indulges in day dreams respecting the ‘"popular loan,"’ which would be worthy of Aladdin.
He winds up one of his latest articles characteristically, thus: --
We should not be surprised if, notwithstanding adverse influences, there should spring up a great competition from abroad for our Government securities, paying, as they do, an interest of seven and three-tenths per cent. The Bank of England has reduced its rate of interest to four percent. The British consols, paying but three per cent., are sold at about ninety-one, and the French
rentes, paying four and a half per cent., are sold at about ninety-eight.
The advantages of our Government loan, as well secured, certainly, as the national debts of either England
, are obvious to the simplest mind, and it would be something very remarkable if there should not be a very considerable investment in them on foreign account.