BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1902-10-14

British South Africa $500, 100000 of
French money has been invested and
in Egypt $2S7 900 ooo. 1t IS further
noted that most of this money has been
n11t into government securities except
ia South Africa, where the mines and
other industrial enterprises have proved
attractive.
The most obvious deduction from
these statistics is that the. half-under-
stood alliance between Russia and Fran
ce has more substantial footing than
has been hitherto believed. The de-
monstrations of affection between these
nations in recent years habe been ge-
nerally attributed TO mere sentiment
among the French people and to strong
motives of self-interest on the part OF
the Russian government. France, it
was supposed, had little Or nothing to
gain, while Russia might fin marked
advantage in such union in support
of her aggressive policy. The disclosure
that the French people have SO large
stake in the destinles of Russia, equal
to S35 per capita, proves that the bond
Of sympathy, whether woven by senti-
ment or political ambition, has become
the most solid and substantial of all
bonds between nations.
Of less immediate importance in the
politics OF Europe, but of similar sig
nifcance, is the prop p,rtion of the French
investment in Spanish securities, (Which
explains very clearly why French sym
pathy was no SO strongly On the side O.
Spain in the Cuban war and may
without reflection on the humane ms
tincts of NJ. Jules Cambon, throw new
light on the highly creditable readiness
of the French mi1ister at Washington
to put his good offices at the disposa
: of Spain in com posing her differences
: with the United States.
= Why Austria-Hungary has at
i, tracted so much French capital AS /
has is less easily seen than are the pos
sible political con equences. The con
= hict Of races, almost certain to involve
! Germany, which many close observer
= of European affairs believe may b
. precipitated by the death Of the oil
q emperor, Francis Joseph, could hardl
G fail to have very profound effect upo1
- the French security holders, who, judg
v ing from the aggregate OF their invest
i nents, must be numerous enough yer
" strongly to influence their government
- The London Spectator, comment
r. ing on these figures, draws the infer
ence that France "will never be passiv
when the vital interests of Spain al
, concerned" that her millions of none
- % will bind her to Russia more securel
"a than any formal clause in treaty {
~ alliance, and that her investors wh
- have $2S7 900 900 in Egypt will nevt
{ 9 seriously wisil to destroy the securit
II II afforded By the British occupation
Il Il We are inclined to push the inferent
- further and say that the French min
ss i.ter's figures furnish fresh evidence {
! the community of interest which car
-, ital has established among nation
- putting clashing political interests III
- der increasingly heavy bonds to kee
= the peace. 1t is noteworthy, as illus
= trative of this, that in the diverse con,
r. ment on the OBJECT Of Secretary Hay
- - protest against Roumanias persecutio
~ ~ of the Jews there is almost unanimor
= expression Of the belief that financi
re pressure rather than any threat {
;, armed intervention is likely to brin
~ that country. whose bonds are near
= all held abroad, 10 a sense of justice.