The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-08-18
United States Senator Chauncey
Depew Sails For Home.
He Has Discovered Some Things
About Finance.
NEW YORK THE CENTER
Says American Metropolis Will
Soon Rival London.
European Cabinets Now Reckon
With United States.

copyright, 1900, by Associated Press.1
London, Aug. 1S.-The tide of Ameri-
can travel is still strong towards Lon
don. Many residents of the other side
OF the Atlantic, having exhausted the
Paris exposition, are recuperating in
England and the hotels freQuented by
Americans are filed this week as they
have not been since the opening of the
season.
Coaching is the delight Of most of the
Americans. Since Albert l.. Johnson
of Brooklyn, n. Y, drove his six horse
coach through London there have been
candidates for similar honors. Among
the energetic young cOachmen is Chas.
DeYoung, son of Michael DeYoung,
proprietor of the San Francisco Chron-
abundantly represented in London.
Aside from Mr.. DeYoung's party at
West End table were Mayor
Phelan, Walter Martin and Peter Don
ahue of the papal household. E. H.
Butler, proprietor of the Buffalo News,
another enthusiastic driver, has bought
a coach as birthday present for his
son.
There have been enough American
electric railroad promoters at the Carl
ton this week to carry through any
scheme for rapid transit in London,
which can be devised. T. L. johnson OF
Brooklyn came from Paris Thursday
and under the same roof were W. /.
Ell1ins and P. A. B. Widner of Phil
aQSlpHldy WHO nave Since gone TO LUd
continent, and Edward Johnson, rep
resenting the Edison company. Those
gentlemen have been studying the CEN
trail underground railroad Mr.. Elkins
informed a representative of the As
Sociated Press that he and his aSsoci-
ateS 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 railroad owners
The outgoing Transatlantic steamers
today are crowded. Senator Chauncey
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 Brit
ish finauciers, who are specially in
Ierested in the ability of he United
States to make loans to Europe. The
senator said:
1.-The sudden development of our in
dustries and the immense accumulation
of money growing out of the fact that
Europe is paying $500, 100000 annually
for American products 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 GALL if it had been
permitted) was taken in the United
States demonstrate these conditions
which has already made New York one
of the financial centerS of the world. If
these conditions continue and / have
no doubt they will, New York viii soon
be q dangerous rival OF LOUuOh III
financing the government enterprises OF
the world.
1.-The rapid information we are ac-
quiring regarding the industrial condi-
tions of the world, the necessity Of find
ing a market for our increasing surplus
products and also our active participa-
ton in the solution of the Chinese prob
lem tend to make New York an active
competitor in the schemes for the de-
velopment of the far east. 1t is near
possibility 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 a militant part in the
rivalaries, jealousies and wars Of Eu-
rope. These very miseries, the wars,
make the United States every year
stranger as a financial factor and
will, 1 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
regarded as a granary in times of poor
harvest on this side and as a dumping
ground for surplus population. Now, 10
cabinet in Europe makes a move with
out considering what is the position OF
the United States in the matter"