Rensselaer Semi-Weekly Republican, Volume 20, Number 5, Rensselaer, Jasper County, 20 September 1898 — Comparative Credit. [ARTICLE]

Comparative Credit.

A few months ago the government of the United States of America, William McKinley president, wanted to borrow $200,000,000 to defray the expenses of a prospective war. Bonds of the government bearing three per cent, annual interest were prepared and offered for sale to the people at par. Within six weeks all of the bonds authorized were subscribed for and seven times as many. The total subscriptions aggregate sl,400,000,000. The smallest bond issued was for S2O and for these 320,000 individual subscriptions were received. The loan in its low rate of interest aud the eagerness with whioh the people snbscribed for it has no parallel in this country, or any other. In 1559 the government of the United States of America, James Buchanan president, wanted to borrow a smaller sum of money to defray the ordinary expenses. The president and his secretary of treasury, after much hard work, succeeded in discounting the government’s paper at a rate which made the discount and interest 12 per cent, per annum. This is history. Anyone who wants to be informed can by searching find out the cause. —Terre Haute Express.