New-York tribune., 1901-06-23
AMERICAN A METHODS BEST.
PROFESSOR JOHNSON AND FRANK A.
VANDERBILT TALK OF COMMERCIAL
SLOWNESS ABROAD.

After trip through Europe extending over
period of more than three months. made for the
purpose of studying the methods of finance and
commerce in use in Continental countries and
England F. A. Vanderlip. formerly Assistant
Secretary of the Treasury and Professor Joseph
French Johnson. who Will resign the chair of
finance and Journalism in the University of
Pennsylvania, to accept that of commerce in the
University of New-York. arrived here yesterday
the ST. Louis They travelled together.
1t rumored that Mr. Vanderlip would Inn
mediately connect himself with the National
City Bank in official capacity. On the pier
yesterday Mr.. Vanderlip said:
II will not say just what are my immediate
plans. I will say however, concerning certain
rumors that have been circulated, that am
not to become president of the Lincoln National
Bank. / have not entered into any relations
with J. p Morgan Indeed. I do not know Mr..
Morgan to speak to him, although have seen
him several times. 1 have no intention of seek
ing or accepting any official position under the
government I will take the midnight train
for Washington. to see Secretary Gage. but or
a purely social visit
Concerning my trip abroad, I visited Italy.
Austria Hungary. Russia, Sweden. Denmark.
Germany. France, Switzerland and England, and
saw the Minister Of Finance of each country. My
discussions with them of the various methods of
finance in use in their respective countries con-
firms my opinion that we are far ahead of them
in every way.
England certainly will do her utmost TO re-
gain the commercial supremacy which she lost
to US but she can never do it, We now have
large portion of her trade with South Africa,
India and Australia. and she can never regain it,
Her methods must be changed before she
stop retrogradfng and that will require so long
that she will be hOpelesSly behind
Professor Johnson entered more exhaustively
into details with regard to the countries he Wis
tied
From my observations" he said. II am con-
vinced that New-York will soon fix the prices
for bonds and the rates of interest on loans fer
every country in the world. The methods of the
European countries all archaic and slow. and
lack almost utterly the machinery of credit with
out which it is impossible TO do business expedi-
tiously.
England Is nearest to us In this regard but
she is too slow I would say that there
must be entire reconstruction of English COM
mercial and financial methods before that coun-
try can be really dangerous competitor In the
markets of the world. The people of England
realize this. and accept the situation. Accept 1t
too complaCently. | believe. They say. the best
Of them. that it Is not the struggle OF country
against a country. but OF big continent against
little island Even now they appear not to
understand that quickness in small things facfli-
tates business. and continue In the slow methods
Of their fathers. Why If it took so long for a
depositor TO get money out o. a bank in this
S9Nntry as il takes in ERelapds- our cofHrner~isI
ana financial leaders wouI keep 1t In their
stockings instead OF in the banks
1T has been said that England fears Ger
many as commercial rival II she did that
fear is lost in the greater struggle that she is
entering with the United States But the Ger
mans are formidable. Berlin is the most push
ing city in Europe. All commercial roads lead
10 Berlin, and the Germans, appreciatfng what
the United States Is doing are endeavoring to
improve their methods by copying ours Ham
burg is the NewYOrk of Europe. The people
of this great shipping port alive and active
ana are cooperating with their brethren in
Berlin for a betterment of their condition They
are making capital progress
France and Belgium do not care to take in
structton from us. and apparently do not care
how commercial affairs go They are. cOnse-
quently, deterioratng. About per cent of the
commercial interests OF Russia are alive TO the
situation. but they have a heavy load To carry
with the other % per cent hanging around their
necks like a millstOne.
MILAN is the Chicago of Italy I was sur
prised TO the hustle of the city, and the
efforts It's merchants making meet the
situation New methods are absorbed with
sonable swiftness. and improvements are adopt
ed as quickly as they can be- Italy is young
country despite her historic age. and is emerg
ing strong and fresh from her former barbarism.
She would organize a coalition OF the European
powers TO fight commercially, but such
thing is impossible
ITO sum II all up. every country in the Old
World has much to learn of financial and COM
mercial methods. and teach them. One
or our banking houses here can transact more
business in day than any over there can
in two. and until they can catch up with us in
rate of speed at least need have fear of
any or all of them rivals / will not enter
into the question OF tariffs that many be imposed
on our goods and further than TO say that Euro
pean countries cannot. with safety to them
selves. bar our products from their ports"
TROUBLE FOR ANOTHER GUAM GOTERNOR