The Indianapolis journal., 1899-01-29
SPEECH BY CHAMBERLAIN
ON THE COOPERATION OF ALL EN-
GLISH-SPEAKING PEOPLES.
Dewey Quoted to Support Britain's
Imperial POIicy-CeciI RhOdes's
Mission to London.
tcopyrlght, 1ses. bz the Associated press.l


British investors towards American bust
ness underwent a notable change during
the past week. The mind of the British
public is always slow to grasp changes, and
people here are only just beginning to
realize what financiers and politicians have
for months considered the most important
fact of the year-the tremendous CONNER
cial advancement of the United States.
Ever since the Venezuelan affair the only
idea of British holders of American securi-
ties has been to sell whenever they could
do so with any profit or without too great
a loss. In the beginning of the present up
ward rush of American stocks both specu-
lators and conservative holders of trans
atlantic securities were eager TO take
advantage of the opportunity to un-
load, the former selling for profit, N view
of the crash in the market which was
deemed inevitable; the latter to get rid of
what they regarded as unsafe property
which they had been long holding. Both
British and American financierS who talked
with a representative of the Associated
Press on the subject agree that the pendu-
lum has now begun to swing in the other
direction. Investors, seeing that the antici-
pated disasters do not materialize, and that
the United States is apparently in for a
the conclusion that they were overhasty in
unloading their American holdings. They
are retracing their steps and are giving
orders to their brokers to rebuy the stocks
they discarded with feeling of joy at get
ting rid of deadwood, though the news
papers are still croaking dismally over the
panic which Wall street is destined to wit
ness in the future, according to all
their prophecies.
Business men who have been interviewed
by a representative of the Associated Press
agree that, so far as all the lines of legiti-
mate industry are concerned, the United
States has every reason to be optimistic.
Mr.. Alfred Charles de Rothschild, of the n.
M Rothschild & Sons, spoke enthusiastic
cally of the American outlook. He said
There seems to be a period of unparalleled
prosperity before America. So far as Amer
lean investments are concerned, the public
must, as in any other field, discriminate be-
tween what is good and what is bad. But
your crops, your manufactures and COM
merce all seem to combine to place the
country an unusually sound basis, which
cannot fail to awaken admiration through
out the world"
One of the most prominent bankers re-
marked: THE United States is rather too
enterprising for the peace of mind of Eu-
rope. 1t is rather hard to believe that the
statistics of American exports can be true"
Ills comment seems TO represent the views
of others.
The Statist is not sure the figures of
American business represent increased pros
perity. From the decrease in imports it
argues that the high tariff is compelling the
poorer classes to deny themselves many
comforts, and that the farmers during the
years Of depression, contracted debts which
they are determined to pay before they al
low themselves their customary comforts.
The Spectator sermoniZeS on the effect of
the speculative boom on the national char
acter, and says: Ten per cent of the whole
population are having a good big gamble,
and, being Americans, who don't care much
when they are ruined, they are enjoying
themselves nightly" This paper believes
that the principal effect of such booms is to
increase national sanguineness, adding: mo
typical American ever fears any result of his
own action; but there are few typical
Americans without some look OF care"
England has been enjoying little boom
of her own in South African mining enter
prises, to which impetus has been given
by the presence here of Mr.. Cecil Rhodes
the South African magnate, but when at
tracted small attention in the newspapers
in comparison with the more sensa tiOual
business across the Atlantic. Mr. RhodeS's
agent, DR.. Rutherford Harris, says the
Cabinet has promised an imperial guarantee
OF the cape to Cairo Railroad from Eulu-
wayo to the Zambesi river, a distance of $50
miles, and, when that section is completed,
the government will probably guarantee the
road to Lake Tanganyika.
There IS an interesting story of Mr.
RhodeS's services in connection with the
Sudan campaign, which, incidentally, played
an important part in influencing the Cabinet
in his favor. The government it appears
could not buy the engines and plant neces-
Sary to operate general Kitchener'S STRAIT
egic railroad which has ar unusual gauge
and when Mr.. Rhodes heard of this he sac
rificed the equipment bought for the Brit
Is any nd
so enabled the campaign TO be finished near
ly year sooner than would have been pos
sible if he had not come to the rescue.
A representative of the Associated Press
has had an interview with the Rev. Mr.
Werner of the American Presbyterian Con-
go mission who has just arrived in Eng
land on his way to America after four
years residence at Luebo, in the Kassaid
district. He said: The present mutiny is
probably the last desperate attempt to throw
off the white mans control 1t is also the
most serious outbreak, on account of the
inaccessibllity OF the region. When 1t is
remenIb bered that Baron Dhanis (the Belgian
commander) is 500 miles from his base of
supplies, with only aehandful of whites, it
is small wonder that so many Europeans
have already been sacrificed, and it will oc-
casion no surprise If further disasters await
the Belgtans. Nothing but building a rail-
way is likely to effectually suppress the
rebellion. According to my latest informa-
ton, Baron DhanlS is practically surround
ed by mutinouS natives and it is reported
that panic reigns throughout the Congo ter
ritory. However, this may be untrue"
Mr.. Werner admitted that there had been
some isolated cases of bad conduct upon
the part of subordinate white officers. But
nc explained the administration, as a whole.
is wei intentioned and improving. Most of
the reports of maladminiStration and bar
barty," he added, ARE either untrue or
greatly exaggerated. Naturally, it is ex-
tremely difficult for the central authorities
TO control the action of officers in remote
regions, and much trouble might be avoided
by due respect to native customs and su-
perstitions
France. as the incendiary factor IN Euro
pean politics, has suddenly subsided. The
diplomats in London and Paris are confer
ring daily, which, in connection with the
hints of the home secretary, Sir Matthew
White Ridley in his speech at the Unionist
demonstration at Black Pool, on Jan. 6,
gives color to thG story that a great treaty
is being made by which all the disputes
between Great Britain and France will be
settled. One report, which finds credence,
is to the effect that Great Britain gives
France the Congo Free State as compensa-
tion for her demands in connection with
Madagascar and Newfoundland and to pla-
cate her for the conquest of the Sudan.
Whatever may be the reason. the tone of
the French statesmen and press toward
Great Britain has shifted to one of con-
at Cairo to attack British rule has ceased
TF.fr4 fr crnrar