Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-06-06

while we who may not travel will cen stick
fast where we are and help to make America
venerable in the imagination" of posterity.
| SIeNET.
NEW YORK GOSSIP.
The Chinese Have Been Apt Scholars in
Foreign Financial Methods.
rHrs rs ILLUSTRATED IN THE RECENT FAILURE Oh
| THE HOUSE OF RUSSELL 4 co.-pRs. RArSsFoRp
AND WILSON TO PART-SEwsPAPER GOSSIP
| METROPOLITAN NOTES.
| Special Correspondence of The Evening Star.
| New YORK. June 4, 1891.
The suspension Of the great house of Russell
| 4 Co. of New York and China almost marks an
epoch. For two generations this house has
represented the best financial Judgment and
skill Of the "foreign devil" The house is as
| ISOLATED with the career Of the late A. A. Low,
father Of Seth Low, one Of the great historic
| merchants Of America and it has always had
behind it very shrewd and strong men. But the
fact is that the Chinese are too smart for even
| the smartest foreigner. For the time being,
while foreign business principles were as yet
| not understood by the Heather Chinee,' for
| eigners could do business proftably in their
domains, but the Chinese have been very apt
students in banking by foreign methods, and
when their lesson was learned the foreigners
had no chance whatever. The recent
endorsements OF the Hong Kong and
and Shanghai Bank furnish strikin e
proof of this inability of the exotic inancier to
strike his roots deeply into Chinese soil. and
peats the lesson. For many years foreign
bankers have been completely at the mercy Of
their native shroffs These people hold in
their sensitive fingers the integrity Of the
currency and dictate profit or loss to their
employers. No one can do business without
their aid as middlemen, and they have used
their monopoly with a "reminiscences which has
pretty much driven out the foreigner from the
| field. Not bag of Mexican dollars goes over
| any counter in China unless each coin is
touched by ahroff and its value determined
They are supposed to be infallible in their
| ability to detect short weight, and still never
saw two shroffs decide upon the same bag
OF Mexicans alike. However. they are bound to-
gether by the customary Chinese trades union
ism and show solid front to any attack from the
| outside and it is impossible to do any business
with the Chinese except as they pass on the cir
culating medium. The evil has grown worse
| and worse OF late years. until now the native
money changers and accountants monopolize
about all the gains to be made out of any BUSH
| ness on the coast. In this policy, of course
they may reckon confidently on the favor Of the
home government, which looks with horror and
contempt on any profits deviated from the Chi
nese themselves to the pockets of outsiders.
For years, therefore, it has been very hard sled
ding for foreign firms on the China coast and
probably we shall see fewer and fewer of those
great houses and colossal fortunes which char
acterized the China trade in days past. And
what Is true OF China, is, to less extent, true
Of Japan.
THE LATEST NEWSPAPER GOSSIP.
Newspaper news Is again Of general interest
After many years Of rumors Col Cockerill has
actually left the World and started into Jour-
nalism on his own hook He has bought the Conn
n,erciat- advertiser and the Daily Continent. and
now the question is whether the new combina-
ton will not lose much money as both the
separate members of it did alone. He paid
900 for the Commercial Advertiser, which is
rather less than the Goodwin family paid for
it. believe, and they have been losing money
steadily ever since their purchase. The Daily
Continent was very unfortunate speculation
on Mr.. Munsey's part, and no doubt he is glad
to get rid Of it at any price. Col. Cockerill's
principal hacker in the new venture is John
Stotson of the Boston Atheneum. 1t is re-
ported that young Mr.. Hearst of California is
also interested in the new company. No change
has yet appeared in the looks or the con-
tents of the Commercial A advertiser, but no
doubt when the new administration gets UNDER
way we shall see marked differences. Col.
Cockerill wanted to buy the Press also. but
Mr.. Phillips would not sell. He has now got
the Press on paying basis, and being very
wealthy he feels disposed to hold on
to it and make it what he always meant 1t
should be-a republican paper for the millions.
without any such pronounced personal favorit-
ism as marks the Tribune The accession of
Mr.. Merrill, from the Philadelphia Press, will
strengthen its New York namesake. as Mr..
Merrill has shown JOURNALISTIC b ability Of high
order and has brought the Philadelphia Press
wei! to the front among the great newspapers
Of the country.
DRs. RAINsFoRD AND WILSON TO PART.
An interesting piece Of news is out today in
the shape of the announcement that DR.. Henry
s. Wilson, who for many years has been DR..
Ralnsfords principal assistant at st. Georges
Church, has resigned and will leave the parish,
for the reason that he cannot agree with DR..
Rainsford on 'doctrinal points. Just what ia
meant by this does not yet appear. DR.. Rains
ford's views are supposed to be liberal enough
to suit most people, but the friends of DR..
Wilson know that he has been even more ex-
treme in his tendency toward informal and
non-sectarian theories Of work. A few months
| ago his daughter joined the Salvation Army,
and it is supposed that DR.. Wilson himself
looks upon the methods Of these forces with
considerable -sympathy, if not approba-
ton. DR.. Wilson has done wonderful
work on the East Side, and his retirement
from the clergy Of st. Georges will seriously
cripple its efficiency. During DIR. Rainsford's
long illness and absence he practically was in
| charge OF the vast work Of the parish and fully
TIC TtputatlOn Oh the cRurCQ a. the
most vigorous mission organization in Pro-
| testant New York. He is very volcano of
energy and is certain to be heard from, what
ever his point OF view or new position.
METROPOLITAN NOTES.
That portion of our society that copies as
abjectly as possible the eccentricities Of the
British aristocracy are just now very much ex-
| cited over the delights Of baccarat. The
mysteries Of this game are studied
by the people who wish to be con-
sidered particularly smart or English and
| good many quiet games are going
| on. I have not heard as yet of any
gilded youth who has sacrificed himself on the
| altar Of anglophobia by cheating and allowing
himself to be detected at the game in order to
| duplicate the experiences which are just now
gratifying fashionable society in London.
Probably, however, that will come along in due
time.
Three more men have been put aside for ex-
| ecution by electricity. After the terrible ex-
| perience we had last year it was almost taken
for granted that We had seen the last of electric
executions, but the horror at the death scene
| did not prove strong enough to overcome
legislative inertia last winter, and hence
it will be necessary to experiment. again
that the lawyers and the business men who are
| fighting eectrocution will be able to delay the
carrying out Of the penalty till the legislature
has another chance to repeal the law; but this
is very doubtful and perhaps 1t is just as well
| to have the law given q more thorough and
| careful trial before it il either definitely 40
| cepted or abandoned.
Secretary Fosters visit has been the subject
| of infinite gossip and talk among politicians,