Evening star., 1900-08-18
Americans Travelling Abroad Make
British Capital Their Mecca.
COACHING 4 FAVORIFE SPORT
Senator Depew Talks Of New
Financial Conditions.
FOREIGN NEWS AND GOSSIP

LONDON, August 1S.-The tide Of Amer
lean travel is still strong toward London
Many residents Of the other side OF the At
lantic, having exhausted the Paris exposi-
ton, are recuperating in England; and the
hotels freQuented by Americans are flied
this week as they have not been since the
opening of the season. Coaching Is the de-
light of most of the Americans. Since Mr.
Albert L. johnson of Brooklyn. N. Y.
drove his six-horse coach through London
there have been many candidates for sim
liar honors. Among the energetic younger
coachmen is Mr.. Charles De Young, son
of MIR. Michael De Young. proprietor of the
San Francisco Chronicle. Incidentally, San
Francisco is abundantly represented in
London. Aside from Mr.. De Youngs par
ty, at West End table the other evening
were Mayor Phelan. Mr.. Walter Martin and
Mr.. Peter Donohue of the papal house
hold. Mr.. E. H. Butler, proprietor of the
Buffalo News. another enthusiastic driver,
has bought a coach as a birthday present
for his son.
Electric Railroad Promoters.
There have been enough American cleo
trio railroad promoters at the Carlton this
week to carry through any scheme for
rapid transit in London which be de-
vised. Mr.. T. L. Johnson of Brooklyn came
from Paris Thursday, and under the same
roof were Mr.. w. L. Elkins and P. A. 3.
Widener of Philadelphia, who have since
gone to the continent, and Mr.. Edwin John
son, representing the Edison company.
These gentlemen have been studying the
Central underground railroad. Mr.. Elkins
informed a representative of the Assocf-
ated Press that he and his associates really
had no definite plans for work in London,
in spite Of the fact that they have been in
consultation with several of the city rail-
road owners.
The outgoing transatlantic steamers to-
day are crowded. Senator Chauncey NJ.
Depew sails on the American Line 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 Europe.
Depew on National Finances.
The senator said: "The sudden develop
ment of our industries and the immense
accumulation Of money growing out of the
fact that Europe is paying 60O,000,000 an
nually for American products has not only
brought the bank rate and call loans up 1
and per cent. respectively. but the west
ern banks are now buying paper in the
east because there Is no demand for money.
The fact that half the British war loan
all II 1t had been permitted-was taken in
the United States demonstrates these con-
ulllOIlS WHICH ldVo dlTtduy Uldu6 Ne" OIk
one OF the financial centers Of the world.
If the conditions continue, and I have no
doubt they WILL New York will soon be q
dangerous rival Of London in financing the
government enterprises Of the world. The
rapid Information we are acquiring regard
ing the industrial conditions of the world,
the necessity of finding a market for our
increasing surplus products, and also our
active participation In the solution Of the
Chinese problem tend to make New York
an active competitor in the schemes for the
development Of the far east. 1t is near
possibility that the New York stock ex-
change will actively deal in many foreign
stocks and bonds.
1.-The United States, with 5000 miles Of
ocean from European governmental COM
plications, will never take a militant part
in the rivalries. jealousies and wars of
Europe. These very miseries, the wars,
make the United States every year stronger
as financial factor, and WILL l believe,
make New York the financial center of the
world Up to two years ago the European
cabinets took no interest in American
diplomacy and finance America was re-
garded as a granary In times of poor har-
vest on this side and as a dumping ground
for surplus population. Now, no cabinet in
Europe makes move without considering
what Is the position Of the United States
in the matter"