The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-11-25

.DJ1HOh<FIIfARtS ~ Y y q -.
- - - nm
aAnvsY fIsk, As. HA.e.''
Office Of FISK 4 HATCH,
Bankers ana Dealers in
Government Securities.
No Nassau Street, Nev Yorh
November 8, 1869.
To oar Customers and Correspondents:

To our Customers and Correspondents
The surprising development OF our national re-
sources and the rapdity 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 tour or four and a hal,
per cent. interest
Meanwhile their high price. as compared with
other classes of securities paying equal rate OF
interest is leading to general inquiry for more prof
liable forms OF investment in which money may be
safely invested.
During the the necessities and peril of the
government, and the consequent cheapness Of its
securities, rendered them so attractive that, from
this cause, comb led 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
gratet lily and honorab,y to repay it.
The rapid accumulation of capital for investment,
and the reduction OF the national debt ana 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 othe. safe
and well guarded channels into which capital not
employed in business may wisely flow.
The enterprises OF Peace, less needul in their
time and place, for the common welfare, than were
the waste and cost of War; now cal Tor the capital
which the government no longer needs, and offer
for its use remuneration which the government
need no longer ray. and In some cases, security
as stable and enduring as the faith of the nation
itself.
| The desire to capitalize the premium which may
now ba realized from Five-Tweniy 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 extingulsh
feit by many holders who desire some satisfactory
assurance as to which OF the many iower-priced
securities IN the market would afford the
safety to justly an exchange.
| The applications tor information and advice
which are addressed to us daily, show how univer-
sal is the desire for this assurance. as to what
forms OF investment more profitable than Govern
ment securities at present market rates. are emit
tied to the confidence OF investors.
The pressure oil this want has led us to feel the
importance Of directing our own attention bank.
ers, our large experience, and our facilities fol
obtaining reliable inlormation-to the work o
supplying it in some measure, and to offer the re
suits OF our inquiries 10 those who may be dis.ose
to confde in our good faith and judgment.
We are unwilling to offer to our friends and tn
public anything VIII oh according to our best judg
ment is not as secure as the national obligation
themselves, with which we have hitherto principal
| identified ourselves
Since closing the GREAT CENTRAL PACIFIC
RAILROAD LOAN, which meets all these re
quiremeuts, we have carefully examined man
others, but have found no other which would full