The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-28

cent scflp OF tne North German Confederation
record is quoted upon the London Stock Excnang
! 700 pau ~ az Inc French National De
zen hn Sc ses ,1an commands IN the same mar
ncS uus oo o., anu poiuIe tue war IL Is known ina
snu od'y " ais pau nuirectly iOr the money Dor
nor ce vt Tn improvements as ni9n rate o.
a,t ,oan ~ 1uHo price oI the RUSSIAN pei
oa" 2, io.o 10 oa1a; OF the spanish per cents
"wcrs1var m,nas HsioMIsgage On inc ceieDratee
Inc fah Of the Toyernmsn; W. ~ :.
nor canta ~ ,soa oa ~ ~ oi roFtuguese
pc ur eGI no spo ~ ss OF Italian per cents
nacco ~ euse % INC State revenues rom 10
1sa1 az. 4 sp"usv pei cen.s oy' Sneau os VI
ro'n, &c; ass,acnusetts serng o's interest and
e. 81 p1 ~ pi ~ ~ t0a s 70 70; Louisiana Us
~ "o WIZ ,as DC seen tnat the average Iates
,nant ~ ,., 1pea markets on inc Dest govern
10 thirty Years anmro uvv, pe,ioa VI arO twe1y
other hand the rat for Ionns ~ he nest csracie
ciatons ~ the say ny ovrpo,aons Ut pIsaao msso
hrner TINS Rnss,an raia @ s, sV n, 10,
the e1rnnn~s ~ tho So rn l.n y. e eoSertS. am
are SavnrIs u inues ulo p.eugeu, hu n ~
ce EalEpe sel ior about 90 80; Egyptan
cant genera m9 ny oi @ % iso wv tns ~
Mlssonri arst msIfgaga pr1GG,e honda stnr.
sinking fnnd nar ceuts az n ana pennsyI'
ynma apaad poe cent CO. sts
nS tcoont t 6ss te L Lon,
smhlect esm ,tes that the averare rate ~ naa ~,
on majority Of the foreign S or ceonia stocks now
ownad ~ Grest pr;ta ~ i ~ y, rn .v =. LOW
Der cent as min,m and nlaceS the sevc ~
them at not ess unrr RI M % ssS oon oon "
Sn man for fho rafo ~ t,,tnr eto
Enro ruc ae1 rot Inc present saie interest 10
tertainiv not or charocer r. y =, ne ase
ama y, ay ""er rue out ramer leaa 70 contrary
anirt ~ aho oa o u,ro m W. .enuemoy anu
npdertaknr Of or sn% Ie
tnda and cbaranra M . " suen aen
worlS an 1or % 10 reure une capital o. the
amn,a ~ ,ha pac,I p, n Sn c suon 9r ex
cens 1nnel anI ,he 1meI ons
IN nasien Em u VIZ n plojecteu ialWays
and Western Mner,ca anu even inuia
rnnse m"nra aisi anu ounIeinporaneouSly WIN
W oro'o u,Pf th aemanus LOT tne loan
amSh'na aud ha ta, aru use =, Ia',roaus,
dawn The narr,.s or not,onoH,iap daso prohen
nannIa ,,o ~ alu' ny uinsnH
corI nvosG l'o close commercial
war; prh na au oohneouon, nave maue as u
in,erot o tv, tn a " tenu 70 common rate OF
inns ~ % cmon oeu iroui conmhenisni always
tins demandtnc result Legitimate Industry - and nd
{nr Europe nc 1or .a military PURPOSES promises
~, ~ Ivy iaasei, ~ VIC mnleuaLe iutufe aS IL
mas Dee1 III .ne recent past me condition OF Ger.
in,ay, nasneu WIN victory ana conscious OF almost
ing lor revenge, IS perpetual menace against peace
ana, as already shown by the action or Great
greater preparations anu
So far, then, as the financial condition of Europe
money loaned to or In the United States there is not
the nrSt particle OF evidence tenQlng to show that
any lower rates than those now prevailing can Tor
Coming next to our own country we fini thai the
new national I've per cent loan mas thus far been
the motive Of thereby ayertinI intmre iegsiation
hostile to themselves, end not proved III any de-
gree attractive to the general public aithOugI the
Exemption OF the loan from ali local Tn yaftnn ia
nominally or really equlyalent TO an additional one
LaKabiy indicates that IN the opinion Of nnr own
capitalists, money is not to be commanded in the
Immediate future on time and on the very best of
security for anv less rate of interest than siY nr
seven per cent, with higher rates for borrowers
Dfering less favorable conditions IN rcspccr to
There "a also another circumstance which has not
heretofore been discussed publicly and specIHcaIlv
which hasor years past tended to raise The rate ~
interest I'M tne leading financial centres or the intted
States and which Tor years to come viii continue m
operate in the same manner and that is, the INSULT
,iency or original capital on which industrial on
erprises are organized and started in tins country
This is Particularly the case with corporations en-.
heir whole nad-un caitaI and not nnraoue UIn
additional invested In permnnent Az |
or contingences in business and al q bas,s fnf
active operations. The consequence is, that
when times are dull and sales slack, or when de.
cline In the prices or goods or OF raw material rem
iers 1t eXpedient that stocks should be carried or
these companies forced into the mar
kers and money lenders, the rate OF Interest gener
ally is forced up spasnoulcay, kept ngHer Iuau ~
otherwise would be, and everywhere rendered un.
remedy until legislation ceases 10 encourage inums,
Trial growth on any other tnan sure anu na'ur''l
8. Saiety ana rtsE or cdp'.0t nnem aoar r NO
matter how great may be the resources nc OF conn
",
disregard OF law or ol tne oongations , " com
tracs, or any talnt upon tne noinini n,o
Of justice, Whetncf commllteu wl. .uo sauS.iVn
Of the whole or any portion OF tne community, Is
certain 20 be paid ior W such people vi Coansy ~
an increased ate o. interest upon .u osp a.nn
they may desire TO borrow: Anu no"evci ulsag,eo
able IL may be- A. Is ne'erlheeSs tuc as oo n1p
tatlon OF the United STATES elter III We pas. VI pdE
sent has not been ana IS not now III an respeC Gus
what should BE- HOW repuuhIon III sue Pa St ts
affected the supply Oh CAPITA. ~ ,U ui,ou Ssee
from abroad ts too wen known 70 re4uire Ies.ate.
mont; but 1t should De clearly unaeTs.Oou ,as ,e
present Reputation oy ule oates VI ioWa au MILL .
nesota OF certain nnu'ies, .me ,,res ia Htatas
ON their bonds or tne bonus OF raiways po,sessins
state guaranees-al commune sven yee W aieto me
credit OF the whole county anu cohseIu,nsy " GU
hance the average rate OF lnterest Anu Viis IS an
influence also the remoVa Oh WHICH ~ not W NC ei'
fected right specify: ., 49,. 49, 800,
4. lii. Alasa walkers asseft.Sa Inae t.e ,nrna,
formty anu general avela.g " luz i she sanness
In any country depends iurther upon the soununess
OF the currency made use OF IN sucn county ~ ~
enecng exchanges. inds lmdupsan,e suppor. ~ u,