New-York tribune., 1900-09-17
"ENrANGLING, FINANCES.

A German loan has been placed in the New
York money market That is one of the most
interesting bits of financial news of the last
week The German Government is in need of
ready money. 1t has looked over the banking
centres of the world and has chosen New-York
as the one in which $20OO0.000 is most advanta-
geously to be borrowed. This decision is. no
doubt welcome to New-York fnanciers, for the
loan is to be placed at par and at per cent
interest and such terms are not to be got at
every hour Of the day on such securities. 1t is
welcome too to Americans generally, who feel
certain qualification in seeing the United
States thus made the creditor of one nation
after another For Germany is merely follow
ing the example which was set by Mexico and
seconded by Great Britain and by more than
one other foreign Government. In fact, as has
well been remarked, it will probably soon be the
usual thing for all nations to turn to the United
States for loans whenever they want them. OF
course, this is all very distressing to Colonel
Bryan and his followers, whose chief stock in
trade has been the cOcksure prediction that
under a gold standard this country Will inevi-
tably become a hopeless debtor TO the money
sharks of Lombard Street But then, the fnan-
cial feelings and beliefs of Colonel Bryan and
his followers. according to their own vehement
protestations, do not count for much at the
present time.
We may regard this new departure in finance
then, as good thing--innocent, benetcent, nat
ural Yet it will not escape observant attention
that 1t is inevitably effectiDg, we will not say
entangline alliances but at least a sort Cf inter
rational relationship which to some may seem
closely akin to entangieuledt 1t has for many
years been a truism that financial considera-
tons rule Europe's international politics. The
p 7 nd riS
Frankfort ard Perlin are interested in the main
teEance of peace, aud on more than one occa-
sion have been able tn exert their influence
upop the various governments so as to avert
war which otherwise would have been inevi
table Into that interested circle of money
lenders United States capitalists now enter A
new link is thus created between this and other
Powers. A new factor arises in the already
complicated problem Of Americas foreign rela-
tlons AndAthat link will grow stronger and
that factor will grow more potent with every
new loan that is doated upon the auriferous
waters Of Wall Street
This, we have said may seem like an en-
tangIement. 1t IS in fact, stronger bond than
many formal alliance has proved to be. Yet
1t is one that could not be avoided and that
should not be avoided if it could be. It is, after
all only logical extension OF the relationships
created by our foreign commerce. Sucn Things
are inevitable unless we would be such a hermit
nation as Japan was before our guns knocked
for entrance at her doors The greater n nation
becomes and the higher It rises in the scale of
civilization the more intimate necessarily be-
come its relations and it's intercourse with the
other nations of the world. The process may
now and then seem burdensome and even
fraught with danger. But that is only one Of
the sure penalties of progress. There is more
danger in riding in an express train than in an
OK wagon, but the rational man does not let
that danger deter him from patronizing the i'm
proved means Of travel. The secret of highest
success is in getting the good out Of modern
improvements and in avoiding at the same time
their evils. That is the legitimate task before
this Nation, to reap the benefits Of it's closer
social and commercial and financial relation
ships with other nations, and at the same time
to guard scrupulousy against any abuse OF
such relationships which might be fraught with
menace and with peril.