Richmond daily palladium. [volume] (Richmond, Ind.) 1876-1904, 1900-10-06
LoANING MONEY.
Songs of the People Are Placed In
the Hands of Money
Lenders.

| hen there are millions of dollars
| pill up in New York and other finan-
| ciscenters waiting for Investment, 1t
| fonws that money is cheap. in the
sem that il does not cost much to bor-
ros it. The capitalists with capital
| for.nvestment makes the rate of in
terst low, and consequently invest
| ors capitalists. large banking and
| othr financial institutions have great
| dihculty in lending their money out
sally at a percentage larger than
thre or four per cent. The credit of
the United States government Is now
so god that government bonds can
cash be sold which yield an income
of oaly two per cent; but the credit
of fGeign governments. or at least sew
eralof them. is not SO good as that, and
not having money of their own in their
financial centers which can be Dor
rowed at low rate of interest. or bor-
rowed at all. they naturally come 70
the country. or the financial centers
of the country. where there is plenty
of money. Such thing sentiment
never actuates person or a country
borrowing, or person or a financial
institution lending. 1t is a matter of
business Money lenders get e- much
they can. and money borrowers pay
as little as they must. New York Is
to-day the financial center of the world,
because il is better a BILE to lend money
TO all corners than any other city of the
world.
This condition of affairs proves that
our own country was never SO prosper
Gus as now. 1t could not be true with
out these millions of hundreds of mil
lions of dollars piled up in New York,
seeking investment at 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 II in their hands for saving or
investment. The savings banks seat
tered throughout the country. the life
insurance companies, the financial in
situations 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, that they have such con-
1i0SAtc III lHc EGiieI ouAAooh,
and also such confidence In the integ-
rity of the persons and institutions in
question. that they place their money
on deposit with them. 1t is 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
Ing investment at rates no ma tier how
low, so far from being a bad sign as
Mr.. Bryan and his organs claim Though
we have never been able TO see why),
Is the best possible evidence. is. indeed.
a perfect index, of the prosperity of
the country II is positive proof that
the present prosperity of the country
IS unprecedented. When we say that
a man Is creditor, when we know that
he has money to lend, we mean to say
that there is no better way of saying
that he Is Prosperous When a nation
is called creditor nation. it Is only
perfectly fair to assume that the same
conditions exist with regard to the
whole country; in fact, 1t is mere clap
trap TO assume anything else.