The Providence news. (Providence [R.I.]) 1891-1906, 1898-05-27
MoneyLoss
To
Europeans

money which the pursuit of Spanish
warships Is costing the United States
there is being kept in the country by
the war many millions of dollara In
ordinary years this money goes to Eu
rope and purchases old silver, china,
paintings sculptures, specimens of the
nobility and other Injuries This year
1t stays at home in America and II
either expended or invested here be.
cause it's owners do not feel inclined Il
leave the country while the difficulty ii
unsettled.
Tho place for an American when his
country is at war is America" said
Governor Flower when he stepped of
the st. Paul at the end of her last trip
as the property Of the American line.
This is the feeling that keeps thou.
sands Of men at home or brings them
back from Europe. More thousands than
are influenced by this cause find it in
compatible with their business inter-
ests to separate them from themselves
by the breadth Of an ocean.
"You never can tell what war Is GO
ing to bring about in my line,'' says
the business man. my best hold is to
stay here and keep my eyes Open.
And If he stays at home SO does his
family in nine cases out Of ten. Taking
into consideration all who for one cause
or another have already changed their
plans of crossing the Atlantic this sea-
son or will change them, it is pretty
safe assertion that the transatlantic
travel Of 1898 will be cut down to about
so per cent Of that of 1897. Some lines
will be affected more than others per-
haps, and none of the companies will
admit any such decrease thus far, but
the immediate future is considera-
tion difficult for them to view with
equanimity. Tho practical departure
from the field of one great line, the
American, whose ships are now scout
ing around the ocean for Uncle Sam,
has thrown considerable custom upon
the other companies which they would
not ordinarily get, and this has served
to moderate the loss Of traffic. Never
theless the manager Of q well known
line said only few days ago:
Half Of our reservations Of last win
ter have been cancelled. We have been
doing pretty well SO far, but unless the
war ends quickly the summer is going
to be a hard blow to us.
Accurate figures are impossible to OBJ
tain, but it has been estimated that full
ly 500, 000,00 was spent in Europe
last year by Americans, this sum in
cluding the cost of travel across and
back over the Atlantic. Some 90, 900
persons went abroad. Now, assume that
half Of the persons who would otherwise
have gone will stay home on account Of
the war. There is 500, 900, 900 kept in
the United States. But this is assum-
ing that the so per cent of stay at
homes represent 80 per cent of the
amount spent abroad. AS matter Of
TACT, they represent far more than this,
FOR the men restrained from going by
the ticklish state of business in war
times are tho men Of great interests,
who are able to and do spend large sums
IF money in making purchases in Eu-
,ope. AS for the economical tourists,
hose who save enough to go to Europe
,nce in a lifetime, any slight inclina-
ion they might have toward staying at
nome this year is augmented by the
act that in 1900 comes the Paris expo
ition, which will be worth waiting
or. A we'll known banker of New York
'ity estimates that from 500, 900, 900 to
'75, 900, 600 will be kept at home this
rear unless the war should end very
peedily.
The steamship lines are firm enough
o weather the storm and be ready for
n increase Of business next season. It
8 ON the European tourist resorts that
he blow will fall most heavily, and
france, which Is bowling because her
spanish bonds are edeteriorating in value
through the humble efforts Of this coun-
ry, is likely to attune her voice to
ew note Of mourning when she finds |
he American dollar lying stationary at
ome instead of rolling her way. Swift
erland, which almost lives ON the Amer
can tourist, will also suffer very severe
y. About $15, 600, 600 is spent every |
ear in travelling expenses about Europe i
y tourists. Europe will be fortunate if |
alf that amount Is spent this year,
always, that the war lasts
through tho summer.
1t iswell within the possibilities that
swift end should come to the war. In |
hat case an unprecedented rush for
accommodations will re-
nlt and the lines will undoubtedly be
with business. All the calcu-
atoms Of the companies are based upon
MS possibility. New York Sun.