The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1908-01-31
PRESTIGE
AGAIN RISING

4Ieadi e newspapers in that center as
well as In Paris, Berlin and other
! Old World capitals, show that
American credit and American in
fuence are again advancing. This
change has just had one significant
manifestation. The publication OF
the Japanese budget, which showed
that Japan was IN hard financial
straits, had hardening effect or
that country's stocks, and at the
same time sent American securities
upward. 1t was easy to see the
reason for the advance In American
stocks and the increase in American
credit. The financial scare In the
United States in the latter part OF
1907 aroused the critics of the
American financial and industrial
system, and, for the moment, gave
them free field in the newspapers
of Europe. But they were silenced
by the United States quick recov
cry. and were surprised by some of
the manifestations which accom-
panied 1t. The fact that we OBJ
tanned one hundred million dollars
of gold from Europe, in spite of the
barriers which the big government
banks of that region raised against
US, the big increase in the merchan-
disc balance in our favor in the
past three months, the immense
gains which we are making in cap
turing markets for our manufact
ures all over the world, and the
further circumstance that money
has become so plentiful with US now
that we are ready to hand back to
Europe some of the gold which we
recently got from there, and which
belongs to us through credits we
have established over there, can
easily account for the new rise In
American prestige which has taken
place in Europe.
Oddly enough this advance In
American credit is helping to
strengthen Japan in the worlds fin
,ancial centers. Japan's adverse
budget, which showed that that
country is under financial and in.
dustriai stress, proved to Europe
that Japan would not dare to engage
in war with the Unites States, unless
under powerful provocation, which
we, Of course, would not give, Jap
ao's concessions to the United
States on the immigration question,
which have Just been made public,
/, have made a profound impression
in all of Europs's great capitals.
Here Is enc of the headings on this
adjustment, which appears in the
London Mail: "Japan Gives Way
.l-Diplomatic Success of Roosevelt
dangerous Dispute Ended" AL.
though Japan's alliance with Eng.
LAID has naturally made the British
newspapers rather reticent about
this affair, these words from an edi-
.orial in one of the L ondon papers
shows how the Japanese adjustment
is received over there: "Practical
reasons counseled a friendly settle.
ment with the United States. Japan
made great sacrifices, but has given
unmistakable proof of her pacific
Intentions, On his part President
Roosevelt has been careful to avoid
any sign of hostility to Japan in the
movement of the feet toward the
Pacific and his caution and modsra
tion have been rewarded by diple-
matte success" In a similar tenor
are the expressions of the leading
papers of the other European capi.
tails, as far as they have beed cabled
to us.
| Americas prompt industrial resu.
Iperation co.operates with the diplo-
matte triumphs Of the administra
ton at Washington in giving Amer
icsn prestige anew bound upward.
The start OF Admiral Evans feet a
few days age from Rio and its ad-
vance toward the Pacific are receiv.
ing nearly a. much space in the big
newspapers Of England, Germany
- E~.~>. - = H., - 81. III