Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1870-04-16

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q. Tsnnessee Bonds--scnsatfona
W. and In the financial nrticle
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ing:
NEW YORK, April 7.-Another re-
marlxable event in these revolution
airy times promises before long to be
revealed fully and i'm practical form
to the public. For sometime past
Wall street has been much preplexed
to account for the steady and con-
tinOus demand for and advancing
price in Tennessee State bonds, In
the face of abundant reasons for re-
verse movement. These purchases
of Tennessee state bonds have been
made by strong aud influential firms,
thoroughly acquainted with the
financial condition and legislative
machinery of the State of Tennessee,
and possessed of great influence in
the State. All the bills introduced
into the Tennessee Legislature. and
all the influence OF It's officials and
the political machinery of the States,
have been, strange TO say, for some
time past enlisted in Grand crusade
against the credit OF the state and
Its bonds. Whilstall these damaging
measures and talking against Ten
ncssee State credit have been and still
are progressing, the singular anon
ally has been presented all the time
up to date OF a steady absorption OF
all the bonds offered ON this market,
and at advancing prices. Most OF the
sales have been by spectators selling
them short. The short interest Is
enormous. 1t Is said 10y shrewd and
weil.informed parties to the present
mal1lpulatlon tnat tne amount 0i
shorts Is from SboOO,OOo 10 Slo, UoO.
Inc brokers generally report That
they can lend all the new tennessee
ponds they nave, anu that there Is
constant borrowing demand Tor them.
Ihe OLD bonds at times cannot be
borrowed at all. Many nave been
shipped 10 europe.
Associated win the lending DO
mestic nrm5 buying these tennessee
bonds are some foreign houses with
large means.
The solution or this remarkable
anomaly Is stated to he as follows,
and IT has been up to the present time
carefully concealed from the public:
Inc tennessee state debt is III
numbers about S40, o00,0v or this
amount the leading railroads OF the
State are reported to have bought
about SlO,WU,Wo OF the new bonds,
and are still buying more, with which
they VIII cancel their own obligations
to the state and that amount of State
Indebtedness. This operation will
reduce the State debt to about $780,
OOO,0
IT Is reported that the necessary ar
rangements have been made i'm the
proper quarters to insure the passage
of a bill in Congress to reimburse the
loyal State of Tennessee for its losses
during the war, by the Federal gov
eminent paying to Tennessee &c.,
100000 to S15,O00,000 in cash. This
is claimed as merely Justice, and OH
the same grounds as the grant Of
money which was made by govern.
menu 10 tne olate 0l missouri ioi
The State debt $40 600 ooo or goo
OO0, 900, and will also relieve the
State from all floating obligations.
wien tnrs Is zone tne STATE Legs
similar 70 those of South tCarolino
to pay the interest on the bonds in
coin.
ne pl pm, y, oii this SIsams,c tra nas
nc Tho honIs will roni, nnt,,ro,I,
alongside of Missouri skies at 92y t.
W: The natural wealth and enter
Pr,se VI We lel.,esseeu,'s are wei
the exnerieneed politician' tGe cnor
nous political power which can b,