OCR Text |
Show ITALY SECURES LOAN. The Italian residents of New York City have raised a loan of $25,000,000 for the land of their birth. This loan may be taken as evidence of the fact that tho Italians in the United States are in a highly prosperous condition, as much so as any other class of Europeans who have sought their fortunes on this side of the Atlantic. It also goes to show that this is the land of opportunity for frugal and saving emigrants. The Italian government secured the loan of $25,000,000 by sending over Italian banknotes and securities to the full amonut named. Almost all the countries of the world have been and are seeking money in the United States and the total loans run up well over a billion dollars. Before the war closes the .total may be over two billions. After Af-ter the war there will be another demand and it is fair to presume many millions will be sent to Germany Ger-many as soon as the coast is clear. One redeeming feature about these loans ii the fact that our market is kept from being glutted with gold, which woubi have the effect of lowering the interesi rate below the dancer point. |