The Southern Confederate loan.
--The $15,000,000 loan, ordered by the Congress of the Confederate States, has not been taken, nor have any opportunities been offered for taking it. The Government has refused the large bids of capitalists, and adhered to the original plan of distributing it among the people.
correspondent of its Charleston Courier gives the following information concerning it:
The bonds authorized by Congress for the support of the Government
have not been issued yet, though the applications made for them have been very numerous.
It is quite certain that they will not remain upon the market for ten days. Parties in New Orleans are desirous of taking up ten millions at a premium of two per cent, and application was made for the same amount by persons wishing to invest them in the establishment of a Cotton Bank in London
This offer has been rejected, and it appears to be the desire of the Secretary
that the bonds should circulate amongst our people at large, in order to give them the best opportunity for an investment of extraordinary security and profit.--In agreeance with this design, the minimum, bonds have been placed at fifty dollars, so as to bring them within the reach of poor as well as rich men. The policy of thus distributing them is especially commendable, as it withdraws them from the limits of speculation.
It is universally agreed among financiers that had a loan of fifty millions been in process of negotiation, it would have been easily effected upon the same terms.
The great interest manifested by leading mercantile men in this investment, and the entire confidence exhibited by them, is a fair index to the manner of raising future funds for Government purposes.