The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1898-12-29
AFTER WORLDS MARKETS
New World Energy Aston
ishing Europe.
A NATION OF SHOPKEEPERS
England Awakes TO the Aggressive
Commercial Prosperity of the United
States-Decreaso of British Exports

London. Dec. 81. 1T is no cxaggers.
ton to assert that the foremost topic
compelling attention in Europe is gem
eral and in Great Britain in particular,
overshadowing the dIeary broils of do
nestle politics, ia the remarkable az.
gressive commercial prosperity which
the United States ia manifesting.
Hardly newspaper review or pubic
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
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
q position to dictate money rates to
London, Berlin and Paris" The
bank manager added that London's
purchases of American securities were
a feathers weight compared with the
balance Of trade in New York's favor.
James Brice, in a speech before tho
Leicester chamber of commerce, sound
Ell warning to British manufacturers.
He emphasized the fact that the ex-
ports of the United States and Ger
many had increased G34, 900, 900 and
Gel, 900, 900 respectively between 1891
and 1897. while Great Britain's de-
creased els. 100000. He further
pointed out tina. 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 inIonds
upon the British reserve. Colonel
Hunsaker, the Carnegie representa-.
tive. has contracted for 800 tons of
plates for the Coolgardie road, Austria
lia, and the company was unable to I'M
dertake the contract for 10000 tons
more.
A dispatch from Berlin saws it is
fact that the Russian government has
ordered so, 900 tons of American rails,
and the prospect of American COMPETE
ton 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-
tically 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 reapipg incidental political
advantages. But, it is admitted that
it is a question of short time when
capitalists will have to reckon with
New York as a competitor in high
finance. The Daily Chronicle COM
ments upon the fact that American
capitalists "have the courage of their
financial opinions il 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 a 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
ablest men to Washington, though q
transfer from Washington to Constan-
tinople or Madrid has hitherto been
considered in the service as being
promotion. Russia expects President
Mckinley to reciprOcate. Mr.. Hitch
cock carries home with him the cOnvic-
ton that Russia is still a 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 Rrotbars