The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1893-01-03
|STATE LOANS
ND THEIR INTERE94'

Nd THEIR INTEREST
D,roR p. c. ADyEETrszR-sir: a
th trN 81 the Legislature, who is
rested in financial questlons' no ~
me officisily with q request !, &c
IL, Inc o Snme. information on the
lllnn s Eats of Europe and on the
h. 9oans there made. As my reply
- facts aud figures not gener
7 no here. I think that a re-
cow of it will be interesting
-FOUR readers.
THE MONEY MARKETS
are Is no doubt that London is
bne great money market Of the
4 for all kinds Of enterprise, and
!, atural resort of many foreign
S,,nments in their financial needs;
large number of International
and other financial operations
been made. ana are constantly
made in Europe, entirely out
FL London. and money has often
easilv raised in other markets,
II could not be obtained IN this
center.
side of London, the most i'm
irtnt financial market Is Paris,
NAV not be amiss here to re-
he wonderful fact that when the
81 Government, under Theirs,
ed to pay off the German in
;tv and to raise therefor the
UNPRECEDENTED sum Of five bill
Of francs. that enormous
Ia which was subscribed to
than fifty times in the whole
was raised more than ten
in France alone, at the very
when she was supposed to have
crushed under a terrible defeat.
again. Berlin, Frankfort and
other cities are also considered
oney centers. where financial
lions can be successfully trans
though it is proper to note
bans started in any one of these
sial eenters are generally ad-
kd and opened on the same day
The others. Yet, Paris alone,
l,n Ia its own resources, has many
supplied money to countries
had failed to obtain 1t else
great point. in order TO obtain
s in Paris. Is to inspire
nHdahce by presenting straight
ra information confirmed by
french representatives, and
A Guarantees from the borrower,
HE reason that, in Europe, the
DC. mot the bankers,-are the
7eg lenders. and that this public
I'm deceived by so many rotten
In loans,-Spanish, Greek, Pc
an. Paraguayan, Egyptian, Turk,
fuan and others, without men
linz the recent home scandals Of
mama Canal,-that it has
qSa Justly suspicious, though al
fascinated by calls from for
eDuntries. OF the German
IS markets, only little needs 10
lad. because for all our purposes,
ean be said to follow pretty
Is the Paris market.
.-crRREST RATE OF INTEREST.
/; Europe. the current rate OF in
Il for Government loans and ali
rprises of q safe nature, can now
ID b be universally 3 per cent.
ntT years ago, It used to be 5
cent, hardly ever more; but
e las grown there so abundant
cheap, and has accumulated to
pr1portions, through the thrifty |
saFings of the people which /
!, fe power of Europe, that the |
IsitT Of adequate occasions for |
sE1e nts has compelled investors /
radbally learn to be satisfied /
1es than 5 per cent, and the
'of interest have slowly been 1
ding down to such a point. that |
scr be of the richest countries of !
n have been able TO still fur
n nee the rates of interest on /
hlic debts, as for instance,
In to only . per cent, and
a to % per cent, instead Of
IL Fell-known and time honored
: BIT. consols. France, whose
pdard used to be 5 per cent.
&C. only 3 per cent. standard;
Ie her bonds are nearly always
er. thus rendering probable
r reduction of interest, in
ea future. The other principal
: hearty all of which have
lcs ns in Paris, within the last |
aa1 carry their obligations as
W. Austria, 1 per cent; Bra
per cent. recently converted
Hnd a: new Egypt, 3! and 4;
the United States. 4; Fin
new Greek. 4; Holland, 81;
: W 4 and a; India, a; Portu-
Ind a; Norway, g; Sweden,
rland, 81; new Turk, 4 per
ee Some of these States. it
ay still have in circulation
B higher denominal interest.