| Show 0 PLENTY OF MONEY MA MANY masy people are well satisfied that there is not enough money in the country hence the urged action of congress to extend the issue of greenbacks green backs to other people on the contrary think there is too much money in the country or at least that there is an abundance but that the great difficulty dl is that it is so unequally unequal lv distributed that while one part of the community is i afflicted with financial atrophy another part is afflicted with financial plethora ph ethora in a late issue the denver journal of commerce talks of the pien plen of money in places in this wise titio the general statement of the banks all over the country is that there is a glut of money more than can be advantageously used not N tot rot that there are no persons who need it for there are thousands in every section of the land but that there is a surplus for all legitimate business purposes by referring to the financial reports in the newspapers we find ample proof of this the report from new york of a week since ewas eoas was money easy y at three and four percent per pen cent from philadelphia we get this report the demand nor for money is so limited for business purposes that lenders hardly know what to do with their balances call loans were offered freely at five per cent time loans on collateral at the same figure and mercantile paper at six percent per cent as a rule the chicago papers leport report 1 the supply of funds continues abundant at the banks the rate is nominally maintained at 10 per cent although some of them are offering money at 8 per cent in the op open e n in market arket the supply ly is even greater than at the banks banks and 8 per cent is all that is asked A good many of the country banks are offering large sums gums through brokers here at 9 per cent for three and even four menth months loans on prime collaterals collate rals though the brokers say they cannot find employment for it at over 8 per cent the cincinnati papers of the same time report the the demand for money has been light all through li the week and the banks have discounted freely at 8 and 9 per cent without being able to keep their discount lines as nus full as they desire the st SL louis report says tiN money loney continues to be held in great reat abundance by the banks ang and under the light demand fordis nor for discounts la is steadily increasing this abundance of money is not limited to the large cities it extends to the country banks which also have more money than they can find use for as is proved by their sending it to brokers in the cities to be loaned at 8 per yer cent the journal is 0 opposed s ed to inflation and says tappo the only n proper way for the impecunious to obtain money if they tiley really want it is to work for it borrow it or buy it with merchandise or other property money aloney can be obtained by a salary grab a I 1 back pay steal asteal or other methods of leiai leial omm off manipulation or other kinds of stealing but thee ways are not considered commendable the journal further says caa A person can get money get all he wants by rO returning an equivalent but money as well as other valuables can only be obtained b by such a process the country as is suffering from a lack of business rather than a lack of money the supply 1 is 19 9 abundant but there is a lack of trade to call it irto into use um the suspense in which the people of the country are now held is doing more injury to our commerce and industries than anything else it dont bo be so long and so frequently pottering lottering pott ering at financial legislation disturbing the business relations of the tilo country and holding the people in suspense but rather do all that can be done to give steadiness and stability to commerce and manufactures so that confidence may abound labor be employed wealth distributed and conveniences brought more uniformly within reach of the people at large |
