The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-04-10
National Credit.


sale of government four per cent. bonds.
The Secretary closed out the remnant offive-
twenties, amounting to over 10000. 900.
bearing six per cent. The subscriptions for
four per cent. on the 4th were the largest
ever made in single day, and the amount
the largest ever taken by single person, or
corporation. The Times says: THE news
reached Wall street so late that very few
persons knew OF it last evening, but among
these it created much excitement. 1t was
generally regarded as calculated to strength
en- the credit of the Government immensely.
The Bank of Commences subscription is the
largest single one ever made and accepted in
the history of the United States. The sym
dictate, some Of whore members are con-
cerned in it, did subscribe for $50, 1000, 900 of
bonds upon one occasion, but only took
$40, 900, 900. That was tie largest up to
this time. The Secretary OF the Treasury
has issued call for the remainder of the
5-20s of 1867, and another vii! be issued to-
day for the whole of the 5.20s Of 1868. The
two calls will amount to $50, 565, 700. The
aggregate calls siuce January LIST amount to
$349, $50, 200, making an annual saving OF
interest of s6,69l, 34."
Washington dispatches OF the 4th say =
ssThe miscellaneous subscriptions to the four
per cent. loan to-day aggregated $685.
700, and were followed by a subscription of
$4O,0O0,O00 from the National Bank
of Commerce of New York, leaving
but sl3,0)0,0)0 to =, sold or &C =
count of the $40 consols of 1867 and
| 1868. The balance was at once taken by
| closing out the two series, leaving no other
| bonds subject to call at the present time ex-
cept the 1910 five per cent. bonds OF 1864.
which will next be called and redeemed in
the proceeds of the sale of the redemption
certificates and additional sales of the four
per cent. bonds. The outstanding 10-40
bonds amount to sl94 $3.50, 300. About 1884,
000. 1000 six per cent. bonds will be subject
to call June 80, 1881. The 10-40s amo unit
ing to $l94, 100000, will doubtless be re-
funded in the interim.
The Secretary of the Treasury issued this
afternoon the nnety-fifth call for the re-
demptien of the $40 bonds of 1865, consols
of 1867 The principal and interest will be
day of July, and the interest will cease on
that day.
| While these results are being effected by
! the wise administration of the Treasury De-
partment, the credit OF the Government
strengthened. and general business stimu-
lated and confidence inspired, public atten-
ton is attracted by the combinations now
going on between the Greenback element
and the Democratic party, with view to a
common effort in common cause, and that
cause the destruction of the financial policy
which has brought about this favorable con-
dtion Of things.
We notice that the Greenback candidate
for Mayor of Chicago was elected by COM
bination with the Democratic party. We
see that the Greenback and Democratic Con-
ventions to nominate candidates for Govern
or and other State officers are set for the
same day, tine 4Jh of July, in Ohio, and
negotiations are going on to effect fusion
of the two parties in support of the same
candidates next fall. In the recent vote on
the army bill in the House Of Representa-
tives, all Of the Greenback representatives,
except two, who voted, united with the
Democrats, although the tone of their
speeches was in opposition to the spirit and
policy of the bill as it passed. What under
standing or influences brought about this
sudden coalition are not given to the public,
but that there was an understanding is rea-
sonably inferrable from the statements
publicly expressed before the vote was ia
ken.
These indications are but the picket-tiring
pointing to the attitude an relations Of par
ties in 1880. They are the advance steps of
the Thurman campaign and the formal chal-
lenge to the Tilden interest, in the Presi-
Dental programme. The Ohio idea, as
represented by Mr.. Thurman, of warfare
against the National Banking System, and
destruction or the financial policy OF the
government, as refectedin the accomplished
facts to which we have adyerte& above, and
an abandonment of both Mr.. Tilden and
New York, New Jersey and Connecticnt,is to
be the basis of the Democratic platform. TAX
ing encouragement from the coalition which
! wrested from the control OF the Rcpubli-
cans the city of Chicago, by the combioed
| vote of Greenbaekers and Democrats, they
| would calculate to secure votes in the North
| west, by similar combination, to offset the
loss they must reasonably expect in the
East, by reason of such fusion. The fight
| will first be in the Democratic party, as be-
tween the hard and soft money elements,
with Tilden and Thurman as the represen-
tative men. If Thurman is successful, they
| will expect, with solid Democratic South,
to capture enough Northwest States to elect
vorite, still holding to the Solid South and
Indiana, they will base their hopes upon
those Eastern States we have mentioned
New York, New Jersey and Connecticut.
When the difficulties in their own party
have been settled as between the conflicting
policies and candidates, and the guage Of
battle thrown down, they will have the SOL
id and determined front OF the Republican
party to encounter. That party will 60 in
to the Presidential contest 0: 1880, with a
record for craftsmanship that will at once
commend it to the business classes of the
country, regardless of past party aflilia-
tons. The interests involved are infinitely
above the devices of machine politicians. and
encompass the financial integrity and COM
mercNl progress and prosperity of the ma
| ton. The achievements OF the Secretary
of the Treasury will constitute the main
feature of the Republican splatform, and
with an unbreken column in its support,
supplemented by the business representa-
tives who have heretofore co-operated with
the Democracy, will give an assurance OF
victory that will inspire confidence through
out the country, and SO draw and crystaize
the floating vote, as to make doubtful at
least some of the strongholds of the Demo-
| cratic party in the South.
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