The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-18
HARVEY FISK. A. S. HATCH
Office Of FISK & HATCH,
Bankers and Dealers i'm
Government Securities.
No. 8 Nassau Street, New York,

To our Customers and Correspondents
The surprising development oil national re-
sources and the rapidity with which the Govern
ment is now enabled to reduce the national debt
time is approaching when the Five-Twenty bonds
may be funded at not over four or four and a haly
per cent. interest.
Meanwhile their high price, compared with
othe classes of securities paying equal rate of
interest is leading to general inquiry for prof
liable forms OF investment in which money may be
safely invested.
During the war the necessities and peril of the
government, and the consequent cheapness OF its
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 l..
vestors.
The government is no longer 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 credit-rendering it certain
terest can be derived from investment in govern.
bonds-is compelling the search for other safe
and well guarded channels into which capital not
employed in business may wisely flow.
The enterprises OF Peace ne less neediul 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 offel
for its use remuneration which the government
need no longer pay. and in some cases, a security
as stable and enduring as the faith of the nation
ITSELF ...
The desire to capitalize the premium which ma,
now ba realized from Five-Twenty bonds, anC
the ability of the Government to fund them at
lower rate OF interest, may at any time extinguish
Is felt by many holders who desire some satsiactcr
| assurance as to which of the many lower-price
securities in the market would afford the necessar
safety to justify an exchange.
The applications for information and advie
which are addressed tou daily show how uniVer
sal is the desire tor this assurance, as TO VIVA
forms OF investment more profitable than Govern
ment sac,r;,ios a. nrsseut market rates, are emit
| tied to the confidence OF investors.
The measure OF this want has led us to feel tn
imnortance OF directing our own attention as bank
ers, our large experience, and our facilities 70
obtaining reliable information-to the work @
supplying it in some measure, and to offer the re
suits of our inquiries to those who may be DISPOSE
to confde in our good faith and judgment.
We are unwilling to offer to our friends and IL
public anything which according to our best judi
| ment is not as secure as the national obligation
themselves, with which we have hitherto principal
| identified ourselves.
Since closing the GREAT CENTRAL PACIF