Arizona republican., 1898-09-08
A WAITING FLOOD OF GOLD
Damned Up in Europe-Ihe Prospect of a Broader and More Stable BuSi- ness in the United States Based
 on Many Circumstances.

lead to much larger foreign invest mentS than hitherto. It may be ar- gued with a very proper degree of self satisfaction that we are independent Of foreign buyers and can carry our stock ourselves This sounds we'll and is an advantageous exhibition of financial strength; yet, if foreigners will buy our investments on a 31k to per cent basis, it is certainly to our interest to let them go and give our bankers the opportunity of encourag ing new enterprises that will bring much larger returns, besides giving added employment to American labor and larger activity to general business.
 The home political situation is more satisfactory than usual. The assem- bling of congress next winter will be welcomed rather than dreaded Old disturbing issues are dead, and the passage of a sound money bill through both the house and senate is as certain as any future event can be. This will have an important effect abroad. The remarkable peace manifesto of the czar should have a good Influence. Though ideal and not likely to accomplish what it proposes, it is starting point in the right direction. Russia is not as strong as she appears, nor is she at all prepared for war; but it would be unjust and ungenerous not to c edif the czar with a noble resolve to av>rt what has threatened to be the most serious conflict of the century. Inter- national disarmament is a Utopian dream at present; and no nation has done more to prevent it's realization than Russia The czar's change of front is consequently of the most far reaching importance.
 The czar has doubtless been inspired by the attitude of the United States in the war with Spain, the incentive of which was humanity's sake. The czar now advocates peace for the sake of humanity, believing that a peace con- bination of the great nations will be fOrcible enough to prevent great wars in the future and thus carry out Amer ica's policy of settling disputes through arbitration instead of by the sword. There is no disgusting the fact that European nations have been made to open their eyes as to the eff feet of modern weapons and the great skill and science displayed in our re- cent war with Spain, which has les Sened confidence in their own war de- lenses. There has been no record at all comparable with our two great naval conflicts which through up to date implements of war enabled our well trained. skillful and brainy ofi- cers and sailors to destroy the Spanish battleships. quite equal to our own as such, and an immense number of lives. with loss of but one man on our side, thus showing that we protect the lives of our sailors while dealing death and destruction to our enemy.
 This remarkable exhibition when re- corded in history for future genera tions cannot fail to read like fiction. Its moral effect upon the great Eu- ropean nations is shown by the czar's action as the first outcome therefrom. Germany has felt strong heretofore in her triple alliance; Russia and France have felt equally so by their de- fensive and offensive connection. What will it all amount to in the event of an alliance between the United States and Great Britain? In the event of a great naval conflict with continental alliances on the one side. the English speaking race would be very, apt to combine, which if done would easily reduce to a peace footing all other races and tongues.