{"newspaper_name": "The New York herald.", "edition": "01", "page": "p2", "byline": ""}
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few years will suffice to create in the pub 10 nj I'd
confidence in American Securities, almost great
existed but this confidence will lead cap als
into the extravagan loans heretofore easily
by spectators from the United States Our State stocks
daily mprovingas securities for permanent investment
and such hold out great inducements to the capitalists
of Europe account of the high rate of interest CON-
rared with the stock investments Of other countries The
bankruptcy that has overtaken many Of the States Of
this Union will ultimately have favorable effect upon
the whole. The delinquency Of few has operated
check upon the others, and compelled them to pause in
the financial policy they pursuing Had the extra
VACANT expenditures made for several years by many
the States. been continued little while longer had
not Of them been ovcrtaken with insolvency they
were many Of the States that have by the most rigid
economy and abandonment of expenditures upon
their public works been able to promptly meet the in


erest ON their debts would have become bankrupt and
fallen with the others few sacrificed to preserve
the rest Had the States of New York and Ohio gone on
but short time longer in the course they pursuing
when the revulson that swept away those of less


strength and limited resources they must inevita
bly, have been swallowed up in the storm, and have


ranked with Pennsylvania, Maryland, and other delin
quent States. 1t only with the greatest difficulty


they able to weather the storm, and only by the
exercise Of the greatest skill in the management OF their
finances have they been able to sustain their credit.


Tho weekly reports OF the Bank Of England since the
adoption Of the system, have shown regularity of
movement never before equaed 1t is trne there has
been commercial operation calculated to test the
Bank in any way; but so far every thing works well;
and long the business Of the Bank continues in its
present favorable condition. the business Of the country
must continue prosperous