Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-02-09

In the immediate future is shown by
the fact that they are viking to pay
full rates and a premium for money in
order to be in readiness for any tax which
new enterprises may put upon their
financial resources. There is little chance
Of any relaxation in the price Of money
IN the near future, as it is now loaning
at full rates and a premiunrof@f rorne4oR
to one and a half, per cent for thirty
days., three or six months. This is the
strongest kind of an indication Of the
way in which business men regard money
prospects. y
THE offer of the government to an
ticlpate interest on ponds will help to ease
the money situation temporarily, but high
prices of money are l~egitimately due in
consequence of vastly increased demands
for Industrial purposes. Our cotton and
wheat have "a great market, and at high
prices will bring vast sums of money
from abroad. For we are spreading out
and developing markets all over the
world, many of which are greater than
we can supply at present. Of course,
all Of this is a great stimulus to money.
On the other hand, the very high price
Of iron has retarded the entering into
contracts for the building of steam roads.
trolly lines, bridges and the great build
ings which are to-day constructed SO
largely of iron and steel. This has had
the effect of restricting to a limited ex-
tent the employment of labor.
apart from this question of wal aud
its many complications n uncertain
ties, the business prospects of the United
States are infinitely brighter than ever
before in the history of the country, as
any one with a keen eye and good d:ges-
| ton can see.
'Industrials have got to take a back
seat, that is most of them. There have
been forced upon an ill-advised public
great amounts of stock of .over-capltal-
lied concerns of this character. OF
course, I have no reference to first-class
properties. There was a time during the
recent advance in prices all along the
line when many industrials Of question
Ole value We're advanced in price arti-
fcially in sympathy with the general
market. The banks were prevailed upon
to loan money on some Of these securities,
and I was afraid that this indiscretion
might lead to a panic. But that dan
ger is happily passed. A high rate is
now demanded for money advanced on
the majority of industrials and even the
it is insisted that they be put in at low
prices. The rejection of these stocks by
the banks of late has tended to increase
public confidence in the integrity of our
financial institutions.
Naturally, high rates for money will
cause the holders Of gilt-edged securi-
! ties that pay small dividends to sell out
and loan their money at higher rates.
The rates on, mortgages will no doubt be
advanced, but this will not hurt real
estate. as the higher salaries paid to
working people enable them in turn to
pay higher rent. The people in this coun-
try should remember one thing; that is,
they are not living upon themselves. but
upo the world at large. which they have
made their market, through industry and
moral integrity.
I'm this val between England and the
Beers we should, as I say unQuestionably
support England. not only because she
stood beside us during our recent war,
but England and America COM
bined would be more powerful, morally,
intellectually and financially, than an the
rest Of the world. Without lifting a
finger we an, by our attitude, compel
all other nations to keep their hands off.
This will have the effect of not only
shortening the war with the Beers, but
preventing the disorganization of bust
ness n finance throughout the whole
| civilized world"
Approved, RUSSELL SAGE.