The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-06-27

OF interest Will satisfy prlVAte lnVesIOth
in this country. Granting that the ten.
denoy Is everywhere towards lower rates
Of interest than formerly prevailed, there
Is nevertheless no ground for believing
that we have reached a point at which 4
or 3 per cent may be regarded as q nor.
NAL rate Of interest even in the Atlantic
cities. Persons may put into a per cent
bond money now idle, and which they are
AFRAID to risk in corporate securities, but
with the first sign Of business activity
this contingency will disappear. Il will
be easy then to obtain profitable employ:
ment for money, and the average rate Of
interest in the older States will be near.
err z than 4 per cent. In the newer States
1t will beseveral points higher.
1t is not often that "busineIs notes"
can be interpreted with poetry, but some
chap Of financial turn Of mind has
ground out the following verse;
How dear to my heart are The coins Of my child
hood,
When fond recollection recalls them to view;
Dads Bcanty gifts 10 an ooct1lonAl mild mood;
The harlly-Ua!nsd "PelF' which my infancy
The oiJ:i,ihiOnSd copper with green rust cor.
The .mooth;,idcl "l.vy," and slxpcnos. Snall,
The pllAAtsIed "quartefA,h by long use etolel,
The old silver dollar, loved better than ALL
Tho old silver dollar, our dads legal dollar,
The bright, shining dollar, loved better than all.
InaSmuch as We have given a specimen
ofinancial poetry it seems proper enough
to let tho Detroit Free Pres humorist
have hearing in this connection for one
Of his financial jokes. tits US follows:
Brother Gardner suddenly put in an
appearance on GriSwold street yesterday
with note OF hand OF the face value Of
$500 which he wanted discounted. lie
made strong appeals to all the banks, but
in vain, and he finally mounted the Post
office steps and called out:
"Gem'len, here anna note Of TO- hundred
dollars, due in twelve mo- days, and I'll
sell 1t for two shillin!"
Several persons asked to look at the
note, which wns signed by an unknown
party and not drawn up in due form.
III this man Is able to pay the value Of
the note why do you offer it for two
shillingsp asked one Of the group.
well, dere am sev'ral reasons, SLOWLY
replied Mr.. Gardner. at doan' seem 10
me dat de man can payit. 1t doan' seem
to me dat hell be aroun' on de day it's
due. Hegin me dat note for an old hoss
and de boss died on him in about IN hour.
But, gem'len, de great big main reason
why want 10 disaccount dis note ia de
fact dat Mrs. Gardner has sprung lawn
party on 10 me fur dis evenin' w'dout a
word o wAfRin.' All de preperashuns
We haz made dis fur Is to borrow six
CHRIS an n spittoon, and lie got to aacri.
flee dis note TO git do bakers bread an
herrings."
According to the New York Public
the bonded debt Of the United States and
the legal tenders are but small part OF
the mortgage placed upon the property
Of the citizens OF this country since 1861.
In the initiation period still greater bur.
dens were imposed upon us, and, what
is worse, a habit acquired Of giving mort.
cages. The railways, canals, and tele.
graphs Of this country are mortgaged for
about s9,5OO,OOO,OOO, on which The in.
terest is about sl75,OOO,OOOa year. Our
municipalities are mortgaged for an
amount that cannot be ascertained defin.
itely, but is about 81, OO0,O0O,0OO. Our
local governments cost TO run about $780,
100000 annually, equivalent to mort.
gage OF $1,000, 100000. The property in
the country was estimated in 1870 10 be
worth $4,000, 100000, II this vast sum
yielded G per cent annually it would not,
according to the estimates made by the
Public, be enough to meet the $3.50, 100000
year that the National, State and local
governments costs, the costs Of the rail.
roads, $500, 0O00 year, and "the indi.
rect and unknown cost OF vicious public
service, a dishonored currency, bad
tariff, and an excessive determination Of
labor to cities"