The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-05-01
NATIONAL CREDIT.
r.,,mate In which the Securities Oh
various Nations Are Held.

various Nations are heo
Auonp the nations of the worid
,-hich are in the market as borrowers
~ money upon bonds, England STANDS
first, paying an average OF aoou' "a
~ cent on its funded securities. Inc
nason for this high credit Is Two
Add. There is larger amount OF ldie
81 uninvested money in England than
in any other country in the world anu
additional security for the ceot Oh
Cr,at Britain is furnished in the enor-
mons colonial possessions ana COM
mercial rights acquired by the BTU
isb crown. The prevailing rate OF IN
terest on all loans is less in England
than elsewhere, and the effects OF TINS
nlethora of money are shown In ue
low rate of interest at which the Eng
lish government is able TO borrow
money. The total debt OF Great BTU
ain is about So 300, 100000. or at the rate
of about sss per capita in the three KING
doms of England, Ireland and SCOT
land.
Second on the list of countries IN re-
spect to the low rate of interest," at
! which government loans are MADE Is
the United States, which, with an out
standing interest bearing debt OF about
5000, OOo,O 600. pays the equivalent OF
about 2% per cent. The dept per cap
ita of the United States is about 49,
an amount materially smaller than the
averare of the debt of Great Britain,
but representing only the federal OBJ
locations. the several states. counties
and municipalities having debts OF
their own to much larger amount col
| lectiyely than the federal debt.
The financial credit of the Kingdom
of Holland is very nearly as good as
that of the United States, though the
debt per capita of the Dutch kingdom Is
nearly 500. France follows fourth
on the list, a position due TO the enor-
nous amount of national debt, which
is nearly $4,000, 900, 900, at the rate OF
about Sl2O per capita. Money brings In
commercial investments a higher rate
of interest in France than in England,
and the French loans arc made subject
10 this condition. The three per cent.
French government bonds sell at about
1o1. which is equivalent TO nearly three
Ter cent. on an investment. Those oil
the kingdom of Sweden and of the king
dom OF Belgium are quoted nearly as
high, though the governmental debt
of Sweden is Sl3 per capita, and tha'
of Belgium is S63. The government
obligations of the kingdom of Norway
a country which has but seven dollars
per capita, pay somewhat more than
foil r
the estimation of investors. the govern
ment loan of Germany-imperiall loan
which pays about 81. per cent. Each o.
the German states has its own bonds
and there are German government
bonds in addition. The Prussian bonds
paw a fraction more than those lssuet
by the German government, and thel
follow in order those of Austria, Russi'
and Hungary.
} This may be said to exhaust the lis
OF nations which are regarded as thor
J oughly solvent by disinterested invest
. ors. The five per cent. bonds OF ltal.
sell at SIS cents on the dollar. The IL
per cent. bonds of Chill sell at SIS. tn
, Turkish FIVE per cent bonds, protecte
by the lien OF customs receipts. sell
, SIS. Mexican six per cent. bonds Sc
at o6, and Spanish four per cent. bond
, at 80. The bonded debt of Portugal
not held in high estimation, its thre
per cent. bonds being sold for abou
J, 20 cents on the dollar, while the fou
per cent. bonds OF Greece sell no highe
a China's five per cent bonds bring pa
: and the Bulgarian six per cents. sell
e0.-N. Y. Sun