Savannah morning news. [volume] (Savannah) 1868-1887, 1885-04-28

A Great Advertisement for Georgia.
The decision of the Governor rejecting
all the bids for the new bonds or this State
will doubtless meet with very general ap-
prevail. The New YORK parties, whose
bids covered all the bonds, are disap-
pointed, probably, because if either bid had
been accepted the successful bidder would
have made a very profitable investment.
/ In small lots the bonds can be put upon
[ the market, doubtless, at a price much
higher than was offered by either Mr..
Moses Taylor or Mr.. Fred. Wolfe.
1t does not look as if NJ. Wolfe expect
ed that his bid would be accepted. 1t was
not made in accordance with the terms OF
the advertisement, aud It's acceptance
would have exposed the Governor to con-
siderable criticism. \ very large sum Of
money would have been put into the trea-
sury several months before it could have
been used, and there would have been two
sets OF bonds drawing interest for con-
siderable length Of time.
OF course the Taylor bid could not have
been accepted after the Wolfe bid had
been rejected, because the Wolfe bid was,
all things considered, the best bid. The
Wolfe bid showed that a better price
could be obtained than that offered by
Mr.. Taylor. It is the duty Of the Gov
ernOr TO do the best he can for the State,
and, therefore, he was compelled to reject
both the Wolfe and Taylor bids.
The State, however, viii not be in the
least embarrassed by the rejection Of the
bids. Enough bonds can be placed on the
market at once, at price greater than
that offered by either Mr., Taylor or Mr..
Wolfe, to meet obligations which mature
within the next few months, and before
the bulk of the obligations, to meet which
the new bonds are to be issued are ready
TO be paid new bids can be obtained.
The Governor is now satisfied doubtless
that he will have no trouble whatever in
placing all the new bonds at the proper
time at price that will be satisfactory
to the people of the entire State. The
bonds are in demand The credit Of
Georgia is all that the most enthusiastic
Georgian could desire. The newspapers
throughout the country have expressed
great deal of surprise that there was so
much confidence in GeOrgia's ability to
meet her pecuniary obligations promptly.
The expense to which the State was put
in advertising the bonds is not worth a
moments consideration when it is re-
mem bered that the bids which were made
for the bonds have given the State the
biggest advertisement it has perhaps ever
had. There are thousands of people all
over the country talking about Georgias
credit. 1t was not generally known how
good that credit was. In the North and
West there was an impression that the
credit of all the Southern States was be-
low par. So much had been said about
in connection with a number
of Southern States that the idea got
abroad that it was best to have as little
to do with the bonds Of Southern States
as possible.
People who have money to invest, who
have never regarded investments in the
South with favor, will now begin to look
towards Georgia. They will argue that
a State whose bonds command premium
must be well governed, and that capital
is safe in well-gOverned State. There
is another thing that viii suggest itself to
them. II is that taxes are generally low
in States whose creditis good. 1t is fair
to presume, therefore, that the recent
bond bids will prove to be Of immense
benefit to Georgia.