Year: 1863

some excellent advice to those who wish
to invest money. II is we'll for all who are
in funds to heed tho counsel -" Though
money has been temporarily scare, capital
is abundant; and the recent tumble in the
stock market has brought capitalists to
a realizing sense of the unreliable charac-
ter of many Of the securities deal. in. 1t
is greatly TO the credit Of the Government:
that its loans, of all the securities daily
dealt in on the market, have maintained
their integrity ofprice better than almost
anything else. Its Five-Twenty year six
per cent. loan, the interest on which is
promptly paid in gold, has been subscrib-
ed TO, all through the pressure in the
money market, at an average Of more
than two millions day. And what is
not the least gratifying fact in connection
with the daily large subscriptions to this
/


podular loan, scarcely any of it is return
ed TO the market for sale. 1t is taken for
investment, and is held with unfaltering
confidence in its reliability. And why
should it not be? II is seen that the
Government now, after two years Of the
most gigantic war the world has ever
known, experiences no difficulty in COM
manding the necessary means to prosecute
it, or in paying regularly the interest in
gold as it falls due. If this can be done
while the war is being waged, who can
anticipate any difficulty in readily accom-
plishing il when the war shall be ended? a.?
What better investment then, for capital,
than the Five Twenty Government
loan? But if any doubt, let him refer to
the statistics furnished by the census Ia
bIes of the various nations of the world
The facts which they present will prove
the most satisfactory mode of dispelling
the numberless gloomy apprehensions
which are being continually copjured up
by those who are disposed to exagerate
the extent of the calamity ocoasioned by
our rebellion. A reference to the state
of most of the prosperous nations of the
old world clearly disproves such posi-
ton, and shows that the highest condi-
tions Of national advancement have not
been materially affected by the extended
wars in which those nations have been
immemorialy engaged, and that heavy
national Indebtedness has not proved an
unmitigated evil.


/" For instance, Great Britain, France
and the Netherlands will undoubtedly be
conceded to represent the highest prosper
ity that has been attained by any Of the
European nations. And vet no nations
have been called upon to endure feIcer or
more prolonged wars, domestic or foreign,
than they. The effect has been, unques-
tionably, to incnr an enormous national
indebtedness; but neither their wars nor
their indebtedness have had the effect to
destroy their elasticity, nor to check the
progress Of their general prosperity. The
result would have been different, probably,
if these nations had been falling into de-
cav, instead of being, as they really were,
in state of development; and in this re-
spect their case resemble our own, with
enormous advantages in ourfavor. These
nations, while undergoing the trials Of war
were oppressed BY the evils of an immense
exodus Of their people, caused by the den
sity of their population, impossibility 10
provide occupation for them, the low price
of labor, and the scarcity Of territory
Compared with our own country, they
possessed slight room for future develop
ment; they were settled in every part,
and no vast territory lay invitingly open
to encourage enterprise and settlement
Their great problem has ever been what
to do with their surplus population, which,
in its turn, has sought new fields for ad-
venture and self support in countries like
our own, where an unlimitable territory
waits to be developed, and where incalcu-
liable recources invite industry and energy.
The encouragement to be derived from
these facts and comparisons of circumstan-
ces is very great, and to the mind of any
dispasionate reasoner is conclusive that
the course Of this great country is onward,
and that its credit Will live uuimpaired TO
the end"