Durango semi-weekly herald., 1903-04-06
AMERICAS CREDIT
STANDS THE HIGHEST

IL IL hHUlHfaHi id'i lnht Ah'
credit Of the worlds two great ropilb
lies stands higher than does that OF
any other countries British consols
are lowering around tho 90 mark.
while the leading French eccuriiy of
about the snmc class is close to the
ie1 line. and United States bonds are
far above that level CoDsols are low
or than they have been at any pre-
yious time in about third Of cen
tury They arc about to change from
2A per cent security to one of 2iA
per cent. Az this drop has been la
mind for considerable more than
dozen years, the approaching change
In the lntcrest rate cannot account for
the whole pf the recent decline which
liz now lower Than II waa during the
I,ocr war. That war nccesslinied The
narrowing OF considerable money by
the British government. and this nj,
ways has a tendency To doprcss con
soils for he time. Moreover, there IN
a strong demand Tor money In the reg
uinr business enterprises In England,
AZ A.ill as In the United States. and
This has tendency Ia fOwcr the price
of securities having fyed interest
raiu.
AT the same time thai British con.
soils, now bearing az per cent rate,
and soon to drop To 2iI are quoted -
little above 90. ihc French per cents
are only shade below 100 German
Imperial . per cents of 1901 also n
good security. are quoted at a ahnde
above 81. which mnkos pretty Wide
gap between them aud the French 81
Spsln's per crnis ARE quoted NJ a
fraction above VI, ltnly'a & per cent
rcntes at little above i1i. Hungary's
I per cent gold rentcs al lO2 aud Rus
sin's I per cents ni u little above ln2.
Turning Ia the United States sccurl-
lies. big contrast from these figures
Is shown. Our per cent bonds of
1890 range between 100 and los. while
our per cents Of 1925 are quoted at
about l3s. This makes a marked diff
ference In the showing of this country
as compared with the rest OF tho na
lions While our securities range far
above those OF the rest of The world
IN The prices which they command In
the worlds financial markets. those
of Americas sister republic on the
other side of the Atlantic rank second
la value
There are good reasons why the
credit OF the United States should be
far higher than that OF any other ma
lion In the world, In natural rosonr-
ccs. In amount of lioating capital, IN
a Ia.
tent ot it's wealth |, is grcntly superior
10 any other country. Not only Is It's
population growing faster than that of
any other nation, hut It's husincs ac.
,i,itics are increasing at n far higher
ratio than It's population. and It's
wealth Is expanding faster stlll. In
all the elements which cunduco to n
nations greatness this country is i'm,
measnrably ahead of all the worlds
great peoples. Its activities are con.
slanlly broadening at a rate which is
a surprise to The rest of the countries.
and which was scarcely dreamed OF
here dozen years age. II Is now q
littlc over twenty years since the
United States, In the aggregate of It's
manufactures. passed the United
Kingdom. which had iod the world
until that time. and the gap has been
steadily and rapidly broadening ever
since, Investors all over the world
sec that the future is brighter for this
country than 1t is for any other part
OF the globe. 1t can borrow more
money than can any other country,
and can borrow IL on better terms
The prices of the bonds of the leading
countries in the worlds markets make
an eloquent presentation OF the mani.
fold attractions OF the United States
as a field for the investment Of money
and as the radiating center OF the
earth's financial activities.