New-York tribune., 1907-10-27
CONFIDENCE IN FRANCE
No Serious Appehemsioms-Vary-
ing Opinions Of Mr. Roosevelt.
Especial by French Cable to The TribuneI

| copyright 1907. by The Tribune AssoCiationl
| Paris, Oct 26.-The Wall Street crisis causes
| no serious apprehension here among the lead
| ing bankers. The representatives of the Bank
| of France, the Rothschilds. the Credit Lyonnais
| the Socete Generate, the Compton National
D'Escompt and NM. Hottnguer & Perier, Of
| the Franco-American Bank, in conversations
| with your correspondent are unanimous in ex-
pressing their implicit confidence In the in
trinsic soundness of American securities, al
though they denounce the reckless gambling,
especially the laws that permit of selling of
stock short in critical moments like the pres
ent and the evil effects Of the practice of stop
orders. The feeling in Paris is that the Wall
Street storm will serve an object lesson to
clear the atmosphere, and that one Of its re-
suits may be a reorganization of the New York
Stock Exchange. Nearly all the American Sc
curities owned in France are in the hands of
the large banking houses or Of men of great
wealth, and for this reason there is no indica-
tion of anything approaching a panic. which
probably would have happened had American
stocks been owned by individuals Of small
means. In fact, the French holders Of Amer
lean bonds and gilt edged securities now
inclined TO buy rather than to sell, and 1t is
believed that the French gold equivalent in
value to $1OOOOOOO will be shipped to New
York in tho course of few days
Meanwhile there is insurmountable
setback to the efforts that have been made for
the past three years to induce the French pub
lie to put their savings in American securities.
because the thrifty French peasant and small
investors are conservative to the last degree,
and it will take years to efface the impressions
caused by reading in the local newspapers the
exaggerated descriptions of Wall Street meth
DDS. Another feature Of the situation here Is
caused by large numbers of so-called agents,
no striving France
sales of certain speculative classes of Ameri-
can stocks. These small dealers now in
barrassed circumstances and wildly denounce
President Roosevelt as the author of their pres
ent difficulties.
This tone is expressed In several of the French
newspapers notably the "Matin.' which to-
day publishes a leading article headed The
Roosevelt Panic the Work Of a DemagOgue,"
and after attributing the untold evil to the
President, concludes with the words president
Roosevelt will now be compelled TO come TO an
agreement with the trusts. because If he does
not do so the ruin of the American people will
be accomplished and millions Of workingmen
will be without work and without money"
The journal des Debats" on the other hand.
expresses the opinion that president Roosevelt
has been most unjustly accused by certain
financial coteries and cliques Of preclpitating
the Wall Street crisis II is abominabe 10 try
to make Mr.. Roosevelt a scapegoat He may
have uttered sentiments AT moments that from
the Wall Street standpoint. may have been In
opportune. but he cannot he held responsible
for what has now been brought light. and
the present crisis may prove to be blessing
In disguise for the American public"
The journal des Debats." which represents
large conservative French interests voices the
trend Of feeling in France in regard 10 the
financial situation in tho United States
c. 7 y.