The New York herald., 1870-09-15
SnceJan 1S1l7, ,69576s $l34, 4,l20,s4l *127, IA l36
JOUR CREDIT IN EUROPE.

The following article il from a recent number Of
the London Investment Circular on the subject Of
american Securitles:''--
We have for some time past directed considerable
attention to American securities and investments,
class which is az present by many persons unde'
servingly neglected. and, consequent on the whole
sale and indlscriinInating ons.augpts spasmodicay
administered by the TINES, overlooked by those who
desire rcmunefatiye, and at the same time SAFE,
channels Of investment. Impressed as VIC are from
close attention and from sources OF independent and
reliable information, with the value OF many OF
these securities, which are either unknown in this
country or overlooked generally we shall nom time
to tune perform duty which Is incumbent upon
ui by setting out the grounds on which higher
| posed IN them. That particular railway IN Il par
| t!cular state, has been plundered with the con
| nlvance OF corrupt judges In New YosK tand not
| eIsewhere) Is unfortunately irue and generally All
! mltled The contrast, however, between suci
judges and chose throughout the United States il
! siiown IN the fact that no such complaints have
been made against the Judges IN any Other state OF
] the Union. In government, State and corporate
1 bombs nfst mortgage bonds OF railways, and
| IN other directions, opportunities Of investment
OF great excellence are TO be found. Indeed there
| iivetweny bonds equai in security TO Consola. In
the rapid Increase OF their population wealth the
United States have great advantage over any other
nation. The increase III Lnelr numbers during the
Last decade was at the rate of 35 per cent annually
The rate Of increase or tho United Kingdom does
exceed ono per cent annually. In France II is SIN
! less. The same may bo said OF most European
countries. The burden o. taxation In them, cOnsc.
Quentiy, IL not sensbly lessened eacn year but IN
creases In Intensity from the poiitica cornpllcnons
IN which they are constantly involved. There Is no
probability or expectation Of the payment Of our
| public dett on the other hanG, tho public debt
| OF the United states Is regarded in the light OF a
| commercial obligation. for the Constant reduc-
| fon and ultimate payment OF which adequate
| PROVISIONS are 10 he made AMI maintained. The
same parties that contracted rhe debt bear bur
den Of II. II IL fet that there ~ 10 more
perpeuaiing the burden Of pubic than Of private
debt No sooner were public debts contracted either
by the nation or by the States than provisions were
| immediately made for their redemption. The debts
Of the former, contracted In support OF the War OF
Ind peDdence, as well as thag of 1872, though
Durdensome, considering the means OF the people.
State debts have, az rule. been constantly reduced
and many 0f them wholly paid on. The traditional
! policy of the people, which springs mainly from
| their form Of government, when united with ample
means which are increasing with marvellous rapid.
ity ~ sure guarantee not only thar the interest
but that the principal, viii at early day noCwifh-
! standing It's magnitude, be fully paid