The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-15
AMERICAN STOCKS IN THE LONDON MARKET.


comparison to most OF the South American cOun
tries find that Brazil. with an exhaustive war On
hand an enormous and increasing debt. her Finance
Minister pr0claming that m the Paraguay war
lasts ten months longer the country will be ruined
has better credit than we have. Her five per ceat
bonds stand at SAX. The Argentine republic has
an income OF about 900 gold annually.
This year there IS a deficit III the budget OF over
5000, 900. Her SIX per cent bonds stand at 1917.
Chile stocks are deservediy high. The govera-
ment Is progressive and peaceable. The peculiar
geographical form Of the country Is guarantee
against any long continued revolutionary DISTURB
ance. Their six per cent bonds stand at %.
Peru. depending entirely upon her guano de-
posits to pay the interest upon very heavy debt,
still has better credit than we. Her four aud one.
third per cent bonds stand at 80. And yet
guanO does not grow, nor does 1t Increase 10 any
extent worthy OF mention. Peru Is, moreover. one
Of the most revolutionary OF all the Spanish Amer
can States. SIX weeks ago Bolivia had an offer from
the Paris bankers to negotiate . six per cent loan
for her at 81
Converslng with Mr.. Edward Haslewood, one OF
the leading and best known members OF the London
Stock Exchange. have drawn from him as result
the following interesting and very pointed letter
upon United States government, state and company
stocks. 1t VIII serve well for those who are dts
posed TO look at American finances and politics
through English spectacles. He makes several good
hirs.
FOUNDERS COURT LorHBuRy, July 20, 1862
DEAR SiR--in accordance with your request now
put into writing the substance OF my verbal answers
confidence of the British ne.De i'm the different state
stocks, public enterprises and government securi-
COMPARED with those of other natIOnsf
Undoubtedly the first and most important step for
Individual States is to Compel the State of Mississippi
to recognize both her debts ana come to a compr0-
mise with her creditors The argument Is this:-Ir
Missssippi can default on the bonds issued through
the Planters Bank and rephdiate her bonds issued
or Massachusetts do the saniep There Is neither
Superior Court with power to Judge or to
s n S SyeSa s or
Of sutcient weight to compel State to continue in
the path Of honesty me European view Of the
predtors but are rel bart and parcei Of the federal goy
,oi d aS TO he nm of the Union and IL not
70 Be admitted unless she complies with certain e.
% 6e a 10 TO the
nr . s e, o ali he STATES thp Snnears TO be- Inc
sOpS i4f o. all 'e oa'eS ILLS ole appeafS " " 'A0
Hands q, nrvate enternrises are NOT ravorites
thew are an l,ebe to overisse The bonds of foreign
governments, oonntersigned by tneir agents il Lon
laws are very derent things to Shares or aeSea
tnres Of pvblc compap,es whose power Of creation IL
mi " tod " Another OuIeCtlOn
these scr pp on e
onh pay all Enown fact that for some months pr,or
60 tha nmhI,cat,o" ~ summers sneech there had
been STEADY demand ior SINAI rt ta aSc
% roasod tho tnston the sneech was remarked
the London market Is now in reality the mere pipe
hu1 au tno rnnt,nant ia fed Very dnnhifm IN
ao% ~ tho tenth mart nS the federal secmrites hed
aSro.d are ned n this countrv and the
senss view of # IL that until the Alabama Claims
S.,ev w" ~ az oost rbot Snnnar "a snmfYad Ont
are OF a. eas ore ' EsY n h ecreaseT than
tnas tenaa par n ~ ~ IN "1 the secsrtes ~
hCrsaSeuc NJ nos Seeo Iostered NV tSs
saU h n ~ no" xonr rners yo sbs Iowest
classes am certainly not a Worsappes o. the pesr
Han orse of Commons who look forward. than
in ms the House Of Lords. VINO are anti
fntnre of this nation to Snv Deer than would
AZ 90 the ne Americans are doing bowing themselves
a1 Sa WS By - yoSr laws vow reoure that no
american H born on the soil shall vote until he IS
No : yGdrs r " scaos to ed"cste HIM
ana VET Won nnhestatineiv grant the Ignorant
VINO Possibly Caamo. wre ms Va
movers OF voting equal to your most distinguished
Citizens. Worse than this, as election day ap-
not to the Intellectual classes but to the lowest OF
the low 80 as to catch the largest quantity Of votes
the decision can be- given BY the Villagers without
noc9 S se out tps let
neserved for Those who can at least read
newsnanar. When the November elections
ara nrngreasin0 Eeniansm Will he in the ascen.
dancy. each Candidate WIN promise everything
that eyerV Eentan can desire Wnen the elections
are over these nromises will not he Remembered bV
the uvers for one mnment INT there IA class
whicn viii remember Them and that class is the
real ,rvaatnrs VINO viii turn asde from the secritaes
Of xaur n"tionn not tnow,nS how soon the smoke
nav he fame In ofiier words inyestOrs viii NOT
purchase The bonds of your peOple when judging by
ffha strn,n orotiona Ereadnm FOR Ireland means
war With Great Rrita,n "
The nrica of ali things denends SOLELY upon suuuly
ana demand irresnect,ve nf the nnaltv of The
article. sinking FUNDS limit the supply and ulti-
mately must tea on tae price 70, luis REASON INC
ana the Smallest iatches or deviation from the strict
compliance with the engagement sharply commented
upon. 10 FeDruary' 1907 wnen smc i sh