Page:Indian Journal of Economics Volume 2.djvu/610

 592  H. $TNLEF JEVON$ with the five classes of lenders as follow:-- (1) (s) Public Debts of national and ments; (b; loans ties, port trusts, state Govern- of big local authorities, etc., which have staple munieipali- powers of and great landed pre-wsr years)' 4 to 5 per cent. (2) Public debts of estates.' England P, ate of $ to 4} per small foreign states; interest cent, (recent India loans of municipalities, port trusts, etc.; shares of large railway companies, large banks and insurance compaines, pre- ference shares of big steamship lines, telegraph cable companies, investment trust companies, etc.; shares of companies with state guarantee of interest for term of years; mortgage debentures of colliery compaines, land and plantation companies, concerns in staple city properties and 8eelire estate interest 4 to 5 cent in India. ($) Loans of industries. of landed tracts; first mortgages on up to two-thirds of market per cent in England; public bodies having small or un- and of large industrial Ownership of large estates in fertile and any saleable real value.. Rate of 5 to 6i per certain revenue raising powers; shares of new'and branch line railways; shares of old and shares companies in all established industries; panics with municipal of land and shipping guarantee compames, proved mining companies, plantations, etc. o! large house-property and of secure tracts. Rate of interest England; 6t to 8 per cent 5ire? in. India. Ownership landed estates in less per cent in of successful shares of corn- of. interest; shares etc., debentures of taxation or control of revenue; debenture and pre- ference shares of great railway companies; preference shares of great banks and insurance companies; mort- gage debentures of city property companies; and first mortgages to half market value on large city properties