Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-06-03
SOAKING
Up AMERICANS
MILLIONS
FOREIGNERS CARRY OUT
OVER BILLION A YEAR
Freak Suggestion For Next
Gotham Court House; Re-
markabIe Luncheon Breaks
Old Age Records,

Ispecfai Correspondence 20 sternInx Journal
New York, May 3I.-That Europe
Is. nav absorbing the wealth of this
country at q rate appIoximating 4
billion dollars annually is the aston
lshing fact just brought to light here
by figures collected for private pur-
poses. For many years there has
been Outspoken criticism of the man.
ner in which foreign countries were
acquiring great American fortunes by
the simple means of exchanging titles
for them in the matrimonial market.
Now, however, the situation has be-
come much more serious for instead
OF marrying American millions, Tor-
eigners are taking money out of this
country through commercial invest
ments. at q rate twenty fold greater
than that afforded by means Of in
ternational alliances, which, while
they caused much more comment,
were really far less serious than the
present situation. Indeed the extent
to which American money Is going
abroad at present is being discussed
as q factor which may prove danger
Gus to the continuance of this copn-
try's favorable trade balance. SO
strong is the eastward flow Of Ameri-
can dollars and so many the outgoing
channels Of this wealth that steps are
now being considered by which it may
be checked. The greatest single
amount in the expense account which
Ike out of the country annually a
greater sum of money han that re-
CURED for the expenses OF the federal
government m in the shape OF
dividends on American securities
which Drn hold "a broad THE ftn,,a
clone amounts to over $3.50, 900, 900
much of which goes to France, since
thai country has in the last few years
absorbed hundreds of millions in
stock and bond issues. More than
is spent each year in
European shops. according to the fig
ures just compiled, while upwards of
$3.50, 600, 600 goes each twelve months
from American pockets to those of
foreign hotel Keepers, amusement
owners and in other similar ways.
More than 10000. 600. it is esti-
mated, goes for tins alone. In view
of the act that there Is no apparent
reason why the greater part of this
money should not be spent in this
country, 1t Is apparent that Uncle Sam
VIII soon have to find a means of
stopping this financial Grain as COM
pared to which that laid at the door
OF Cupid sinks into insignificance.
The row which has been going on
merrtly for some months over the
OF the city's new $4,000. 600
court house soon TO be erected is now
further complicated by controversies |
over the design Of the building. SO
the whole matter has become |
me Of the worst tansles which the
eity has ever had to u%nravel. AS soon
rs il became known hat a new court
louse was to be built, suggestions for
It's location began to pour in. Sites
we're suggested all the way from the
Harlem river to the Battery, and so
rave the partisans of the
sites become that there are
in the city several very active
whose sole purpose is to To-
ate the building according to their
But in spite of the fact that
10 site has yet been chosen. the adVo-
ates of almost innumerable designs
already begun to cause further
complications. There are supporters
o h proposal to construct the build
ng underground. But as under
round methods hardly seem to be
ompatible with the dispcnsations Of
%istice, il seems fairly certain that
design at least viii not be
dopted. At the other extreme is the
- lf'tHA ~ - Hhli'AAAA6 lWTt lttI III 1
which would undoubtedly be
nique in modern construction. The
roposal of the designer contemplates
erection of four gigantic columns.
Nch at one corner Of a square.
'hese columns would be one hundred
in diameter and 900 feet in
eight. Within them would be the
ccessary offices, while supeT-im-
osed above all -four would be a
of liberty 1874 feet in height.
a one hand of this mighty statue
'ould of course be the scales of JUS
while the other would hold n
torch which would smoke by
ay and at night flash a light which
'ould be visible for more than two
undred miles. OF course as no de-
has Yet been adopted it is impos-
bic to say what the new building
i'll look like. but from present indi-
it is sure to be unique pro-
-ded the controversy is ever ended.
What is probably the most remark