, 1869-02-11
FINANCIAL AND COmMER ClaA


WEDNESDAY ErENIEd. Feb ~.
It Is reported that European capitalists havo
taks n the who'll Of the remaining bonds of The |
Central Pacific Nsilrnad Company, on very favor.
able tcrmR 10 the company. This Is only one Of |
number Of ciseumft4uccB which indicate that |
ycr,thipc L. rirc for turn IN tho tide oil our |
Ausucial and comm Feis! history. THE most In |
portant ih SC circumstances l. the op mig. next
GUNNER, OF thu xscAl road ttfc1l. II this accom-
p'itted nothing more than 10 max. mcaae of |
communication with tho new and r,ch mineral 4
,e,rtcirs Of The ccn'rll p,rl Of thu continent, 1t
would greatly luGscasr tho activity and volumc OF
trade, ~ has 1ccn experienced from tic building
Of trcsy 1nah wcrtwBrh tnto tho wi'1.rness. Bat
this road Is = different thing; 1t leads west
until II strikes tho East, mud practically laps thc
.epntaiu hcAlA of The oldeet mud must lucra.ivt
tradca Of The world. European csp,tatlsts sco the
ctnrEe that "a cous!tg. and thow disposition 10
iLteat their money noi only In this, hut in M
other American Investments with readlness
thst would have been counted lnsaue ecTen OF
eight years $50. This col1dcIec In American
I1otprrt'y, will however hc1p us In atothLr way,
live Will orly avas! ourrcvcs Of 1t. The Few
wealth Of tho eou,h, created within the last
eighteen months requires medium OF c1chHrGs,
hut .he people there arc unwilling TO accept any
Ting but a metallic currency, Of which tho
European morcy centres no.cr toutaiLai
I any tbtrg llkc such vast sccamul2-
stors Is nov, ard which Its own.
e.s ind II d fncult 10 losn ut
| s per c. nj PR ntnum. Az soon a. VIC make geld
onco mcru tho stasdard. tho nouey OF
| account, by legA,fz.ng coin eoutFncts, who GIN
| Guuht that large amounts Of tho capital which
now comss from there In other forms, 10 be
tusncd into railroad. and other property, will
alsr come In crld to 10 loaned where Tho owncrs
can Ect 10 per cent inbtcad OF 3, as at home. All
thtsc ct,cumstaneos rolnt to commercial activity,
| Which only fcquircs another good crop OF cereals
and eolton to lnsueura:e the most prosperous czA
| tia, the uatEon has ever known.
| Gose1tmcut bonds continue to advance etcAdt-
lr day ny dsy. md scrm 10 be gcttlng established
| on ihc kiEher plain OF prices which In accordance
With .hc improved credit Of the government, VIC
have predicted for tho past two or three months.
burda nre nov higher, both In London and New
Iotk, than tscy have ever been before. They
| were quoted higher last May, but deducting the
accrued interest they were lower then thaa row,
J .Et demand for Them by banks, anu for ali Instt-
tut,oEs having trust funds In their hauds, together
With t.c limited supply. Will, IN all probability.
put their rce fsr beyond Its present range before
the ED OF another Eonth. The announcement
o.,hc Secretary OF the Treasury that NO addition
will be rn:de TO the present total amount during
his term OF ofIlce, should alone have an eject to
greatly enhance their prices but the radical CAUSE
| IL the improved credit Of the government abroad.
This tendepeJ Is strengthened by tho bill intro.
/ tuccd IN tho House on last Saturday by Mr..
| Hooper, OF the Ways add Means Committee, md
with The concurrence It IL believed oi
| the Committee ON Barking and
Currency. Mr. Hocpcr's bill provides fot repeal
Of all cvisEng la~s authorizing the further Issue
Of United States Bonds or stocks, except the to
mslAi1g sabs,t1es, IN United States Currency
Bard., pledged 10 the Pacific roait. ofthcse re-
ms,u orly about eight MIL, 5us to be tseucd IN
der e1ietirE laws. Tacte ls ono danger now thai
lies IN the 1ay Of a further vast improvement: Ii
tie credit OF the government ard Ereat ennatce
nent in the vAlue Of all Its outstanding oollGa
lois that Is the yottEg Of outrageous tubstoie
10 tslf-to o7en Pacific Railroads. Consress i
: Low asksd. or rather, II Is demanded By lhs rail-
reAa rirG. that Ioagrees shall make the ulas
e1an: OF lacd., aEu also guarantee The bonds Q
eir VI these pr }.cts to thu amount OF N,00
Z atu 1te Interest on which the government woul'
9 taEe to p.v, amounting to 5000, GOO psr annur
i, ! TINE wenid be . load which *ousd depzees th
s | government credit be!ow any point where II In
4 yet steod, except IN the most criticsl pcrtsds
J lite Na:. Let tits ore dagger b
= | avoided until The 1ew admir-
i. i-t1at:n sariy installed, tEd With the tcdot
4 ton Of expenses And the more faithful coilec,so
i Of tho T. venue with is reasonably expected ,
~ take place, ttcre is IesGou to heieyc that wtthl
d Two cara after Gran:'s Inauguration, botds vi
b | be LcAr 10 par IN gold, instead Of S0t .
It now. Thea Is little mura activity in the 1oc
,. / money market, the demand tetar lpre'ty wc
=. distributed among nj departments OF trade, I
J. thtt the tanks did ready use jor Ill their turd
in supplying their regular customert While tt Il
y bal Il most Ultimately connected with tae G1al
and rro1ieien &nitrtets. money is vortit
q | Qlie close. In The open mAtket there ts
ut tnis city nearly Always a demand for money
1. h,rh rats 0: inierc.t- Thcrc Ia scAzcly tia
~ except in midsummer, Nten fomehoay does n
q. want It bad onough 70 psy from to II per cen
pYs uou,n for it, Atd make 1t fttust 10 tho 1eode
e The opportunities for rpeculsiions which proni
hhh f,fA = 7hr& fAt