Abstract

The Public Credit
January 27, 1870 issue

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This article presents information regarding the unimpressive value of the U.S. securities in the international money market. The reason why U.S. securities stand lower in the money markets of the world than those of any other power, is a very interesting topic of discussion, particularly just now, when U.S. wants to convert her debt, at a reduced rate of interest. U.S. issuing a bond and agreeing to pay four percent interest on it will not make it a four percent bond. No matter what figures it may bear on its face, buyers will estimate its value in their own way, and will only take it at a price which will make the interest sufficiently high to cover what they consider the risk of holding it.

See Also:

SECURITIES; FINANCE -- United States; DEBT; INTEREST rates; MONEY market; UNITED States
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