Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1898-12-30
America for Americans.

With the close of the year the Amer
lean people have every reason to feel
complaisant and satisfied with the ac-
complishments of 1898. Of the war and
it's results every one knows. Concern
ing what it has cost to the present time,
the advantages gained and the ques-
ions which have arisen for solution,
there is no need to enter into any
lengthy dissertation; the conflict was
waged and won, and now comes the
settlement of those matters which are
entirely new to the United States.
tended the efforts of the nation in I'M
dertaking civiliZing contracts in the
nast. there is no ne" i"' "ff'
in the future. Success inspires conf
dence, and in turn confidence brings
success. .
But of trade conditions so much is
not generally known. To learn of what
has been accomplished in extending eX-
ports, in finding new markets for Amer
lean products, it is only necessary to
turn to the sayings of British states
men, which have been uttered in the
past three months. Since the close of
the war with Spain, When there has
been time for American and foreign
statisticians to look around and grasp
actual conditions, there has been a
wonderful discovery made, and that is,
the United States has become the
greatest exporting nation in the world
and Great Britain has been compelled
to take second place among the traders
and sellers. 1t is now known that
America is producing steel and iron
cheaper than any other country, and
by reason Of that one item is consid-
cred the most formidable competitor in
the markets of the world for railorad
equipment and has virtually captured
all the contracts let the present year in
foreign countries. In the other indus
tries of the country as great advance
ment has been made. About the only
commodities this country is compelled
to import are those which cannot he
raised by reason of adverse conditions
of soil and climate. The fact is that the
markets of the world have been cap
tured by American manufacturers and
producers of food supplies under a pol
icy of protection, in spite of the fact
that free traders have declared that
such a thing was impossible-the i'm
possible often happens, when practical
ideas are used in place of theories.
Perhaps the most remarkable change
that has occurred in the financial world
has taken place in the money market.
Up to the. past three months London,
Berlin and Paris have controlled a mo-
nopoly of the lending and rate making
business, but that has been changed,
and now New York and Chicago are the
di%ctators. This is causing consterna-
ton on the other side of the big pond.
That a nation only a little over 100
| years of age should step into the money
| world an command the situation is al
most beyond belief, but it is true, new
| ertheless. Only a few days ago the
| manager of one of the greatest banking
| institutions in England said to an
| American representative of a similar
| institutions. This is the first time in
| the history of finance that New York
| has been in a position to dictate money
| rates to London, Berlin and Paris. Lon
don's purchases of American securities
| are but a featherweight compared to
the balance of trade in New York'S ia
vor." And that expressed the situation
in as few words as it could possibly be
summed up in. That balance will have
to be paid sooner or later, and there is
nothing now in sight which will prevent
large sums of gold coming to this coun-
try soon after the New Year. Nor is
that all. The exports of American prod
ucts are not growing any less than they
were for 1897 and 1893; on the other
| hand, they are increasing, and the bal
| ance in favor of this country is grow
ing. SO much for foreign trade. What
| of domestic commerce?
In answer to hat question it is only
| necessary to point to the earnings OF
the many great railroad systems of the
land. The railroad that has not PAID
it's stockholders some kind of a divi-
lend in 1898 has been of few miles in