Year: 1869

No. Noss0s Ssrets. NtU Fork.

 E November 8. 1869. 10 omr CasIomsrs and Co,rssp ondsnts:

 The surprising development of our nation al resources and the rapidity with which the government is now enabled to reduce na- tional debt, by weekly purchases. render it apparent that the time is approaching when the Nve-Twsnty bonds may be funded at not over four or four and a half per cent interest.

 Meanwhile their high price, as compared with other classes of securi ties paying an equal rate of interest, is leading to general inquiry for more profitable forms of invest ment in which money maHb safely invested.

 Du ring the war the necessities and peril of the gover nmeut, and the consequent cheap ness of it's securities, rendered them so at tractive that, from this cause. combined with the .triotic faith of the people in their safe ty, they absorbed almost the entire floating capital of the country, and diverted attention from other classes of securities which had before been deemed sufficiently conservative and sound to meet the wants of the most cau- tious investors. taaL

 The government is no longer borrower. It no longer needs the country's capital but desires gratefully and honorably to repay it.

 The rapid accumulation of capital for in- vestm ent, and the reduction of the national debt and improvement of the national credit rendering it certain that hereafter but a comparatively low rate of interest can be de- rived from investment in government bonds is compelling the search for other safe and we'll guarded channels into which capital Tot employed iD business may wisely flow.

 The enterprises of Peace, no less needful in their time and place, for the common welfare than were the waste and cost of War. now call for the capital which the government no longer needs, and offer for it's use a remunera- ton which the government need no longer pay. and in some cases. 8 security as stable and enduring as the faith of the nation itself.

 The desire to capitalize the premium which may now be realised upon Five-Twenty bonds and which material decline in Gold toward par, and the ability of the c overn ment to fund them at a lower rate of int rest, may at any time extinguish. Is felt by m any holders who desire some satisfactory assurance as to which of the many lew-rriced securities in the market would afford the necessary safety to justify an exchange.

 The applications for information and ad. vice which re addressed to us daily, show how universal is the desire for this assurance as to what forms of investment more profta- ble than govern ment securities at present market rates, ais entitled to the confidence o investors.

 The pressure of this want has led us to feel the importance of directing our large exps. rience, and our facilities for obtaining relia ble information to the work of supplying il in some measure, and to offer the results o our inquiries to those who may be disposed to conHde in our good faith and Judgment.

 We are unwilling to offer to our frie nds and tn public any thing which according to ouI best judgment is not as secure as the nation. al bligations themselves, with which We have hitherto principally identified ourselves

 Since closing the GREAT CENTRAL PA- CIFIc RAILROAD LOAN. which meets all these requirements, V, have carefully exam ined many others, but have found no other which would fully do SO, until the following was placed in our hands;