Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1898-12-30
AFTER WORLDS MARKETS
New World Energy Aston
ishing Europe.
A NATION OF sHoPKEEPERs
England Awakes to tho Aggressive
Commercial Prosperity of the United
States-Decrease of British Exports.

ton to assert that the foremost topic
compelling attention in Europe is gen.
eral and in Great Britain in particular,
Overshadowng the dreary broils of do
mestic politics, is the remarkable ag-
gresslve commercial prosperity which
the United States is manifesting.
Hardly newspaper review or public
speaker duing 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-
tion on Lombard street and on the
Continental 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 awe-struck tone:
This is the first time in the history
of finance that New York has been in
position to dictate money rates to
London, Berlin and Paris" The
bank manager added that London's
purchases of American securities were
feathers weight compared with the
balance of trade in New York's favor.
James Brice, in a speech before the
leicester chamber of commerce, sound
ed warning to British manufacturers.
He emphasized the fact that the ex-
ports of the United States and Ger
many had increased G34, ,000,0O0 and
e21 900, 900 respectively between 1891
and 1897. while Great Britain's de-
creased 915,000,000. He further
pointed out that the business of the
United States was developing along
many important lines which Great
Britain, he added, should have held
against all competitors. Mr.. Brice un-
hesitatingly asserted that the United
States could produce rails cheaper than
Great Britain, and he said he saw no
possibility of opening new markets ex-
cept in China.
Great Britain seems to have become
reconciled to the capture of the iron
markets by the United States. Ameri-
can firms are uniformly successful in
bidding against British firms. The
Carnegie company and the Illinois Steel
Company have opened extensive offices
in London and are making inroads
upon the British reserve. Colonel
Hunsaker, the Carnegie representa-
tive, has contracted for 10000 tons of
plates for the Coolgardie road, Austria
liza, and the company was unable to un-
dertake the contract for 10000 tons
more.
A dispatch from Berlin saws it is
fact that the Russian government has
ordered $4,000 tons of American rails,
and the prospect of American cOmpeti-
tion for the contracts in connection
with Russia's extensive railroads
alarms manufacturers here and else
where. Consuls assert that all Europe
is swarming, as never before, with
agents of American manufacturers of
steel, street railroads, electrical appa-
ratus and all kinds of machinery, who
are leading the commercial invasion.
The attempts to float Russian loan
In New York have been received skep-
ticalIy here. Several financiels have
told representatives of the press that
Russia tried to raise money in London.
Paris, Berlin and Amsterdam, and that
she seems to have turned to the United
States as forlorn hope, possibly with
the view of reapiDg incidental political
advantages. But, it is admitted that
it is question of a short time when
capitalists will have to reckon with
New York as Il competitor in high
finance. The Daily Chronicle com
ments upon the fact that American
capitalists "have the courage of their
financial opinions if they think they
know the European situation better
than the capitalists Of the Old World"
There is much interest here regard
ing the choice of successor of Ethan
Allen Hitchcock as ambassador at St
Petersburg. 1t is considered that the
post demands the presence of the
strongest diplomat. in view of the en-
trance OF the United States into the
East. Russia has sent one of her
abIest men to Washington, though a
transfer from Washington to Constan-
tinople or Madrid has hitherto been
considered in the service as being n
promotion. Russia expects President
Mckinley to reciprocate. Mr.. Hitch
cock carries home with him the convio.
tion that Russia is still stanch friend
of America, which he has endeavored
to impress upon the state department
at Washington and on all influential
Americans he has met abroad,
Boy Kills Two Brothers.