The midland journal. (Rising Sun, Md.) 1885-1947, 1896-08-21
LIVE ISSUES.
What the Gold Standard Has Done for
the United States in 40 Years.

bonds of the vast Pennsylvania
railroad system is said to be owned
in Europe.
Nearly all the Illinois Central
railroad, extending from Chicago to
New Orleans, with great city prop
critics, and branches and laterals, is
owned in Holland.
Great ownership in the immense
properties of the New York Central
Railroad Company, and all its vast
connections, is held in Europe.
A controlling interest in the
Great Northern railroad, running
from Lake Superior to the Pacific
Ocean, is owned in England.
A controlling interest in the
Northern Pacific railroad, lying
south of and as extensive as the
last-named railroad, is owned in
Germany.
Large, if not controlling, interests
in every other important railroad
in the United States are owned by
European investors.
The immense Carnegie Iron
Works at Homestead, in Pensyl-
vania, are owned principally in
Scotland.
The controlling interest in the
famed Pillsbury Touring mills at
Minneapolis, the largest in the
world, is owned in England.
The great iron mines Of the Lake
Superior region, said to produce
100000 tons ofiron ore year, are
largely held by English investors.
A controlling interest in the
Grant smelters in Denver and
Omaha, the largest in the world, is
owned by Englishmen.
Foreigners own immense interests
in the breweries of the country,
largely if not controllingly.
The largest bankers of New York
are foreigners, or representatives of
foreign banking houses. These are
the great gold shippers.
A large percentage of our fire and
marine insurance is in foreign in
surance companies.
Five sixths of all the freightage
of our foreign commerce is carried
in foreign vessels.
Foreigners own two millions of
acres of our farming lands.
They own many millions of dol
lars in value of our city properties.
Their mortgage loans overspread
the face of the country.
Foreign capitalists own hundreds
of millions of United States bonds
and State bonds; and they own
untold millions of city bonds and
other municipal obligations in the
United States, and vast amounts of
other properties not here specially
stated.
So great has become the aggre-
gate of all these ownerships in Unit
ed States properties by foreigners
living in foreign countries that the
aggregate cannot be less than
$1,000, 100000 or $4,000, 900, 200,
with an average of earnings of not
less than 5 per cent per annum.
Besides, there are great numbers
of wealthy people who are annual
tourists to foreign countries; tour
lists who live extensively, and in
vest large sums of American money
in European Injuries and costly
productions. The sums so expend-
ed have been estimated at $780,
100000 yearly. This is probably
excessive, but the amounts are
known to be very great.
The aggregate of all these Euro
pean dues on investments in this
country, and expenditures by our
tourist classes, may with fairness
and moderation be placed at 800,
900, 900 each year. This is Europe's
annual money demand upon the
United States, to be responded to
in gold or gold values, in new rail
road or other investments, or trade
balances.
For the year 1894 the Secretary of the
Treasury reports, page 16 of his late
report, United States exports of mer-
chandise to foreign countries .SS92, 81
Our imports of merchandise for the
same year the Secretary reports at 654,99l, 500
Our import accounts are made up on
bills of purchase in Europe. Add
per cent to the last above statement
for transportation to the United States,
interest, and insurance S2,749'731
Making a total of 6s7,74, 1853
Excess of exports of merchandise