Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-04-01

tereSt would not even under ordinary
brisk business conditions allow the gen.
erai rate OF interest 10 keep up. But the
conservative attitudes of public opinion
IN operation during the past eighteen
months, while 1t has tended to raise the
rate at points of speculation on short
and risky loans In n general way il has
steadily brought down the interest on
secure and long loans, good municipal
bonds are taken at par at the rate of 5 to
y per cent. the city of Olny, New
York, having had an offer of 3 Der cent
for refunded debt of $3.50. eco There
fore, when taken IN this light. if the
capitalists of the country are in
constant expectation of the national gov
ernmenttu loose this vast and in
creasing sum To be not only added to
that which has already reduced the rate
to 3 per cent in the east. but To that of
the maturing corporation, municipal and
state Indebtedness which Is constantly
being paid or refunded at lower rate.
we may expect in the now returning
public enterprise and confidence in this
country To witness the lowest general
rate or interest in the history of the
English speaking peoples.
As IN the process of every prosperinr
industrial enterprise there are periods OF
increasing power, so there must be at
some time period of complete nonetiz-
ing or capitalizing of tins republic. A
period in which money for all legitimate
enterprises may be readily obtained on
good security at as low. or possibly a
lower rate than the lowest known
standard. That such period has never
hs. t.f., f.a,, ,.a4ay.t,.-.l
needs no assertion. In the development
of our vast internal affairs we have been
borrowers from Europe at necessarily
high rates of interest. But in the de-
gree that we could profitably Use our
credit we capitalized our country. The
late unfortunate civil war WAS directly
great loss and retardation, which an
unexampled craftsmanship in the near
future may directly and indirectly, no
doubt, turn to great profit by using the
surplus revenues arising from IL 10 do
such exact justice To every section. even
IN violation OF established precedents that
the perfect unitication and nationali.a-
ton of the country shall be estab-
Ashed beyond question or suspicion.
But whatever the means NAV be 10
dIsburse and set at work the surplus in
the national treasury IL will soon be-
done. And Notwithstanding the conse-
quent increase of the value of national
money with the increase of the popula-
ton there viii be steady decrease OF
interest on money. IL Will be lowest in
the older and less progressive eommuni-
ties and higher In the newer and deVel-
oplng ones. In seeking investments this
easy aud low interest capital must inves-
tigate every field. Real estate. as ever.
viii present the safest security. And
the most prosperous western cities first
and farms next must in the nature Of
things offer the best realty investments
and securities. The principal question
VIII be that of values. security and
prompt payment of interest When il
Is urged that western values. especially
those of the rising young cities, are spec
ulatlve, the objection will be- readily an
swered aside from increase in values by
adding the price of the ground to the
cost of that improvement which will
most certainly bring AN average rent Of
) per cent above all expenses per annum.
W hereyer this character attaches 10 a
II ought readily Ia afford secur-
ty for one-third of its value in "A cash
loan at 10 I per cent for two 10 five
years. The newer west must for years
10 come be borrowers of the older states.
either through the large local banking
firms or loan agencies. The former Is
most desirable and promises greatest Sc
'urity, which ought in turn To supply
heap money. The latter entails expcn-
i've and useless commissions, and ought
o give way To the banks
w. T.. HUTCHINSON.