The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-08-24
rARIFr 81 oERMAN rEopLE.
Billions OF Dollars In Home and Foreign
Securities Held In the Fatherland.

Billions OF Dollars In Home and Foreign
Securities Held In the Fatherland-
The thrifty Germans are piling up
wealth in the form Of cash and Sc
curities at a rate which promises to
make them OF great Importance as a
creditor nation, according to q
writer in the St Louis Globe Demo
crat- In view OF the information
sent to the state department atWash-
1ngton and lately given pu bllcity,
the course OF the German govern
ment is sticking close to the British
government on the silver question is
not surprising Germany has to a
marked degree the same interests
that Great Britain has in opposing
anything that tends toward infa-
ton Herr Miguel. the Prussian min
lster Of finance. according to the re-
port received by Secretary Gresham,
estimates that the people OF
Prussia have at the present time
$7,O75, 740. 900 in stocks. bonds and
loans. It is calculated that 25 per
cent of the wealth of Germany IS in
vested in stocks and bonds and that
this will probably rise to 40 or 50
per cent in the next generation.
Professor Schneider, leading
authority on economies in the en-
pire, estimates that of the 49, 5OO.-
600 people who make up the German
empire 1900. 900 to 1000. 900 are in
receipt of incomes from invested
capital, says of those about one half
hold public securities. In Prussia.
in the last ten years. the deposits in
the savings banks are claimed to
have augmented about $44 030. 600
per annum, and throughout Ger
many probably $71, 400, 900 to $780,,
200, 900, from which it is inferred
that the German nation is laying up
from $476. OOO, 900 to $685., OO0, 600
annually, one-half Of which goes into
securities In the last ten years
there have been, in the aggregate,
about 1852, 900. 900 to 81, 1870, 600, 600
worth of foreign and 81, 9O4, 600. 600
worth of domestic securities put
upon the German market
With reference to the question
whether Germany is wise in taking
so much foreign paper. Professor
Schneider remarks that it is
healthy symptom, and indicates q
thriving state of the people. and that,
although much money has been lost
thereby, it has been, on the whole,
valuable experience and the means
of placing the German stock ex-
changes on equal footing with those
Of London, Paris and New York,
position which they did not occupy
twenty-five years ago. The losses
of the country from investments in
foreign securities have been great but
they are argued to have been amply
Offset by the profits realized. From
1860 to 1892 the Germans are reck-
oned to have made $238, 900, 0)O in
American and Russian securities
alone. independent of all indirect
benefits which may have accrued to
the general business of the country
through the connections made in the
handling of such stocks and bonds
Germany now holds probably -. 300.
600, 900 worth of foreign securities,
which is presumably double what it
possessed ten years ago. The inter-
est and dividends on these add about
$119, OO0, 900 of wealth annually TO
the country This has a marked
effect on the we'll being of the cOun-
try and its trade balance. What the
country has lost in recent years
through unfortunate investments in
foreign securities has probably been
about 5000, 900. 900. which. as re-
marked above, has been fully COM
pensated for by gains made