The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-02-22
AMERICAN F1NANcIERs ABROAD.

Two American financiors have made
themselves noteworthy in the world
within brief space past, and their
work is worthy Of recognition by their
countrymcn.
First, and most conspicuous, comes
the case of Mr.. Morgan Shustcr, who
undertook the rehabilitation of the Per
sian finances. He did his work well and
was in a fair way TO put Persia on All
independent financial basis, when Rus.
sia came down upon him, and crushed
Persia. His success in his work was
phcnomenal; but that very success was
the ruin Of Persia, because 1T was not
the pleasure Of Great Britain and Rus
sia to have Persia become independent
Their combined interests lie in keep
ing Persia dependent. PROSTATE, And
yet the London Times, the great British
newspaper. acknowledges the eminent
financial services of Mr.. Shustcr to
Persia, and thinks that he might have
retained his position il he had had
more tact 1t claims that before at
tempting to put the Persian finances on
a sound, scientific, and honest basis,
he should have consulted with Russia
and Great Britain, and found out what
| they wished him TO do. This would
| have been "tact,D indcedl The Times
seems to overlook the fact that it
| would also have been clear betrayal
| of Persia, his employer. Shuster, as
suminc that Persia was an Independent
state, as both Russia and Great Britain
had guaranteed that it should he, uu-
! dcrtook to remodel its finances and
cure defects in a straightforward, bust
ness way. He was not employed by
| Persia As diplomat or as a manipu-
lutor of foreign relations. He was en-
ploycd simply as the comptroller of
Persia s internal finances, TO collect the
revenues honestly, and apply them
faithfully in the discharge of honest
obligations. IF he had undertaken the
role of go-between and submitted HIM
self to the orders or dictation of Great
Britain and Russia, he would at once
have found his position impossible, and
have become "A traitor TO his employer.
the London Times should make such
a suggestion as this; it is even worse
than the attack made by Russia upon
Shustcr in intlmating that his accounts
were not honestly closed, an attack
which the whole world Will scoG,
Another American fnancier Is dill
gently at work in Santo Domingo col
Letting and disbursinG the revenues of
that pseudo republic. in spite Of all
the revolutions. assasslnations of presi'
dents, and general turmoil. lie is pay
ing the honest expenses of the Govern
ment, collecting its revenues in busi.
neSslike manner. and with steadily
increasing balance sheet 10 the good
The fiscal rehabilitation OF Santo Do
mingo, is already assured, and the for
eign creditors Of that republic are
certain, not only of the interest on
their money. but of getting back the
principal when ii becomes due. In this
latter case, the United States makes
itself responsible for the action OF
its fiscal representative in Santo Do
mngo. If it had been possible for thi!
country to make itself responsible also
for Mr.. Shustcr, and to throw its pro
lection around him as il has done
around its agent in Santo Domingo
there would have been different story
TO tell in regard TO Persia from the
sorrowful one which the world has beer
obliged 10 receive