Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1900-08-19
new YORK RIVALS
LONDON AS WORLDS
FINANCIAL CENTER
Britons Deeply Interested In
Americas Ability to Make
Loans to Europe.
INTERESTING INTERVIEW

Senator Depew Talks Interestingly
Concerning Monetary Matters-Sud-
den Development of Our Strength
Astonishes London Many
Americans In Worlds Metropolis.
LONDON, Aug. 18.-The tide of Amer
lean travel is still strong toward London.
Many residents Of the other side Of the
Atlantic having exhausted the Paris ex-
position are Incorporating in England
and the hotels frequented by the Ameri-
cans are filed this week as they have
not been since the opening of the season.
There have been enough American
promoters at the Carlton this week to
carry through any scheme for rapid
transit in London which can be devised.
Tom L. johnson of Brooklyn came from
Paris Thursday and under the same roof
were w. L. Elkins and p. A. B. Wide
ner of Philadelphia, who have since
gone to the continent, and Edwin John
son, representing the Edison company.
Those gentlemen have been studying
the Central Underground railroad. Mr..
Elkins stated that he and his associates
had really no definite plans for work in
London, in spite of the fact that they
have been in consultation with several
of the street railway owners. The out
going trains and steamers today are
crowded. Senator Chauncey 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 flnanciers
who are specially interested in the abil-
ity of the United States to make loans
to Europe. The senator said:
Senator Depew interviewed.
"The sudden development of our i'm
mense accumulation Of money, growing
out of the fact that Europe is paying
5000, 900, 900 annually for American pro-
ducts, has not only brought the bank
rate and call loans up / and 2 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
If it had been permitted) was taken in
the United States demonstrates the con-
ditions which have already made New
York one Of the financial centers Of the
world. If the conditions continue, and
I have no doubt they will, New York
will soon be dangerous rival Of Lon
don in financing the government enter
terprises of the world.
''The rapid information we are &C
curing regarding the industrial condi-
tons of the world, the necessity of find
ing market for our increasing surplus
products, also our active participation
III the solution of the Chinese problem
tend to make New York an actual COM
petitor in the scheme for the develop
ment of the far east. 1t is a near posi-
bility that the New York Stock Ex-
change will actively deal in many for
eign stocks and bonds. The United
States, with 5000 miles Of ocean from
European governmental complications,
will never take q militant part in the
rivalry, the jealousies and wars of Eu-
rope. These wars make the United
States every year stronger as financial
factor and will, believe, make New
York the financial center of the world.
Up to two years ago the European cabi-
nets took no interest in American diplo-
macy and finance. America was re-
garded as a granary in time of poor
harvest on this side and as dumping
ground for surplus population. Now,
no cabinet in Europe makes a move
without considering what is the position
of the United States in the matter"