The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-12-26
Her Rapid
Strides
TALK OF EUROPE.


/ iCopyrlght, 1893, the Associated Press. }
London, Dee. 25.-It is no exaggera-
ton to assert that the foremost topic
compelling attention in Europe in gen
eral and in Great Britain in particular.
overshadowing the dreary broils of do
nestle politics, is the remarkable ag-
! gressive commercial prosperity which
/ the United States is manifesting.
/ Hardly newspaper review or a pub
| lie speaker during the past month has
failed to notice with what giant strides
America is coming into the first place
in the alignment Of the powers. 1t is
certainly the chief subject of conversa-
ton on Lombard street and on the con-
! tinental bourses.
The manager of one of the greatest
London banks recently drew an Ameri-
can business man into his private office
and said in an awestruck tone:
This is the first time in the history
of finance that New York has been in a
position to dictate money rates to Lon
don, Berlin and Paris"
| The bank manager added that Lon
don's purchases of American securities
were a feathers weight compared with
the balance of trade in New York s ia
VOr.
/ James Bryce, in a speech before the
/ Leicester Chamber of Commerce,
sounded a warning to British manufac-
turers. He emphasized the fact that
the exports of the United States and
| Germany had increased &34. 0OO 900 and
/ e21, 900, 600, respectively, between 1891
and 1897, while Great Britain's de-
creased 915000 600. He further pointed
out that the business of the United
States was developing along many I'M
! pOrtant lines, which Great Britain, he
added, should have held against all
competitors. Mr. Bryce unhesitatingly
/ asserted that the United States could
produce rails cheaper Jnan Great BIZ
/ tain. and said he saw no possibility OF
opening new markets, except in China.
/ Great Britain seems to have become
1 reconciled to the capture of the iron
markets by the United States Ameri-
can firms are uniformly successful in
bidding against the British firms. The
! Carnegie Company and the Illinois
Steel Company have opened extensive
offices in London, and are making m
roads upon the British preserves. Col.
/ Hunsiker, the Carnegie representative,
! has contracted for 10000 tons of plates
! for the Coolgardie road, Australia, and
/
the contract for 80, 600 tons more.
A dispatch from Berlin says it is a
fact that the Russian government has
ordered $4,000 tons of American rams
and the prospect of American competi-
ton for the contracts in connection
with Russias extensive railroads
alarms manufacturers here and else
where. Consuls assert that all Europe
4 is sWarming as never before with the
agents of American manufacturers OF
steel, street railroads, electrical appar-
atus and all kinds of machinery, who
are leading the commercial invasion
The reports of attempts to float .
Russian loan in New York have beer
received sceptically here.
Several financieTs have told repre-
IsentatiVes of the Associated Press tina
Russia tried to raise money in Lon
don, Paris, Berlin and Amsterdam, anC
that she seems to have turned to the
United States as a forlorn hope, posi-
: bly, with the view of reaping incidental
political advantages. But, it is ad
mitted that it is a question of a shor
time when capitalists win have t.
reckon with New York as a competito
in high finance.
The Daily Chronicle comments upol
the fact that American capitalist:
have the courage of their financia
! opinions. if they think they know the
) European situation better than thu
capitalists of the old world"
There is much interest here regard
ing the choice of a successor to Ethan
, Allen Hitchcock as United States am
bassador at St. Petersburg. 1t is con
sidered that the post demands thu
, presence Of the strongest diplomat. il
view of the entrance of the UniteC
States into the east. Russia has sen
one of her ablest men to Washington
though a transfer from Washington t
+ Constantinople or Madrid has hitherto
been considered in the service as be
ing a promotion. Russia expects Presi
dent Mckinley to reciprocate.
Mr.. Hitchcock carries home with hin
the conviction that Russia is still
staunch friend of America, which HI
has endeavored to impress upon The
state department at Washington anC
on all influential Americans he ha!
met abroad.
The English habit of entirely drop
ping serious affairs at the holiday sea
son, has respited the squabbles abou
the liberal leadership. But Sir Ed
ward Russell. who is writing his re
miniscenees, furnished material for {
new controversy. He writes that wher
Lord Rosebery was resigning tIt
premiership the queen earnestly, al
most affectionately begged him not t.
turn conservative. He explains thai
her majesty breads the alignment of al
the aristocracy on the tory side against
all the commonalty on the liberal side
Lord Rosebery has promptly requested
the newspapers to deny the statement
and Sir Edward Russell says:
Il have good reason to believe it is
true. though nobody shall drag from
me my authority"
The English newspapers, pursuing
their traditional policy of keeping tn,
| sovereign above partisan politics, re
! frain from commenting upon the Incl
dent, but the people discuss the story
with the utmost interest.