New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-06-29
THE PROPOSED FUNDING BILL.

Late kilograms from the United States adj
e s that serious steps have been taken In reference
10 the proposed funding OF our National Debt Ihs Is
quite unexpected the leading American Journals had
expressed their opinion that definite action Wouu DO
taken this Session The Committee OF ways anu means
at the head which is Gen sohenck has recommended
per cent loan at 30 years. be issued in bonds as 10"
a. $50 and in multiples Of that There is no question
but this plan is tagonstc 10 the views OF many OF the
most promneut American nanciers, who do not believe
that the loan be placed at 80 low rate OF IIef
issue OF the United States there can bs
question Of the improbahty Of ~ being spsCro'a
immediately although the National Banks would lake
large amount II, on the other hand, Il 10 ~ tnoH
open to foreign investors, through authorized 1otSi
ment agents, in the principal cities oi EUROPE, VIZ ~
very popular. To make this certain, however t
interest should be made officially payable IN the NOS
prominent financial centeTs Inc necehl ylSlt 20 nh
ingt0n OF the head OF one OF the wcknoWn Paris D5k
ing houses has doubtless had much 70 do with the gsG
sion taken by the Committee Of ways ana means I'M
gentleman claims to have carefully studlou the iuess
from foreEn point OF View ana NE t 6 vas re-
the Committee when was gwen NJ Erca, tis'n va IN
ceived with great attention He says that, once wen
distributed in Europe in the direction where such Bonds
yestors thew would remain undsturbcd by B0use spec
ulators on either side OF the Atlantic II Is possible that
in proper hands this proposed loan OF S0WoDS wo ,
De entirely placed in Europe, thus preventing Tor ls
next 30 years any sudden demand Wh1n WOMB h1uu
large rettapcrs of funds 10 this side. The great value
Of capital to country at the present ue II 700 aPa
rent to require any comment ana every sltp "a
will give II TO ms al "a reasonable OF interest must ne
OF great Importance. Germany Is looked upon az tne
must depend for the largest demand; 10 TINS opHlou'
however we take exception, and believe tha once c,
y brought before the people Of France American invest
neuts would also here the order OF the DAY Any
visitor 10 Paris who Will read the financial adNeil,'
mens Offering various classes OF new securities ana VII
then visit the different bankers upon the day OF iie VIII
find long string OF people waiting anNOusy 10 tnteI
their names subscribers in some instances ~ oy Uc
or two shares Where agencies are opened III lhe sd.
towns of France the desire and aVdty 10 Invest 10
shown.
We certainly incline TO fAe opinion that properly place.
before the European public the proposed loan viii
rnly absorbed and eyery dollar OF II taken N thu
market will leave Just much the more capital at Dome
wheee Ii il needed The LOaGOR Times exp nds fArg
amount Of thunder to put down the growing desire
invest IN riean Securities IL has heretofore beeT
unite successful. bat unfortunately at loss 10 the ~
Vestors sum, which VA pOcketed by Ger
man bankers, the Elgshmen selling out Fye-twen ties
tn invest the Credit Foncier MarSeiles Land Com
oany and other London financial operations where they
not Ouiy what their securities cost them Dut Ia many
ces all their fortune besides. The present tactics Of
IT, London IiDioS 10 attack American railway IN
verfments snlY I'm its financial columns, but through
it, Paid correspondents in the United states. The vaut
of ,Ound railwsy security Is easily ascertaned III
the Emitted States in Europe and although many en-
terpTs may be pTsmatuely brought forward, yet the
growth of country Is rapid and gig antC that the
worst Investment in shat line may prove Of yal1e To the
future holder. We trOst that the Funding sl VIII
BE- grd make il favorable to small Investors
Europe and then that il shall Congress 10y large
maiority evidence that 1t il the will OF the people
THE American Register Paris, June IL.