The times. [volume] (Richmond, Va.) 1890-1903, 1896-03-31

price Of other high-cinss securities. me
,hreo and n half per cent. Metropolitan
district debcnturcs. which In 1890 couln DC
bought at i13. now bring III, ana 'he W.
and a halls have risen from WI " -.
Liverpool three and halls nave f'sen
during the same period from llS 10 iof'
Nottingham threes from W 10
Us l-2 EailUhy Shares, s"s
shares, Suez Canal shares, ne"
River Water stock. and the pe,'er
class Of Industrial stocks are also selling
at prices at which the income they yieid
ia between three per cent. and four per
cent. while a number OF perpetual four
per cent. first-class railway debentures
are quoted at $50 and upward, and some
three per cents az il5 and upward. The
ordinary shares Of Guinness brewery.
which I'm 1890 sold al 35i. sell now at il5.
and Allsop & Co.'S. in the same business.
are quoted at lf2. after having been for
n long while below par. Tho upshot OF
the matter is that m Great Britain eau
tious investors, and trustees, eXecu-
tors. and other people whose
choice OF investments Is limited
by law. can barely obtain
return Of and a-half per cent. on money
invested. while for three per cent. more
or less risk must he taken.
We have seen how British money has
been poured into Argentina and South
Africa. and Il is no more than reasonapie
to suppose that eventually II peace con-
tinues to prevail in Europe, IL VIII pe sel'
into this country, as il has been hereto
- Al, ,ra. is necessary 20 secure It ~
20 GUARANTEES first. the safety OF the prlh-
s,,oI and secondly, n moderate but sure
income from II. - t.s,~,, do,e
Ia ,,ie,v 81 these facts tho INJURY oo"e
80 ,his country by tho silverite folly ue-
comes conspicuously great. Our slI'' -,
Mostly Western and southwest"
-, and next 10 the low prices Oh a,
n1o,,i,rral nroducts. their cher SiieNs'.-'
a. H. lack Of capital for the oeNe.op-
v,a,t of their section or the co".t,.,
n,,,to,,sl., true wisdom dictates ina =
! -. ..o,,~o mis- capital they shouih "n''
everv nossible inducement 10 JUS ."
10 invest Il among them. ana shoui' ~
| move from their minds every IN, -
| dtscoura cement. Instead OF "'.,9 -
| -, orc endoavoring 10 procure the anop'
~ ." . measure which would virtually
/ consscate one-half tho money lent th,n
Which was not specifically made payap''
a. oold and in Mississippi the Governor
( - ~, state would render even TINS iai'ei
safsorara impossible. Hs has propose.
~ Enactment Of a law fci bidding th'
,ool,inp ~ contracts for the payment o.
deb.s I'm gold. and withdrawing from tneir
tho nrotection of the courts. Inc coh'''
zion Of debts of any kino from dishones'
or BANKRUPT debtors is extremely dinlcui'
already I'm many parts OF the West an'
the Southwest. and II gold contracts are
"a he nut under the ban there altogether
so that no money can be lent except
the risk Of being returned some day II
new money Of half its value. 81 Is no
likely 70 De lent az all.
As things as are. with the silverite spec
tire stilI threatening money lenders. VIII
! n Congress unable or unwilling 10 restore
our national finances TO an orderly con
| dition. and with catastrophes like that o
: the Baltimore and ohio Railroad Com
panv and its numerous predecessors i'm
/ pending upon nobody knows how many
I other corporations. We shall l-sve "a
| wait some time yet before the flood o
capital now damned up in Great Britain
Will overflow upon this country. Fortu
nately for this section. We have enough
/ means Of our own 10 get on very com
fortably without assistance from abroad
but there are other places whore sucl
assistance would be welcome. and the res
I idents in them ought 10 bestir themselve
TO secure it.-Matthew Marshall. In tn
! New York Sun.