of reinstatement both of
uLieh NC c.pressel in The ara,es Of ey.
eh1ncer This settle. flint n tond of tha
Iu,td States far SIM rnnn;nc at G ner
rent vti,A Government has tte ont;oa N
,ay afts. i've yea,s and the c,e5f.
ter ran collect af.or tua,tv
years. is worth on1v .i,h.r. .f,nr do1,avz IN
cold. TIE lender on these bonds oats sir
dollars far 4be nsa nj eiohtv .f,ur ao1l.u for
,,-c rfar v},:cb ;s nar co,t 1,aei5ac .
1s,,,n,v IL sixteen dolInrs in tha fsrt +bot
tie t,ood for which he pars 5s4. pavs him
SIX, wh-a Que, As these bonds. issued in
the yea.s o.: to o.. viii be tlue as the
SD discount on their mice enua,s one dol.
lar ner wear interest ar mora than one ,ar
cent rratino tba total intaros, n t-;aa ,,,ora
than : l.. ncr caat-ahouf 81 ner ron,
This is The ra:o of interest at which the
United S,ates could l,orrow to-lar nm it's
to.cel)ed si1 per cent bonds The r.,c on
its i've per cent bonds {the teu-forties} is n
,1,tae less. not BECAUSE of their nominal
r.te. Int mainly of the lonprr fime for
which thev run. Their nrice m thc
san. d,v nj Ion.3,,n u,s IS; ,ba
c.,v-,,,p.+,,t-s h,,,5 IN SIM IN ,,,1, j.,
f.,av, ,,ors uith m c,tiona, ricbt IN r.t,oc,,
j, in t-n .e,r< ia r,r4,, s-s :, oil, Tho
cnni..,;., ,n1ast;n,. - II, n ,cr'yo,tv bon;,
,1rus - ANNA, interest which ia c.-1o
c.rt tee;dee n ,,ornt- IF s.,a ~, tba
.rinci,,l ub;rh vit, he an. !, s,r th;r4v-
81. yea6 This ad1s ,;-,O of .one ner cs,+
t,l;. rs.c IF inte-es, ra,.;nr 1;s uho,a
,-,r., i,t,,<e+ inc, esro, ~ ,o,+ -,
,on,;,,r,, er. ,.r .ar. h,na
f,,s. in,rr.sx;o,, ax,<,, ~ ,n,,- ,,;,as
rho, -h,..rs, .,.,1;,sr ,f ;n,..se+ tta Nv
..,,t,a~,, n,aa !, h,-,,u;,,,, 49, ~ ;...r.st
,.ss,;,. hond. :, .na,a.aa1 =, h,1-n,;,,,,
- H. ...:.,s.a. ...."..
.1,ho,oh $500 Ch.sa.;s ss,,,, -. f.s,..
N-N,H
~ .4t' 'Al'A..o4 ep"4.a' i'0 Aa'oo"
80 - a4Ant's u- '"o s4eea-
''"eAs 'oie Nv oom.ua' ta'eiese' hn. Sefe
Iassso.e A' Nv a1sa ''iae' 'ne enees 7" tnese
Two circumstances VAS expressed ID then
oef'sc'e'loo. "heo Rola stood al 2Up'
g'eenoacss were worth ;A'esass per doi1as-
l. e., lof the use OF :Jl In g7ld tho govern
n"n' fro'n'aehts" pay sl'" at ITS earl'esscon-
NeI'ence* aud nomlnah5 without interest.
ne 1eai interest," 9nefe1ore' on M green
haeAs 'ssaea while gold "as at -''o was loo
per cehr II The government shonld re-
"""e sp=c'e Passhcats In zen years ths
"oo'o Ire equivalent 10 nm 1n1eses' OF ~
Fer een1 per hnno1n- II sesameu IN s'1
Years ~"Gla be IL per cent. Most of
INC e'eenoAchs were 1saaeu, however, al
from " 10 =" cents value per dollar.
1noee Issued al VI cents value draw an
interest Upon redemption at par amounting
~ nj