The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-08-20
THRIFTY GERMANS.
Some Interesting Figures as to the
Money Thew fiaVe Invested.

Inc thrifty Germans are piling up wealth in
the form OF cash and securities al rate which
promises 10 make them Of great Importance as
a creditor nation.
In view OF the Information sent to the State
Department at Washington AM just given
puohciy' the course Of the German Govern
ment IN sticking close TO the British Govern
ment on the silver question IS not surprising.
Germany has 10 marked degree the same in
tefests mat Great Britain has in opposing any
tnihS Whlch tends toward Imitation. Herr
miguel, The PruSSan Minister of Finance,
% soc ~ 10 The report received by Seere-
Iaiy Gresham, estimates that The people OF
! tuSsld nave at The present time S7,O75,-
14o,ooo In stocks, bonds and loans. 1t Is
calculated that % per cent OF the wealth of
Germany Is invested in stocks and bonds
ana mat this will probably rise 10 40 or 80 per
cent In the next generation Professor
Sehmoler, leading authority on economics in
the empire estimates that OF the 49,600.000
people VINO make up the German empire
Z,0OO,OOO TO 1000 900 are in receipt OF in
comes from invested capital, and of these about
ohe-hal1 hold public securities. In Prussia, in
Ihe last len years, the deposits in the savings
banks are claimed 10 have augmented about
S++O5O.OOo per anDum, and throughout Ger
many probably $71,4O0,000 TO S95, 900,
from Wnlcn u Is inferred that The German ma
non is laying up from S476O0000o TO
S0S0,OOO,OOO annually, One-halt OF which goes
lnIO securities In the last len years there
have been in the ggregate about 1852, 100000
10 Sl.l9O,OOO,OO worth Of foreign aud 81 ,904,-
OOO,OOO worth OF domestic securities put upon
the German market.
with reference TO the question whether Ger.
many IL wise In taking so much foreign paper
Professor ScnmOler remarks that II is healthy
Sympi ON and indicates a thriving slate OF the
p opie ana that, although much money has
Deeh lost thereby, IL has been, on the whole, a
valuable experience and the means OF placing
the German stock exchanges on equal footing
with those OF London, Paris and New York, a
position which they did not occupy twenty-five
years ago. This has been of advantage 10 the
whole nation and to every workman IN IL. for
Inc reason that, with the emigration OF capital,
mere mas been simultaneously quckenng of
tue Industrial exports of the country and an
employment OF German industry aud enterprise
abroad. The losses of the country from in
Vestments IN foreign securities have been great,
Dnt they are argued 10 have beeu amply
offset by the profits realized. From 1860 To
1892 the Germans are TeckOned 10 have made
236,cOO, 600 in American and Russian secuTi-
Ties alone, independent OF all indirect benefits
which may have accrued 10 the general bust
ness OF the country through the connections
made IN the handling OF such stocks ana bonds.
Germany now holds probably $3.50 600. 900
worth OF foreign securities which is presuma-
bly, double what It possessed len years ago.
The interest and dividends on these add about
Sll9,OOO,OOO OF wealth annually 10 the cOun.
Try. This has marked effect on the well-be-
Ing oil the country aud It's trade balance. What
the country has lost In recent years through
unfortunate investments in foreign securities
has probably BEN abOuT $780, 100000, which,
as remarked above, has been fully compensated
Tor by gains m3de.-St. LOUIS Globe Democrat,