The Providence news. (Providence [R.I.]) 1891-1906, 1900-08-18
Dspsw Says New York viii Become
Worlds Financial Center.
WE WILL TAKE NO MILITANT PART.
kmsdca win Not Be Concerned In Rlva|rlss,
lsaleuslss or Wars Of European Nations
Interest In American Diplomacy.
Copyright. 1900, The Ass'd Press)


London. Aug. ls.-The tide OF American
travel Is still strong towards London.
Many residents OF the other side OF the
Atlantic. having exhausted - Paris ex-
position, are recuperating In England;
and the hotels frequented by Americans
Rre filled this week as they have not
been since the opening Of the season.
Coaching Is the delight of most of the
Americans. Since Mr.. Albert L. Johnson.
of Brooklyn. N. Y. drove his six horse
roach through London there have been
many candidates for similar bitches.
Among the energetic young coachmen is
Chas. DeYoung. a son OF M. DeYoung.
proprietor OF the San Francisco Chroni-
Gle.
Incidentally. San Francisco is abund-
antly represented in London. Aside from
Mr.. DeYoungs party, at the West End
table the other evening, were Mayor
Phelan, Walter Martin and Peter Dono-
hue. OF the Papal household, Mr.. E. II.
Butler, proprietor OF the Buffalo News.
another enthusiastic driver. who has
bought a coach as birthday present for
his son.
MANY PROMOTERS ON HAND.
There have been enough American elec-
trio railroad promoters at the Carlton
this week to carry through any scheme
for rapid transit In London which can
be devised.
Mr. L. l.. Johnson of Brooklyn came
from Paris Thursday and under the same
roof were Mr.. w. l.. Elkins and p. A. B.
Widener OF Philadelphia, twho have since
gone to the continent); and Mr.. Edwin
Johnson. representing the Edison Com
pany.
These gentlemen have been studying
the Central Underground Railroad. Mr..
Elkins informed a representative or the
Associated Press that he and his asso-
ciates really had no definite plans for
work I'm London, in spite OF the fact that
they have been in consultation with sew
eral Of the city railroad owners.
SENATOR DEPEw TALKS.
The outgoing steamers today are crowd
ed. Senator Depew sails on the steamer
New York. He spent the last days of his
stay here in examining the new electric
underground railroad. He has also been
in consultation with British financiers
who are specially interested In the ability
OF the United States to make loans to Eu-
rope.
The senator said:' "The sudden devel-
opment of our industries and the i'm
mense accumulation of money growing
out OF the fact that Europe Is paying
$500 900 annually for American prod
ucts has not only brought the bank rate
and call loans UP one and two per cent,
respectively, but the western banks are
now buying paper in the east. because
there is no demand for money.
THE fact that half the British war
loan (all IL Il had been permitted) was
taken i'm the United States demonstrates
these conditions which have already made
New York will soon be a dangerous rival
ters of the world. If the conditions con-
tinue, and I have no doubt they will,
New oYrk will soon be a dangerous rival
of London in fncinacing the government
enterprises OF the world.
THE rapid Information we are acduir-
ing regarding the Industrial conditions OF
the world, the necessity of finding mar
ket for our increasing surplus products,
and also our active participation in r\e
solution of the Chinese problem, tend to
make New York the financial center OF
the schemes for the development OF the
far east 1t Is a near possibility that the
New York Stock Exchange will actively
deal in many OF the foreign stocks and
bonds. ~~~
'The United States, with three thou
sand miles OF ocean from European gov
ernmental complications, will never take
a militant part I'm the rfvalries, jealousies
and wars of Europe. These wars make
the united States every year stronger
as financial factor. and will. believe.
make New oYrk the financial center of
the world.
up to two years ago the European cab
inets took no interest In American diplo-
macy and finance. America was regarded
as granary in times of poor harvest on
this side and dumping ground for sur
plus population. Now. no cabinet in Eu-
rope makes move without considering
what is the position OF the United States
in the matter"