Page 4 Advertisements Column 1

Waipawa Mail, Volume VIII, Issue 779, 21 May 1885, Page 4

Never before was there such a hopeless plethora of capital (writes the American correspondent of a contemporary) as we are now in these hard times groaning over. The Government holds nearly 400,000,000 dols. in its vaults ; the banks have more than the legal reserve and lend from day to day on call loans at 1 per cent, per annum, ami it becomes harder aud harder to find safe investment on bond and mortgage at i), per cent, even if one is willing to advance 7f> per cent, on the security, and to agree not to call in the loan for five or ten years. It is absolutely certain that Wall street will in a few years, deal in foreign securities, simply because we cannot find employment for our money at home.