The age-herald., 1899-03-22
INDEPENDENT OF
 FOREIGN NATIONS Tha United States Now Its Own
 FinalCi0r. NO ASSISTANCE NEEDED During the Spanish Var, and None
 Will B0 TO PLACE GOLD IN CIRCULATION Secretary Gage Determined That the Yellow Metal Shall be Put in Use Much Opposition to the Coin
 is Being Encountered.
TO PLACE GOLD IN CIRCULATION

Washington March H.-(Special.)- .)-Secre- tary Gage believes that the United States has become financially independent of Flu rope, and, in fact, of the rest of the world.
 This country holds the whip handle,' he said the other day. For the first time in our history we are able to dictate the rate of exchange-a very different position from thatewhich we held only in the recent past" Secretary Gage believes, moreover, that this country will never be subservient again to European governments and financiers He believes that nothing Illustrates the financial independence of this government and people better than the ease with which the American people absorbed the $2O0, ,000,- 900 loan, subscribing it seven times over, thus displaying an ability to finance the government in the direst of emergencies, and that, too, without disturbing the busi- ness of the country in the least degree or preventing the inauguration of new enter pr.ses.
 In fact, business was especially active at this time, and during the continuance of the war an unusually large number of big business enterprises were started. It is not well known, but when the Spanish war cloud first showed up on the horizon in dis tinct outline, capitalists came forward with secret offers to help the United States float a war loan.
 No Assistance Was Needed
 Secretary Gage says that this demon strated to the United States that It's credit was so good that this country would never be forced to ask the assistance of foreign capitalists for the conduct of the war, no matter if it had lasted four times as long as it did. There was some chagrin felt abroad when it was learned that no assistance was needed, and the tinanciers of the Old World were Inclined to think that the ease with winch the bond issue was fioated was due to a sudden burst of patriotism, which, when spent, would leave bad effect upon the markets. But quite the contrary has happened.
 This has caused an awakening among European financiers similar to that caused by the success of the American navy and army among European statesmen and cabi- nets. The financiers as well the rulers of the Old World. have been forced to hail the United States as a new power which will have to be reckoned with in the trans action of the worlds business.
 A Pleasant Recollection
 In talking, Secretary Gage recalled with | was little over hundred years ago when this government was struggling into exist ence by the aid of small loans from Hol- land.
 Just as Europe has awakened to the inde- pendence of the states in finances. so has the east-New York and Boston-been made to realize that the west is growing inde- pendent of the eastern financiers. This was emphasized by the fact that the west has recently been lending millions of dollars in New York.
 It is the first time this sort of thing has happened for heretofore the west has been a moreover, not lender That this sec tion, with it's great needs, should have all the money it requires for its own and a surplus to lend makes the old men on Wall street stretch and rub their their eyes. President Williams of the Commer- cial National bank, who has been here re- gently said that the next thing one would hear, would be that the south was lending money in New York.