The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-06-02
THE REMEDY FOR THE TROUBLE.

recent ard present financial depression
has been thrust upon the United States
through the indiscretion of English fl
nanciers, the cause being directly trace
able to the much tangled Argentine af-
fairs and the old adsge about the sill
wind, &c" may prove Of itself doubly
applicable in financial affairs on this
side, the ocean.
make the prediction that the money
centre of the world will from hence
forth be in New York instead as hereto
fore in London.
The confidence of the old world has
been shaken as to its estimate of the
Bearings. That blind, unrcasoning
faith in the judgement of the great Eng.
lish banking house has had a rude
shock in the realization that infallibility
did not reside in their management, and
confidence once Withdrawn cannot so
easily be re-established.
Per contra, the soundness of our
American financial centers; the wisdom,
the strategy, the nerve, the readiness in
time of emergency; the ncver-failing
source on demand in New York has
given our money center a prestige, a
degree of newborn confidence in the
minds OF those at home and abroad,
which will teach those with money to
invest that there is new law of
finance, and that the new law is recog-
nzed more freely in the United States
than elsewhere.
The tangled Argentine affairs are the
result of injudicious investment in
purely agricultural country, where it is
impossible to diversity wealth.; the dis.
entangling of these affairs can only be
accomplished through judicious invest
ments in u country like ours. In other
words, those Englishmen who are now
scared to death because of the complica-
tionS and almost inevitable loss of their
investments in the Argentine Republic,
must be taught and are being taught
that they can only be safe in the outlay
of their ''hardearncd money by
sending it to America and especially
the New South. The Duke Of
Marlborough in his expert report
on southern Mines" in advice and
warning 10 the Engl ish investor and in
his recommendation to invest in the
South, says: "You have an Anglo Saxon
race of sixty million of people who work
like beavers, developing your property
and adding to its value every day, if you
own realistic investments, and this is
far better property than Buenos Ayres
Water. Works and Argentine Great
Western, or even Buenos Ayres and
Rosario or Great Southern rails, where
there is nothing in the way OF popula-
ton except a few million slow-going
Spaniards or Italians. This is simply u
common sense view Of inves ,mcnt gen
orally, and it seems strange that our
English public do nc / sec the advantage
that is to be derived from JOINT enter
prise with American companies man
aged and direc ted in New York, rather
than in schemes that are run from Lon
don and where the water gets into the
concern before it even belongs to the
English public, is quite colossal
When man of such standing as the
Duke of Marlborough utters such words
it would seem that the breeze was
already stirring which would agitate
the straws of public thought in England
and the continent, and though we know
that great deal Of English money has
gone to the United States, yet when we
reflect that there has been $3.50, 600, 0OO)
seven hundred and fifty millions of dol
lars, English cash, invested in the
| Argentine Republic alone; when we
consider this vast sum of money, as
compared with the few millions from
the same quarter invested in American
enterprises, and again look at the
signs of this times, see the cold wave
signal floating over tho "house OF
Earring and then look upon the mag
niiiccnt opportunities ripening daily in
this paradise, Virginia, can we but to-.
lieve that Marlborough's advice will
be accepted? =.
Whose Blood Was Spilled?