The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1897-07-17
CREDIT.
The Estimate In witch the Securities Of
Various Nations Are Held.

| Various Nations are Held.
Among the nations OF the world
which are in tho market as borrow
ers Of money uron bonds England
stands FIRST, paying an average OF
about 2 1-2 per cent on its Funded
securities. The reason for this high
credit is twofold: There is a Aarger
'alnount of idle Xxi ~,lni1ls<hsted mon
ley in England than in any other
country Of the world, and addition
fal security fer the debt OF Great
I.itain is furnished in the enormous
colonial possessions and commercial
rights acquired by the British
crown. The prevailing rate of inter
ct 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
tie English government is able to
borrow money. The total debt of
Great Britain is about S $500, 000,-
COO, ! at the rate of about $50 per
capita in the three kingdoms of
England, Ireland and Scotland.
Second on the list of countries in
respect to the low rate of interest at
which government loans are made
is the United States, which, with
an outstanding interest bearing debt
OF about 5000, COG, COO, pays the equiv
alent Of about 2 "a per cent. The
debt per capita Of the United States
is about SIS, an amount materially
smaller than the average of the
debt of Great Britain, butrepresent-
ing only the federal obligations,
the several states, counties and mu-
inequalities having debts of their
own to much larger amount collect
lively than the federal debt.
The financial credit of the king
dom CT Holland is very nearly as
good as that OF the United States,
though the debt Eer capita of the
Dutch kingdom is nearly 500.
France follows fourth on the list, a
position due to the enormous amount
of national debt, which is nearly
's4, 500, OOO, 0CG, at the rate of about
.Sl2O per capita. Money brings in
\ commercial investment a higher
: rate of interest in France than in
ENGLAND, and the French loans are
; made subject to this condition. The
\ g per cent French government bonds
: sell at about 101, which is equiva-
: lent to nearly 3 per cent on an in
{ vestment. Those of .the kingdom of
Sweden and of the kingdom of Bel
\ GUM are quoted nearly at high,
though the governmental debt of
Sweden is Sl3 per capita, and that
5 of BELGIUM is sea. The government
: obligations ct the kingdom of Nor
way, a country which has but 81
; debt per capita, pay somewhat more
than 8 per cent, and next follow, in
=" the estimation Of investors, thegov-
crnment loans of Germany-impe
sial loan-whichpay.a about IA pei
t cent. Each OF the German states has
e it's own bonds, and there are German
government bonds in addition. The
5 Prussian boeds pay a fraction more
e tan these issued by the German
n government, and then follow i'll or
e der those of Austria, Russia ant
IS Hungary.
I This may be said to exhaust thu
y list of nations which are regarded
!. as thoroughly solvent by disinter
y csted investors. The s per cen
j. bonds OF Italy sell ut SO cents on thu
Of dollar. The Turkish 5 per cen
II bonds, protected by tho lien Of Gus
is toms receipts, sell at SO. Mexican
:. Per cent bonds sell at 96 and Span
,f ish 4 Fer cent bonds at SO. The bond
i. cd debt of Portugal is not held il
c ]ligh estimation, it's 3 per cent bond
j. Icing sold for about 20 cents on tn
dollar, while the 4 per cent bono
le Of Greece sell NO higher. China:s
H. per cent bonds bring par, and TIL
D. Bulgarian 6 per cents sell at 90
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