Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-30

WASHINGTON, July 29.-For some days
past an Englishman, a member Of one of
the largest firms of solicitors in the city of
London, has been the guest of a prominent
Washington business man, who has made
fortune by dealing in real estate in this city
during the last few years. The fact of the
Englishman's arrival here was not chron-
icled in the society papers, as is the general
custom, and although he has explored the
city pretty thoroughly in carriage, on
horseback and on foot, he has made few ac-
quantances. The object of the English
man IS visit has, however, leaked out in
roundabout way. and with it some iniorma-
ton which may be of importance to fnan-
cial and commercial communities.
The Englishman is a real estate lawyer,
and we'll up in matters relating to transfer
of property. He came here as the repre-
sentative of an English syndicate which is
prepared to invest
SEVERAL MILLIONS
in Washington real estate. His investiga-
tions convinced him that there is money to
be made out of real estate in this city, and
he was preparing to make definite offers
when he discovered to his amazement and
horror that no alien could obtain title to
real estate in the District of Columbia and
the Territories except a foreign government
purchasing property to be used as legation
or other governmental purposes. This, OF
course, knocked the scheme in the head for
the time being.
The Englishman's host had pardoaable
curiosity to know why the English were
buying up everything in this country on
which they can lay their hands, and he
asked him how it was there was so much
capital lying idle in Great Britain. His
visitor frankly said all these investments
were not being made with British capital
alone, but
THE ENTIRE CONTINENT
of Europe was sending money to London to
be invested in the United States. The
money goes to London because that city is
naturally the great financial center of the
world. But France, Germany, Italy, and,
in fact, the entire continent is interested in
the negotiations nov pending in various
parts of the country for the purchase of in
dustrial concerns.
In the course of conversation the Wash
ingtonian said he was surprised that Europe
had so much surplus capital seeking invest
ment, as according to the impression he had
derived from reading reports of trade in Eu-
rope during the last two years, no great in
stitutions had been making a very great
amount of money, and great many of
them, he believed, had been compelled to
run on short time at q narrow margin of
profit.
A GREAT WAR FEARED.
The Englishman admitted the truth of
the remark, and went on to explain that
Great Britain and the rest of continental
Europe believed that it was only q question
of time before all Europe would be involved
in the greatest war the world has ever seen,
and to provide for the proverbial rainy day
money had been withdrawn from home in
yestments so that it could be invested in
this country. The marvellous recuperation
shown by this country since the Civil War,
and the way it had weathered domestic
troubles, had convinced leading fnanciers
Of the stability OF the American form of
government and institutions, and they felt
convinced that money invested here would
yield handsome return and the cal itai be
perfectly safe.
AMERICA THE GAMER.
Another reason for seeking investment
here is that in case of war the United States
will alone profit by it, and in proportion
as the trade of the rest of the world
suffered, America would be the gamer.
Consequently European investors in Ameri-
can enterprises will be gamers, and part
of the enhanced prices which they would
have to pay for the necessaries of lie which
would follow on the declaration OF war
would come back to them in the shape of
profits from their American enterprises.