The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-25
FIRST time N HISTORY
The United States Dictates the
Money Rates to Europe.
BRYCE SOUNDS AWARNING
Amsrsoa II Coming to the Front Piscs
IN the Alignment OF Powers with
Great etridss-Controls the Iron
Market OF the World.
Copyrlght ISIS by Associated Press.

Copyright 1895 by Associated Press.
London. Dec. Alt Is no exaggera-
zion to assert that the foremost topic
compelling attention i'm Europe in gen.
eral and in Great Britain In particular.
overshadowing the dreary broils OF do
mestic politics. is the remarkable. ag-
gressive commercial prosperity which
the United States is msnifesting.
Hardly a newspaper review or a public
speaker during the past month has
failed TO notice with what giant strides
America is coming into 49, first place
in the alignment of the powers. II Is
certainly the chief subject OF CONVEX
sation on Lombard street and on the
continental bourses.
The anage of one OF the great
est London banks recently drew an
American business man into his pri-
waite ONCE 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 London, Berlin and Paris"
The bank manager added that Lon
dons purchases OF American securities
N y "tteha
the balance OF trade in New Nork's
favor.
James Bryce. in a speech before the
Leicester chamber of commerce, sound
ed a warning TO British manufacturers.
He emphasized the fact that the ex-
ports of the United States n Ger
many a increased e34. 600. 600 and f21.-
o00. 900 respectively between 1891 and
1897. while Great Britain's decreased
ELS. 600. 900. 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 competi-
tors. Mr.. Bryce u~nhesitatingly assert
ed that the United States could pro-
duce rails cheaper than Great Britain
and said he saw no possibility OF open
Eng new markets except 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 the British firms. The
Carnegie and the Illinois Steel COM
pany have opened extensive offices IN
London and are making inroads upon
British reserves. Colonel Hunsaker,
abe Carnegie representative. has con-
tracted for 30. 900 tons OF plates for the
Coolgardie road. Australia. and the COM
pany was unable to undertake the con-
tract for 80. 200 o. more.
A dispatch from Berlin says II Is a
fact that the Russian government has
ordered so. 900 tons OF American rails.
and the prospect of American competi-
ton for the contracts in connection
with Russia's extensive railroads alarms
manufacturers here and elsewhere.
Consuls assert that all Europe Is
swarming as V before with the
agents of American manufacturers OF
steel, street railroads. electical appa-
..l all EtnAS ~ yaaahfnaFN Whn
are leading the commercial invasion.
The reports of attempts to float a Brit
ish loan i'm New York have been re-
ceived skeptically here. Several a
ciers have told representatives of the
associated press that Russia tried 10
raise money In London. Paris. Berlin
and Amsterdam. and that she seems TO
have turned to the United States as a
forlorn hope. possibly with the view Of
reaping incidental political advantages.
But Il is admitted that IL is n question
of a short time when capitalists VIII
have to reckon with New York as a
competitor in high nance.
The Daily Chronicle comments upon
the fact that American capitalists
''have the courage OF their financial
opinions II they think they know the
European situation better than the cap
dtalists OF the old world"
There Is much interest here regard
the choice of a successor OF Ethan
Allen Hitchcock as United states am
bassador at ST. Petersburg. Ii is con-
eidered that the post demands the pres
ence Of the strongest diplomat, in view
of the entrance of the United States into
the East.
Russia has sent on OF her ablest men
90 Washington. though a %transfer from
Washington to C~onstantinople or Ma
drid has not hitherto been considered
tn the service as being a promotion.
Russia expects President Mckinley TO
reciprocate. Mr.. Hitchcock carries
home with him the conviction that Rus
sia Is still a staunch friend OF America,
which he has e~ndeavored to impress
upon the state department at Washing
ton and on all influential Americans he
has met abroad.