The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-09
MISCELLANEOUS.
hlSCELLANEOUS
HARVEY FISK. A.S.HAroH
Office Of FISK & HATCH,
Bankers and Dealers In
Government Securities.
No. s Nassau Street, Nev York,
November 8, 1869.

To our Customers and Correspondeuts
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 1t 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, as compared with
othe classes Of securities paying an equal rate of
interest is leading to general inquiry tor more 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, combiaed 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 q borrower. 1t no
longer needs the country's capital. but desires
lily and honorably to repay 1t.
The rapid accumulation of capital for investment,
and the reduction OF the national debt improve
ment OF the national credit-rendering it certain
that hereafter but comparatively low rate OF In
terest can be derived from Investment In govern
ment bonds-is compelling the search for othes safe
and well guarded channels into which capital not
employed in business may wisely flow.
The enterprises of Peace, no less needul in their
time and place. for the common welfare, than were
the waste and cost of War; now call for the capital
which the government no longer needs, and offer
for its use a remuneration which the governments
need no longer pay. and in some cases, security
as stable and enduring as the faith of the nation
itself. r.H
The desire to capitalize the premium which may
now bs realized from Five-Twenty bonds, and
which material decline in Gold toward par, and
the ability of the Government to fund them at q
lower rate OF interest," may at any time extinguish,
felt by many holders who desire some satisfactory
| assurance as to which OF the many lower priced
securities in the market would afford the necessary
safety to justly an exchange. | lAs
The applications for information and advice
which addressed to us daily, show how univer-
sal Is the desire for this assurance, as to what
ment securities at present market rates, are emit
| tied to the confidence OF investors.
| The pressure OF this want has led US to feel the
importance Of directing our own attention as bank
ers, our large experience, and our facilities for
| obtaining reliable iniormation-to the work of
supplying it in some measure, and to offer the
suits of inquiries 10 those who may be disposed
to confde in our good faith and Judgment.
We are unwilling to offer to our friends and the
public anything which according to our best judg-
| ment is not as secure the national obligations
themselves, with which we have hitherto principally
identified ourselves.
Since closing the GREAT CENTRAL PACIFIC
| RAILROAD LOAN, which meets all these re-
| quiremeuts, we have carefully examined many
do so, until the following placed In our hands;