The comet. (Johnson City, Tenn.) 1884-1916, 1890-12-18
THE LATE SQUEEZE,
AN AMERICAN FANANClER re
TURNS HOME.
London Had All She Gould Do TO
Pull Through,


Pull Through
NEv YORK, Drc 10 @ OF the
mass. ngers in the reutun'c, when
arrived here Wednesday, was NaIh'n
iel Page, of Washington, who has
made twtnty-two transa lantic tnps
in hall that number Of years, aud has
become as well known among the
fin nciprs uf the Il 81 h metropolis
ns he is here. Tonight he was talk
ing about the fnarc,al crisis IN Tor
eivn countries ut wns about rs ught
squeeze rs L'ndoo could stand
without going under" sad MIR. P"g,
"Iur had the sssistarce iront the bank
of EY.uce been withheld another
1%4n,y four hours the Bank at Eug'
land could uot have taken up The
Bariugs' obligations, and score OF
smaller houses would inevitably have
followed Barring Bros, Barings' guar
a,tep il backed up by more names
than have b, en- made public, Ior 1t re-
ouirpd tren. endous line OF credit
am informed tina the E"gl'-h capl
talists have lost over $1,000 OOoOOo
in South An,ericnn speculauons III
the last five years, 20 you can appre'
ciate what a drain there has been on
the Golfers Of the London banking
houses. This money was about eqIal
Is divided between governments ana
industries. The instability OF the
south American Government and the
unscrnnulous schemes Of some 0' their
poGticians are responsible ior TINS
wreckagp Of English capital when
1t will end, aud how, no one can ar
curstely foresee There must W.
liquidation and footing ny "i the
balance ,efore confidence can b. FULLY
restored That will require macy
months of inquiry and scrutiny E."
"Theu you don't took for a rapid
building mp Of cred,ts?' the reporter
a,ked Mr. Page. 81 do not, me replied,
"thongh, despite this great sque' ze
England is commer rcially sound at
the core. This has bpel II sloughing
off. though it h gone deeper than
we expected. 1t will result there
and anticipate in this "ou Try, 81"
well. in the wi hdrawal OF c7pital II m
purely speculative or highly w"t"rrd
en- erp,iss-, but ! bell We the valid
ones will Fl I'D no great difficulties IN
securing capital. The crisis has help
ed IL. IN this r,sp' ct, that it has dr
mous,ratcd To The world, AID to n'
country nlnrr than Eugliud, that W.
ran take care ui our :, yes over hrre
The WAY New York withstood th'
crash was surprise to thr LnhdonefS
and an agreeable o"e to Ameriean'
staviugin LonlDn ut that t,m3. IT
OPENED the eye. oi 70 elgnrrs, huo
raised this country considerably u
the highest estimation as a money
centre This bilcr impression re-
gafding American atltirs c"ntinnsC
Mr. Page, comes 1T n time when EnE
land spes that We scored a pom
ahead of her IN g,thrling the Soutl
American r,puhhrs under one wins
aud insuling the sta ility Of The gov
ornmcnts on the plan outlined b!
Secretary Blaine His policy is rc
gardpd abroad as a notice ~ Enrop"
a.. countries that America has th'
mower aud strength tn donate III
Western Hemisphere, and that we arr
q ing to do it England was prepar
llg 20 d. ]ust what cecreIaly Dl"Ih
ha dooe IN the Sou b America affair
and hls reciprocity policy has hxe'
forever his status abroad as The fore
most American in public life"
"What did you hear in Enelan'
about the Mckinley blIl?" the report
er asked.
"Consul General New told me, jns
be orc | sailed, that there had bee
M d-creasc either in number OF II
voices Or value Of g"nds exported t
this country since the measure ha
brcame y hw," Mr., Page 'eplie'
"That is a surprising iacthut it show
that England regards Amtrlra as he
best customer, ard if she can t sell I
one thing she viii try annlher."