The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-29

LONDON, Jan S.-1uG aLl-LAuE u t-A@
British investors toward American
business underwent a notable change
during the past week The nina 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 con-
sidered the most important fact Of the
year-the tremendous commercial ad-
vancemeut Of the United States.
Ever since the Venezuelan affair the
only idea Of British holders Of AmerI-
can securities has been TO sell when
ever they could do so with any Drcflt,
or without too great loss. In the pc
ginning Of the present upward rush OF
American stocks both SPECTATORS ana
conservative holders of transatlantic
securities were eager to take auN ahlase
of the opportunity 20 unload, the former
selling for profit, in view Of the crash
in the market which was deemed lneV-
liable; the latter 10 get rid Of what they
regarded as unsafe property Wnlch they
had been long holding.
Both British and American fnancisrs
who have talked with q representative
of the Associated Press on the subject
agree that the pendulum has now pe-
gan to swing in the other direction IN
vestors, seeing that the anticipated dis
asters do not materiallze, and that the
United States is apparently in for d
period OF great prosperity, are coming
10 the conclusion that they were over
hasty in unloading their American Sc
curities. They are retracing their steps,
and are giving, orders to their brokers
10 rebuy the stocks they discarded with
q feeling OF JOY at getting ria OF dead
WOOD, though the newspapers are stlu
crOaEing dismally over the panic when
Wall street is destined to witness IN
the near future, according to al their
prophecies.
BUSINESS men who have been inter-
viewed 10y a representative of the As
sOciated Press agree that, so far Is al
the lines of legitimate industry are con-
Cerned the United States has very
reason TO be optimistic. mr.. Alfred
Charles dc RothschiId, OF n. ~ lt0,ns-
child a sons, spoke enUhusi2s Cica-tv II
the american outlook. lie said ''iA-fe
seems to be q period Of u-o~-=
prosperity before America. 81 IS
American investments are Coz --d,
the public must. as in any ot1u ~ q,
discriminate between what IS '--lI
what is bGc. EUt your crops. la
features and commerce al Seem 10
combine TO place the coUEsiy o1 @. I,--
usua.iy sound basis, whic1 canDct 1al
TO awaken admiration lh-oHghuU- jI7
W0IiG."
One c. TIC llC-t prominent .e-s
remarked. TIE fni-CG St---s s. -..la-r
too enJerDrisIlg cor tho peace e. lr---d
Of EuroQe. u ~ -c--e- l,--u g. i l-.e
that the statistics OF american cl ..ts
can be -TUc. is eC:-.l-s-. seems 10
represent the views a. others.
\ PESSIZISEIC VIEW.
The Staust is not sure The d-a-o. o-
American business represent l.-e- --zel .
prosperity. From the decrease .u Ia
ports il argues that the high t---. IS
compelling the poorer classes (. -.Ey .
themselves many comforts. a-. t,--
the farmers, during the years ol 81 i.c-- +
sion, contracted debts which I1- ere F.
determined to pay before they Low I
themselves their customary ccml -Js.
The Spectator sernonlZes on The eI- /
feet of the speculative boom Oh The /
natural character, and says: Ten per /
cent of the whole population are having /
= good big gamble, and, being Arneri- /
cans, who don't care much when they /
are ruined, they are enjoying them /
selves mighty"
This paper believes that the principal /
effect of such booms is to increase ma
1ionaI sanguineness, adding: no ty- /
pical American ever fears any result /
OF his own actions; but there are few
typical Americans without some look /
OF care"
England has been enjoying a little /
boom Of her own III South Africa min |
ing enterprises, 10 which an impetus {
has been given by the presence here of /
Cecil Rhodes, the South African mag
nate, but which attracted small atteu-
lion in the newspapers in comparison
with the more sensational business
across the Atlantic.
AEr. Rhodes agent, DR.. Rutherford
Harris, says the cabinet has promised [
an imperial guarantee for the Cape-tO-
Cairo railway from Buluwayo to the
ZaIubesi river, a distance of $50 miles,
and that when that section is COM
pleted the government Will probably
guarantee the road TO Lake Tangan-
yika-
There is an interesting story of AIR.
Rhodes services in connection with the
SOudan campaign, which, incidentally.
played an important part in influencing
the cabinet in his favor. The govern
ment, it appears, could not buy the en-
gineS and plant necessary to operate
General Kitchener's strategic railroad.
which was an unusual grade and when
Mr. Rhodes heard of this he sacrificed
the equipment bought for the British
Chartered South Africa company aad
so enabled the campaign to be finished
nearly a year sooner than would have
been possible if he had not come TO the
rescue.
CONGO MUTINY.
a representative of the Associated
Press had an interview with the Rev.
Or. Werner Of the American Presbyte-
rian Congo mission. who has just ar
rived in England on his way to Amer
lea, after four years residence at Lue-
DO. in the Kassal district He said:
THE present mutiny is practically
the last desperate attempt TO throw off
the white mans control. It is also the
-nriDFrE nFaTIr account ~
The fnaccessibility of the region. When
It is remembered that Baron Dhanis
uhe Belgian commander) is 300 miles
from his base Of supplies, with only a
handful Of whites, it is no small won
der that SO many Europeans have al
ready been sacrificed, and it VIII ocea-
sion no surprise if further disasters
await the BeIgians. Nothing but build
ing a railway is likely TO eRectually
suppress the rebellion.
According to my latest information.
Baron Dhanis is practically surrounded
b. mutinOus natives, and il is reported
that panic reigns throughout the Congo
territory. However this may be IN
true"
Mr. Werner admitted that there had
been some isolated eases Of bad con-,
duct on the part Of the subordinate
white officers. But. he explained, the
administration as whole. is well IN
tentioaed and improving.
Most Of the reports OF maladminis-
sation and barbarit.r," he added, are