The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1897-12-18
NATIONAL CREDIT.


NATIONAL CREDIT.
IAs eseimaes II Which The Securities Of
varaoss Nstloss Are Held.
Among the nations of the world
which are In the market as borrow
ers Of money UPON bonds England
stands first, paying an average Of
about 2 IL per cent on its funded
securities. The reason for this high
credit is twofo1d: There is a larger
amount of idle and uninvested mon
ey in England than in any other
country of the world, and addition
al security for the debt of Great
Britain is furnished in the enormous
colonial possessions and commercial
rights acquired by the British
crown. The prevailing rate of inter
est ON all loans is less in England
than elsewhere, and; the effects Of
this plethora Of money are shown
in the low rate of interest at which
the English government is able to
borrow money The total debt Of
Great Britain il about $4,000, 0O0.-4
600, or at the rate Of about sss ror
capita in the three kingdoms Of
England. ireland and Scotland.
Second on the list of countries il
respect to the low ratG..1a14hterest at
which government loans are made
is the United States, which, with
IN outstanding interest bearing debt
of about 5000, COG, COO, pays the equiv
alent of. about 2 3-4 Per; cent. The
debt per capita of.theT
is about SIS. an amount materially
smaller than the average Of the
debt of Great Britain, hut represent.
ing only the federal obligations,
the several states, counties end n1u-
inequalities having debts of their
own to much larger amount collect
lively than the federal debt:
The financial credit of the king
dom OF. Holland is very nearly as
good as that of the United States.
though the debt Per capitasof the
Dutch Kingdom is nearly e1C0..
France follows fourth on the list, a
position due to the enormous amount
of national. debt. which is nearly
$4,000, Oco. 600. at: the rate Of about
1920 per. capita, Money brings in
commercial inyestment.-a higher
rate of interest in France than in
England, and the French loans are
made subject 10 this condition.a-The
5 per cent French government bonds
sell at about lO1, which is ecuiva-
lent to nearly 3 Per cent on m in.
vestment. Those of the kingdom Ut
Sweden and of the Kingdom of Bel:
GUM r quoted nearly as high,
the governmental delft Of
Sweden in $13 per capita. and that
Of BELGIUM is sea. The government
obligations of the kingdom of Nor
way, a country which has. but s.
debt per capita. pay somewhat more
than 3 per cent, and next follow, in
the estimation. of investors, .thego1
loans of Germany-impe
rial loan-which pay. about 3 1444,er
rent. Each of the German states has
it's own bonds. and there are German
government bonds III addition. The
bonds pay. q. Traction nopt
than those ISSUED by the German
government, and then follow in or
der those Of Austria, Russia and
This may be ..said to exhaust: the
list of nations which are regarded
as thoroughly solvent. by disiater.
ested investors. The s. per cent
of Italy sell at SO cents On the
The Turkish. s Per. cent
protected by tho lien Of Gus
TOMS receipts, sell at So. Mexican .
per cent bonds sell at e6 and Span-
4 per cent bonds at So. The bond-
id debt Of Portugal is not held.in
high estimation. its s.per eent.honds
sold for about ~ cents on the.
while the 4 per cent bonds
Greece sell no higher. China's 8
per cent bonds bring par, and the
9 Per cents sell at sa-|:
York Sun. s...:y =. .e
~. ..;a=a: ..'%. ~