Evening journal., 1897-05-08
NEWS OF NEW CASTLE
NATIONAL CREDIT.
Estimate In Which the Securities of
Various Nations Are Held.

various Nations Are Held.
Among the nations of the world
which are In the market as borrowers
,f money upon bonds, England stands
first, paying an average of about 2M
per cent. on its funded securities. The
'eason for this high credit is two
fold: There is a larger amount Of idle
rnd uninvested money in England than
in any other country in the world, and
additional security for the debt of
Great Britain is furnished in the enor-
nous colonial possessions and COM
mercial rights acquired by the Brit
ish crown. The prevailing rate Of in
terest 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 Eng
lish government is able TO borrow
money. The total debt of Great Brit
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
the United States, which, with an out
standing interest bearing debt Of about
s9oO,OOO,O 600. pays The equivalent Of
about "a per cent. The debt per cap
Ia of the United States is about SIS,
an amount materially smaller than the
average of the debt Of Great Britain,
but representing only the federal OBJ
legations, the several states, counties
and municipalities having debts of
their own TO much larger amount col
lectively 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 $780, France follows fourth
on the list, a position due to the enor-
nous amount of national debt, which
is nearly $4,000, 100000, at the rate of
about S120 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
| iO1, which is equivalent to nearly three
uer cent. on an investment. Those of
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 that
of Belgium is SC3. The government
obligations Of the kingdom of Norway
country which has but seven dollars
per capita, pay somewhat more than
three per cent, and next follows, in
the estimation of investors. the govern
ment loan of Germany-imperial loan
which pays about 3H per cent. Each OF
the German states has its own bonds
/, and there are German government
Z bonds in addition. The Prussian bond
. pay fraction more than those issue'
il by the German government, and thei
|. follow in order those of Austrin, RusSi
: and Hungary.
4 This may be said to exhaust the lis
Of nations which are regarded as thor
i oughly solvent by disinterested invest
ors. The five per cent. bonds of ltal.
sell at ss cents on the dollar. The ~
q per cent. bonds of Chilli sell Nt IS. Th
! Turkish five per cent. bonds, protecte
: by the lien of customs receipts, sell a
/ IS. Mexican six per cent. bonds SCI
e at o6, and Spanish four per cent. bond
l. at 49, The bonded debt of Portugal
D not held in high estimation, it's thre
e per cent. bonds being sold for abou
= 90 cents on the dollar, while the fou
per cent. bonds of Greece sell no highei
o China's five per cent. bonds bring pa
= and the Bulgarian six per cents. sell c
q 9O.-N. Y. Sun.