, 1900-09-25

Mexico has frequently borrowed large
sums of money in the United States
Less than a yea ago the Russian gov
eminent raised $4,000, 900 here, and
came the big British loan, and
now occurs the sale of $40, 900 900 of
governments bonds here. Swe-
den, it is understood, is negotiating to
borrow $4,000, 900 in New York, and
Japan is arranging to get 100000 900.
Several Canadian loans have been
tloated in this country in the past Two
OF three years, but they attracted no
especial attention at the time. But
the fact that the big governments OF
Europe are coming here for money in
large sums is one which arouses the
Interest of the entire world.
A member of the big British house
of Barring Bros, who has just arrived
in this country, says hat London is
now merely a suberb of New York
Under this good.natured extravaganza,
of course, there is a shade of truth.
The borrowers of the world, govern
ments as well as private persons, are
coming to New York in larger and
larger numbers in the past veal or
two and avoiding London. The British
government itself has had to make the
journey in the past few weeks. Until
three or four years ago the United
States vas a frequent narrower in Eu-
rope. This government has more
than once had to look for money from
the investors or great financial insti-
buttons in England and other Europe
an countries. A change has recently
occurred, in which we are the lenders
and the other governments are the
borrowers, and naturally this circum.
stance attracts attention throughout
the world. The fact, too hat though
these loans in New York in the past
few months have followed each other
lpi'lNs 'ioSSiy IL Z III ti' hioliNy
market here has scarcely been percep-
tible, has Il significance which Europe
has grasped even more quickly than
has the United States.
Some Of the Berlin newspapers pro-
test against the floating of their gov
ernment's loans outside of their own
lpnprtrNr Thnu CIV II i- n Naturalization
to Germany to be obliged to come over
to this side of the Atlantic in order
to raise money which could have been
obtained at home. A few of the Lon
don journals said the same thing a few
weeks ago regarding their own gov
|ernment's course. The astute men who
are at the head of the governments in
London and Berlin, however, know
what they are doing. One of the rea,
sons assigned for the British authori.
ties course in coming here for money
was that this LOAF would help to ce,
ment the friendship between the two
countries. Perhaps this consideration
has udu SoHlethlHS W uO WIFI lHe dC-
ton of the Berlin authorities. Anoth-
er circumstance which undoubtedly
had influence with both was that the
raising of this money at home would
have sent the home rates up to an ex,
tent which might have beer a serious
disturbance to general business, and
have injured their own country in a far
lgreater degree han the interest which
the home borrowers would get could
possibly benefit it. 1t is well known
Throughout the world that the United
States is the II great nation which,
in these days, has a big surplus of
ready cash beyond it's own needs, large
as those are, and that though the needs
here keep on growing, the surplus is
increasing at a still faster rate. The
rapid approach OF the day when New
York, and not London or any other
point in Europe, will be the acknowl-
edged financial center of the nations is
one of the most impressive facts in the
social history of the world in this age.
1-Globe Democrat.