The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1900-10-26
LoAN1Ne MONEY.
savings OF the People Are Placed In
ehe Hands of Money
Lenders.


When there are millions OF dollars
piled up in New York and other finan-
cizefenters waiting for investment, ii
" tws that money is cheap. in the
a that II does not cost much to bor-
iow II. The capitalists with capital
for Investment makes the rate OF in
terest low, and consequently invest
.ors. capitalists, large banking and
other financial institutions have great
difficulty in lending their money out
safely at a percentage lager than
three or four per cent. The credit OF
the United States government is now
so good that government bonds can
easily be sold which yield an income
of only two per cent; but the credit
of foreign governments. or Ut least sew
eral of them. is not 30 good as that. and
not having money OF their own in their
financial centers which can be bor-
Srowed at low rate OF interest. or Dor
rowed Mt all. they naturally come to
the country, or the financial centers
of the country. where there is plenty
OF money. Such a thing as sentiment
never actuates q person or a country
borrowing. or q person or financial
institution lending. 1t is a matter of
business. Money lenders get as much
as they can, and money borrowers pay
as little as they must. New York is
to-day the financial center OF the world.
because it is better able to lend money
10 all comers than any other city of the
world.
This condition of affairs proves that
our own country was never so prosper
Gus as now. II could not be true with
out these millions of hundreds of mil
lions of dollars piled up in New York.
seeking investment al these low rates
OF interest. II also illustrates that the
big financial institutions, wherever To-
Gated. cannot prosper unless the coun-
try as whole has made the money and
has put It in their hands for saving or
Investment. The savings banks seat
tered throughout the country. the life
Insurance companies. the financial in
stitutions or large private banking
concerns OF whatever kind. depend for
their very existence in the last an
alysis of things. first. upon the fact
that people have money saved up.
which they can place with these per-
sons or Institutions for investment,
and. second. thar they have such con-
fidence in the general business outlook,
and also such confidence in the integ-
rity of the persons and Institutions in
question. that they place their money
ON deposit with them. Its this money,
the money of all the people. that is
loaned out to such would-be borrowers
as can put up sufficient collateral.
The presence of this great mass of
money in the financial centers seek
ling investment nj rates no ma tier how
low. so far from being bad sign. as
Afr. Bryan and his organs claim Ctbough
I'VE have never been able TO see why).
; the best possible evidence, is. indeed.
perfect index. of the prosperity of
he country. 1t is positive proof that
he present prosperity of the country
unprecedented. When We say that
man is a creditor. when We know that
has money to lend. we mean to say
hat there IL no better way Of saying
hat he is prosperous. When nation
called a creditor nation. it is only
eriectiy fair TO assume that the same
pnditions exist with regard to the
hole country; in fact. 1t is mere clap
zap to assume anything else.