New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-11-12
AMERICAN FINANCES ABROAD.
UNITED STATES CREDIT IN ACsTRIA-BoNDS AND
RAILROAD SECURITIES IN THE GERMAN MAR
RET-ROTHSCHILD POLICY.

UNITED STATES CREDIT IN ACsTRIA-B0NDs AND
RAILROAD SECURITIES IN THE GERMAN MAR
KET-ROTHsCHHD POLICY
tYROM AN OCCASIONAL CORRESPONDENT
FRANKFORT on MAIN, Oct. 10.-The reason
for the present dullness on tic Frankfort Bourse
attributed in a measure TO tho effect Of the late gold
panic in New.York, as well tho late panic the
Vienna BOurse II has been long believed here that the
credit OF many Of the banks and industrial associations
OF that city without much capital, and could not
endure any Many Of these had been started for
purely speculative purposes and with only small pro-
portion OF the the shares called in These
new associations not all gotten in Vienna, but
had their origin in this city Berlin and Stuttgart There
was great want of confidence In their stability and
security Austria has paper currency and. as In our
country 1t is subject to fluctuations. The difference
between gold aud paper IL however as low as 20
per cent vet il has varied but little for many months
mast BY the present able political management Of Won
Beust and tho continuance OF good crops, Austria
ought before long. TO be able to resume specie
payments For the first time, think, since lS4S' she
has had surplus. The country was never before so well
coverned-her natiOnaes 30 well united. The crop 8
have for many years been very good, while man ufac
tures have generally prospeed and added largely 10 her
material wealth The free cities the continent how
ever exhibit greater progress than Vienna This adj
vaneemept has been largely made credit basis far
In excess Of the available capital New banks and hnan
cia associations have been started within the last few
years In great numbers and with the capital only In part
paid in The shares Of OF these have however adj
yaneed much above par. The desire for speculato n
is very great and serious fluctuations are the resu It,
The rumor of Napoeons death was sufficient to break
several banks and reduce the stock OF Of the best
from 10 to Is per cent. .- ..
There has been good deal Of discussion in the Ex-
change upon Secretary Boutwes last speeches aud his
expectation Of being able to fund the National debt into
four.and.a.haf per cent long loan. Tho general i'm.
Drpss under
cent. aud at this rate have DO doubt IL be done
but this only be- In my opinion after shall have
the rate OF 10 high at present the country could
MENTAL railway loans n our market and the s a5d Sevep
per cent gold bonds offered here by OF the American
up high rates Of money Some Of the American R
railway bonds we're ., at one time selling as
O. to g.. and get they are looked upSE o. good
a IgS sale While the y per- S cSSs are SaDs are
from s5i to o. The South German State oans which be-
per cents high as 0a to loi sell at present for about
par; while the n per cent loans only sen for prices
quite small and made mostly for railway purposes
and the dividends on the stocks pay considerably more
into account that there is small loss upon coupons
when sold here. The gold dollar is worth forms 2s
kteze 90 the holder Of American bonds loses ut least
kreuzers on every dollar OF his coupon; though IN buy
Calculated az II foras to the dollar II is truo that in
S49 the bonds were sold at Franki9Tt Ior le ana the
holders refused accept Secretary walkers oer OF pay
ment in 1857 at Ia Our debt was then quite small and
there not great demand for money as at present
One great drawback 10 the funding our debt at lower
Of interest is the continuous threat OF reputation
or payment In currency, by the Democratic party Gen
Butler, and others. Our politics not well understood,
and all such things have tendency 10 inJuTe our cred
Several Of our capitalists hold Florida ana Mississippi
bonds aud some County bonds OF Western States, which
do not pay, aud sinetmes fear similar resultnot ADJ
repudatlOn but payment in Greenbaeks taxa
ton Of tie bonds Even resolution offered In Congress
70 this effect calculated to nure credit par
ticulay now as our railroads are anxious TO sell their
| bonds here.
Our hnanciers were much amused with the fight going
between the factions Of the party one he Tweed
faction, composed Of the most corrupt perhaps in
the world and the other Jew Belmont Mr. August Bel
mont is represented the agent OF the ROthschds and
other great bOndhoders, who desire to have the bonds
paid In cOn according to their tenor The Tweed faction
are regulators. We have yet to learn That
the Rothschuds arc. ~ stated. individually large