The Russian and the Indian Government have both appeared in
our Money Market as applicants for money, and have both enjoyed a higher degree of favour than they could have obtained some time since. An Indian loan of 5 per cent has been met by tenders on the part of the public to the extent of 7,550,0001., nearly 4,500,0001. having been tendered above the reserved price of 97 per cent, and 1,347,000/. more at that rate. The Indian Goverment, therefore, has at once obtained what it im- mediately needed on its own terms, and has succeeded in sub- stantially strengthening its credit.
If only one-third of the new Russian loan at 12,000,0001. has been offered in London, the fact that so much as 4,000,0001. should be forthcoming, is in itself a substantial proof of the change that has taken place in public opinion respecting the spirit and prospects of the Russian Imperial Government.
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