Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-01-14

lished NJ once. one u an American
hank in nucnoa Ayfca and the other
line Of steamers from New York to
the Argentine. calling at the different
ports of Brazil and Montcvidco, aud
making rapid trips from one continent
TO the other. 10th Of these Institutions
would pay we'll The bank would pay
Ut the start There are now more than
sii.oo0.Oo0 worth of exchange between
canada. the United States and the Ar.
gcntinc. and our trade with the cast
coast Of South America amounts to
more than sioo,ooocoo.
Al prercnt oil the banking IL done
through London. ana the bankers there
take toll Of abou, 1 per cont for do
ing II. This n tax u per cent on
trade. None OF the banking compa-
mics Of South America are In the busi-
ness FOR their health or for pleasure.
They charge FOR uyory accommodation,
and they make enormous profits. Some
pay 10 per cent dividend. ana nearly
all give from 10 per cent on deposits
The per cent u generally on accounts
current. and on deposits N nix months
from to . per cent In paid.
ENGLISH BANKS AND WHAT
THEY MAKE.
ilucnon Ayrcn has number Of for
ciEn banks. whose capital runs up into
the miiilonh. Tie London and River
Plate bank has branches IN BRAZIL,
Uruguay ana london. with ita chief
ofhcc IN liucnus Ailcr. ~ capital ~
about seven aud d half million dollars,
and II has ave- million dollars reserve
fund. IT, deposits amount 20 about
eighty million dullnrr. ana on an tim.
dcpositn n PAYS interest This bunk
keeps something like li.O0o.O0O ~ gold
ON hand. The Anglo-AiTrntin bank
has two and uno.quarter million doll
lars capital, nnd the capital OF the
London aud BRAZILIAN bank ~ equal o.
tcyen million ave hundred thousand
dollars " our money. There are strong
Italian banks ~ liuonoH Ayrcn. There
ARE boffnnn banks and spanish banks.
and. IN fact. the only country that does
much buHlnoHl with the Argentine
which has no direct banking cnunsc.
lions with II u the United states.
These banks do not speculate. 'rhey
make two clcnrinEr every day, and 10
- ms ! know ~ e., vinn bank doing
husinenn IN tho Argentine has yet
tniled The bunincra ~ just no safe and
legitimate no that ~ the United states.
and " a syndicate could b. organized
N New York with several million doi-
laru' capital 20 do business IN South
America u might pay big diyldcndr.
such an Institution ml-ht be- rotten up
By the directors " the Insurance com.
panica aud other companies who lond
money. the stockholders to BE- men
WI" arr inicr"atrd IN shipping goods
abroad. 4 manager could BE- sent from
me United states 10 the Argentine to
open TIE bank and connections could
soon BE- established which would make
the institution nay from the start.
Through such bnnK Americana
cpl'd icnrn the standard OF tho hisl.
ness hrniH on the coast of the Atlantic
~ would enable "a large portion Of eur
uaic o. be- done ON safe cnsdlt4 iuYteaJ
OF spot ash ana would put uH on the
SAINT foetlng na the other countries
Mhp fale with the Argcutino. n
would also show the Argcutinra that
w have enough faith IN them 10 ln-
vest money in their country. They
say that the people ~ the United
states have always progressed "a great
friendship for them. but 30 FAR have
never done anything 90 hclp the coun.
Wy alohk, rhuy would like 10 nee
some visible evidence nf our nffnrtion
and say that " the unitod States viii
establish bank nud steamship line
they VIII be- rcady 10 believe IN thom.
ABOUT Our VISITING coAlAIls.
s1oNEiis.
The commissions OF Ho.cnllcd Ameri.
can capitalists whirh have visited tho
NfHontin" republic 10 encourage trtde
nave, 4 am told, done more harm than
food one was nent down "a year or
~ ago, II was widely advertised. aud
the Argentine officials aud capitnilats
n'vpr s',nt prvpa'NiipnH To receive IL.
Whom the comm ION arrived Il was
Uncovered many H. ltH members were
commercial travellers. who had taken
adNantnge of the low rates OF trans
iortntiun Ia turn this International
trade expedition Into "a drumming tour.
one Jew prddlrr opened hls Htuok OF
Jewelfy oh the special ear which the
Nlhehtihc government furnished 60
carry the commissioners from La Plata
10 hucnua AyrrH and tried tn retail his
WAVES a. The distinguished Argentine
who hnd come there to receive tho com.
missioner, Another commercial tray.
eler. man who wore a long frock
coat anu derby hat, represented "a hl-
cycle hrm, aud went from one news
paper office Ia another prupoainr Ia
give the editors bicycles la exchange
Tor ndNertlHing Another man was u
mechanical expert Of one uf nur lead.
ing wagon factories. who went about
thoNiuk pictures NJ his rhup as ID WAS
whom u was started and ns ID M today.
anu nnother was lumber man, who
owned saw min In Alnbamn. rho
whole party, although IL contained
some good men, was. a. far AZ lntefna.
iionnl trade was concerned, n Rori nf a
fAlftnn' o army, ana Ia march through
the Argentine brought rldiouie upon
the business Interests of the United
States.
AZ the same time that thcse CONNER.
cinl travellers we're mafqucrading as
American capitalists some big English
capitalists We're quietly Investing mil
Hons of dollars In Argentine property.
The English capitalists do not SEND ma
uunnl trade commissions. They send
ihrir own financial agents out over the
world with a good bank account behind
Them. They are alwnyH on the look
out for good things, and they can tell
you Just about what percentage nearly
every new enterprise pays,
WHAT ENGLAND OWNS IN
ARGENTINE,
A large amount Of the business done
IN the Argentine Is with Engllah capl-
TAI Ihv best " the railroads are
owned hy the English, They have been
recently buying up the government
lines ana the day VIII come when they
VIII own them all, The Argentine nn,y
has about 1000 miles OF road, repre-
renlng a capital OF more than a half
Billion dollars. Il Is fast Increasing
rs tracknge, and the Southern railway
alone has COO miles of extension In con.
rtrnction which 1t viii complete With
Ia IA year,
The southern railway runs chiefly
Through southern Argentine, ana among
the new lines 1t is building is one across
.