Show T f MONEY MONEY HONEY AND RAILROADS The Thie home of J. J S. S and W V. S. S Kuhn of New York e f Philadelphia a and Chicago advertises cx- cx ly iii ll the ca cast t inviting g people of small means t invest in bonds j says SUS the Ue house owns ever every bond bondI 4 1 I I that it bell eIk i that it is the tho best hest investment for peo- peo with a little spare means and nd that some bonds hond p pay as much r rs fH u G 6 j Ic per cent It is d one of the most 1 4 1 famous and reliable abl financial hous houses house's in the thc country and n people that deal with it whether to buy a u h bond n or to t sell bell Jho tho bon bonds s of a railroad will be cu cd with perfect integrity V Iut a u thou thoughtful reading rending of their advertisement f t mak H clear tho the position of perhaps two thirds 1 ol f the Iho railroads of or the United States They are pay pay- 5 the interest st on oil bonds that call for more moue money 1 I M than Hum most railroads would soil for Kuhn Kulm O. O GJ T t Like ke out their theil profits wh when n thc they take the bou bonds s to float them so ho when the outside public subscribes foi for the bonds bomis the receives s from DO 90 per percent cent nt to 05 95 per pel cent of of the tho face value o the bowls bOIl Thou Then the road has to meet meat operating n e acci accidents repairs tu ta taxes cs suits stilts f and e every r twenty years vear has to pay ba back k in ill interest st sta a little n more ore than the tue he original cost ot of the road Is Isit Isit it any wonder wonder that most most roads roach are arc in perpetual trouble that as often as they thoy c can n they increase the capital stock that they may mn float more bonds and pay more interest 7 What will the time finish be 7 Will all nil the lesser roads be absorbed by three or four great systems and amI these in turn break through their own weight and have to be bo readjusted 7 Mr Ir Aldrich in his recent letter wants a greater banking system He wants th the present national and state banks protected but admits that they arc are not as at tt present established sufficient to meet the country's needs lie He evidently sees that there is not at present money enough to grapple with time the enterprises es that lag for need of it It looks to us ns as though he sees ees no way to begin save through a I great central national hank bank With Vilh that established an and interest reduced one half with this bank to supply the national and state stale banks hanks on such security se se- sc-I sc as congress might decide to be lie safe sale and andin andin in such volume as ns w would uhl meet the tho country countr country's s 's requirements re rc- there would woud be something doing right awa away The The- IH lesser interest would be bc accepted by the thc banks for their business w he be more than doubled The Thc system should include an offer to purchase 20 a per pel cent of the time stocks ant bonds in all the railroads and insist that the government should own 20 29 per cent of or all new and have government gov gov- directors in their comp companies nies and that n no nomore more roads should be projected unless behind them 1 was half their cost in money for the mighty interest interest inter inter- est cst drain annually now being sent out of the country country coun coun- try must be stopped or ruin will conio i with the first crop failure Three things must come soon First such an addition to the currency as will willbe willbe willbe be for the thc country's country business needs Second a n mighty reduction in interest rates Third so much currency that the gold combines cannot at will paral paralyze ze business in r. r day all the I way war the seas |