The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-06-12

sell considerable Oregon and California
lumber and not little white pine from
New York. Some American furniture
is imported, chiefly cane-seated chairs
We are importing some printing inks,
and a large part of the furniture and
machinery for the new post office at
Lima is American. The boxes were i'm
ported by us, and the postage stamps
of Peru are made by the American
Bank Note company of New York. The
most of the rolling stock and bridges
for the railroads of Peru have until
now come from America, but, as the
roads have gone into the hands of an
English syndicate, in the future such
articles will probably be shipped from
England" 49,
DRUMMING SOUTH, AMERICA.
Mr.. Crosby says that the commercial
travellers sent down here by some of the
American houses do more harm than
Sood. They do not understand the
Spanish language nor the people They
cut prices and often make statements
which cannot be relisd upon. It is use
less to send man down here who does
not understand the language, and I'M
I'll Spanish-speaking drummers can be
educated as.far as selling, is concerned
should think that dealing through
such firms as the GraceS and Flint,
EDDY q Co., would be most profitable.
These companies will handle anything,
and they charge a cOmmisSiC n on their
sales. Every manufacturing establish
ment in the United States should look
upon this territory as part of it's legi-
innate field. and get into it as soon as
possible. We should at once begin to
educate our commercial travellers in
Spanish, and should have some of our
best statesmen going from city to city
pushing American goods.
1t is useless to send catalogues and
pamphlets, for these are thrown into
the waste baskets. One of the objec-
tionable features of the trade in the
eyes of the American is that most of
the German and English sales are made
with the understanding that the goods
are to be paid for within from thirty
to sixty days after arrival, and that
many Of the firms, while peri. city good,
do not appreciate the value of a few
days interest and are slow in settling
their accounts. The business should
be done on from thirty to sixty days
sight. This is asked by many of the
American statesmen, and the Peruvians
are gradually becoming accustomed to
it.
DECLINE OF SPANISH AMERICA.
AS far as wealth and business Is con-
cerned, 1t seems to me that Spanish
America has the galloping consump-
ton. I do not mean by this that the
business done here is not as great as
in times past. 1t is increasing every
year. But it is rapidly going out of
the hands of the natives and into those
of foreigners This is so not only with
the commercial establishments, but
with every legitimate business that will
Pay a dividend or make a dollar. Some
of the best of the mines are now in
ha Of Ut MI.
big sugar estates, which have made
fortunes for Peruvians in the past, and
in which today working capital of
more than SIT, 900, 900 is employed, have
largely gone into the hands of the Eng
lish. Some estates are owned by Chin
csc, and l have spoken Of the large
holdings of the house of w. r. Grace &
Co. The railways are almost altogether
owned by the English although the
great coal line concession granted ITO
the Pacific Company of New York will
give US a big railway zone in Peru. The
ell fields are chiefly worked by a rich
Italian named Piaggia of Callao, and
several English syndicates. The chief
bakery and brewery of Lima was start
ed by two enterprising Americans
Backus and Johnston-and sold out by
them at a big profit to an English syn
dicate, which is paying large dividends.
HOW THEY DO BUSINESS.
AS to- commercial business, the Peru
vians have allowed it to go almost en-
tirely into foreign hands. Many of them
are ashamed to be engaged in-trade,
ana they have, as people, no business
instincts. They are not a half dozen
native firms in Peru which now do
what would be called a large business.
Inc signs over the stores Of Lima are
German, French, Italian, English and
Chinese. There are about $4,000 Chi
nese in Peru, the most of whom were
originally brought here to work the
sugar estates and guano islands They
are now we'll to do and many of them
have become wealthy. Some of them
own the sugar plantations upon which
they shaved and others have large
mercantile establishments here, The
Germans monopolize to large extent
the dry goods, knick-knacks, hardware
and mining machinery sales of Lima.
They are ready to go into anything in
which they see chance to make
money The Italians are the grocers of
the city, and you find them selling fine
groceries in nearly every big Peruvian
town. The English sell dry goods.
crockery, paints, oils and machinery.
ana the chief dealers in silk, wines and
brandies are the French. There are a
few Spanish book stores. The banks
are almost all foreign and the stock
owned in the dividend paying COM
panies is chiefly in foreign hands.
BETTER THAN FOUR PER CENT.
l find that these people down here
are not satisfied with the low rates Of
interest which now prevail In Europe
and America. Good loans can be got
ten at 10 per cent, and / and per
cent month Is not uncomon on paper
issued for a short time. In some cases
per cent only is asked, but there are
always commissions which increase the
regular interest rates. The pawnbrok-
ers do big business, and you find
them In every block. Many of the
stock companies pay good dividends
The Lima Waterworks company pavs
II per cent quarterly, and the Lima Gas
company, which has a capital of ST.
e00,000 (silver), pays 5 per cent, and the
probability Is that the stock was large
ly watered. The Peruvian Telephone
company, Which furnishes Lima with
it's service at about half the rates
charged IN American cities, gives an
nual dividends Of 10 per cent
The capital Of the telephone company
is $l0O,000. One of the insurance com
pan1es here pays dividends of Is per
cent. A Touring milling company paws
per cent and a wheat warehouse com
pany like amount. Some of the stock
companies which do the best are those
which deal with or through the govern
ment. There is the Society for the Col
lection Of Taxes, which buys the right
of the government to collect the taxes
on alcohol and tobacco. It pays, I be-
lieve, lump sum, and has in place of
1t the revenue receipts. This company
mas a capital of million silver dol
lars, and its stock is 100 per cont a hove