The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-13

. ..ssJ > r.1s-ea .fl. II elT
Bankers and Dealers In
Government Securities.
.1ats p No. Nassau Street, NeW York,
l5hzju .brz
81 z.at eea November 8, 1869.
To our Customers and Correspondents
The surprising development OF our national re-
sources and the rapidity 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 four or four and halJ
per cent. interest. .i -al B.
Meanwhile their high price, compared with
othe classes of securities paying AN equal rate OF
interest," leading to general inquiry for more prof.
liable forms of investment in which money may be
safely invested. ----.f --. "a sr--e
During the war the necessities and peril of the
government, and the consequent cheapness Of its
securities, rendered them attractive that, from
this cause, combined with the patriotic fith 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 borrower. 1t NO
longer needs the country's capital. but desires
| grateful lily and honorably to repay 1t.
The rapid accumulation of capital for investment,
and the reduction OF the national debt and improve
ment OF the national understanding 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 othex saf
and well guarded channels into which capital moi
employed in business may wisely How.
The enterprises of Peace, less neediul in thei'
time and place, for the common welfare, than wert
the waste and cost of War, call for the capita
which the government no longer needs, and offel
for its use q remuneration which the government
need no longer pay. and in some cases, a securit!
as stable and enduring as the faith Of the natiol
The deslre to capitalize the premium which ma.
now be realised from Five-Twenty bonds, AM
which material decline in Gold toward par, an
the ability of the Government to fund them at
lower rate Of interest, may at any time extingusf
Is felt by many holders who desire satisactor
assurance as to which of the many iower-price
securities in the market would afford the necessar
safety to justify an exchange.
The applications for information and advis
which are addressed to Ms daily, show how univel
sal b the desire for this assurance, as to Wit
! forms Of investment more profitable than Cover,
ment securities at present market rates, are emf
tied to the confidence OF investors.
The pressure OF this want has led us to feel Il
importance of directing our own attention as BAN
| ers, our large experience, and our facilities
| obtaining reliable inGormation-to the work
/ supplying It in some measure, and to oner inc
suits of our inquiries to those who may be dis'0s
| to confide in our COED hith and Judgment.
We are unwilling to Offer to our friends and
public anything which according to our best jad
/ mept is not as secure ~ the national obligatio
themselves, with which we have hitherto principa
l identified ourselves. s as. -..1.