Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1901-01-10
A VIEW OF TIE
MONEY MARKET.
Approved by hnssell Sage.

me financial situation in America"
9@iu MT sag was never more legiti-
mate and sound than it is to-day. The
only cloud on the horizon is the pres
ent war between Great Britain. and
manship formations trouhle is avert-
co. there is no reason why good bust
ness should not nave plain sailing in
the united States for a long time. If
the war should be confined exclusively
TO themselves, the effect would not be
disastrous in any way to American fl
nances, for now, after the first shock.
our affairs here will run on smoothly
ana normally, and q considerable slim
ulatlon IN the prices of our products
VIII ensue. The great danger is that
as one spark may put a city in flames.
SO d war comparatively insignificant
IN 1tseIf may involve several of the
urst-class powers. The keenest states
men cannot foresee the results.
Inc money question here has dis
.oioeo publlc sentiment for thirty or
Aortv Gays. The great demand upon the
City pankS tor loans has come from all
parts OF the country, as well as from
large dealers who are making applica-
lions Tor great sums of money for bus
mess purposes. That the country at
large is in a very prosperous condition
L. I1OlCdISQ DY the de-.
1nand upon New York banks from Chi
cago, st. Louis, Minneapolis. ST. PAM
ana IN fact from almost all the big
cities OF the United States.
mat business men are preparing for
d greatly increased volume Of business
IN the immediate future is shown nv
the fact that they are willing to nav
Iull rates and a emit for money in
order to be in readiness for anv tax ,
Whlcn new enterprises may put uDon
tne1r financial resources. There is lit !
II chance OF any in the
price OF money in the near future, as it
IS now 1oaning at full rates and a nre-
plum OF from one to one and a half per
for thirty days, three or six
months. This is the strongest kline of
indication of the way in which bus
mess men regard money prospects.
Inc oIrer OF the Government to an
tlclpate interest on bonds will help to
ease the money situation temporarily.
out nigh prices of money are lesiti-
[nately due IN consequence of vastly in
creased demands for Industrial our
poses. Our cotton and wheat have a
great market, and at high prices will
vast sums of money from abroad.
for we are spreading out and deyeIon-
ng markets all owe the world. manv
u winch are greater than we can sup
oIy at present. OF course, all of this is
/ great stimulus to money. On the
'ther hand, the very high price of iron
las retarded the entering into contracts
or the building of steam roads, troll
ey lines, bridges, and the great build
ngs winch are to-day constructed so,
of iron and steel. This has had
ne erect OF restricting to a limited ex-
ent the employment of labor. !
Apart from this oneStion of war oo5
is many complications and uncertain-
business prospects of the
United States are infinitely brighter
nan ever before in the history of the :
ountry, as any one with a keen eve
good digestion can see. =
"1ndustrials nave got to lake a back
eat. that is. most of them. There have =
cen forced upon an ill-advised public =.
reat amounts of stock of over-capital- ,
concerns of this character. Of 9
purse, [ have no reference to frst-class .
roperties. There was a time during !
ne recent advance in prices all along
ne line When many industrials of ques- (
onable value were advanced in price, [
in sympathy with the gen /
raj market. The banks were prevailed Z
pom to loan money on some Of these q
and I was afraid tina this q
lat danger is happily passed. A high ;:
ate is now demanded for money ad- y
anced on the majority of industrials. s
no even then it is insisted that they /
E put in at low prices. The rejection n
these stocks by the banks of late has :.
.nded to increase public confidence in y
he integrity of our financial institu- y
onS. "
Naturally, high rates for money will =
the holders of gilt-edged securi- e
es that pay small dividends to sell +,
1t and loan their money at higher A.
p