Bridgeton pioneer. (Bridgeton, N.J.) 1884-1919, 1890-12-18
AMERICAN FINANCIERING.
More FayOrabiy Thought of In
England Now Than Ever,

one OF the passeBge on the Ten
tonic. which reached here Wednesday
afternoon, was Nathaniel Page, of
Washington, who has made twenty
two transatlantic trips in half that
number OF years, and has become as
we'll known among the fnanciers of
the English Metropolis as he is here.
a Irabteae reporter found him at the
Fifth Avenne Hotel yesterday, and
chatted with him about the financial
crisis III the foreign MONEY centres.
1T was just about as tight squeeze
as London could stand without going
under" said Mr.. Page, ''for had the
assistance from the Bank of France
been withheld another twenty-four
hours, the Bank of England could not
have taken up the Bariugs' obliga-
tions, and scores of smaller houses
would inevitably have followed the
collapse OF the Barings The Barring
guarantee is backed up by more names
than have been made public, for it re-
4 IL, L
am informed thai English capitalists
have lost over $3O0,OOO,e0O in South
American speculations in the last five
years, SO you can appreciate what
drain there has been on the Golfers of
London banking houses. This money
was about equally divided between the
Government and industrial invest
ments, and it looks as if the bulk of il
were total loss. The instability of
the South American Governments,
and unscrupulous schemes OF some Of
their politicians, sre responsible for
this wreckage of English capital
When it will end, and how, no one can
accurately forsee. There must be
liquidation and a footing up of
balances before confidence can be fully
restored. That will require many
months of inquiry and scrutiny"
Then you do nos look for rapid
building up of crsdits?" was asked.
Il do not" Mr.. Page replied,
Though, despite this great squeeze,
England is com mercially sound at the
core. This has been sloughing of.
though it has gone deeper than was
expected. 1t will result there, and I
anticipate in this country as well, in
the withdrawal of capital from purely
speculative or highly watered enter
prises, but believe the valid ones will
find no great difficulty in securing
capital. The crisis has helped us in
this respect, that it has demonstrated
to the world. and to no Scountry more
than England, that we Ian take care
of ourselves over here The way New
York withstood the crash was sur
prise to Londoners, and an agreeable
one, can assure you, to Americans
staying in London, at the time. 1t
opened the eyes of foreigners and
raised this country considerably in
their estimation as money centre.
This better impression regarding
American affairs" continued Mr.. Page
''comes at time when England is feel
ing that we have scored point ahead
of her in gathering the South Ameri-
can republics under our wing and in
suring the stability of the Govern.
ments on the plan outlined by Secre-
tary Blaine. His policy is regarded
abroad as notice to European coun-
tries that America has the power and
strength to dominate the Western
Hemisphere and that we are going to
do it. England was preparing to dc
just what Secretary Blaine has done
in South American affairs, and his an
ticipation of their purpose has brought
them to regard him as the leading
statesman of our county. This and
his reciprocity policy have fixed for
ever his status abroad as the foremost
American in public life. IN. Y. Tri
bltne.