New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-21


way 10 solve some very serious problems
with which England IS confronted.
AS 10 the financial conditions IN Lon
don. interest rates are very high. az they
are all over the Continent. but | do not
believe that England is so much affected
by the war scare as are France and Ger
many. Money cannot be obtained in
France at present at any rate Of interest.
The Investors Of France are the great
body OF people Of moderate means. and a
war scare locks up the money there more
than In any other country In Europe.
This Is a temporary condition. however.
AS ! believe there Is going 20 be no Euro
pean war. The scare will soon pass away,
when large amount Of investment
money will be released in that country,
especially In gold. which. To use the COM
mon expression in France. has disap-
peared into the stockings Of the people.
Different Conditions in Germany.
In Germany conditions are different
than I'm France The scarcity OF money
and high rates Of interest In that coun-
try. while probably somewhat due 10 the
war scare have been more affected by
the enormous business and trade eXpan-
sion. including manufactures and all
other branches OF industry. Money rates
in Germany to-day rule from to per
cent. but from what I could learn busi-
ness f. very good all over Europe, and
believe there is no danger Of any general
financial crash
The enormous cost OF European war
Is the principal deterrent influence. and
Germany and France are having a fore
taste OF what this would mean IN the
threatened imposition of what to this
country would be perfectly enormous bur
ders IN order TO place their armies on a
war footing. The threatened war taxes
have opened the peoples eyes over there
10 what such war would mean. be
lIeve the German Emperor's influence Will
be largely for peace.
Consular and diplomatic service Of for
.igu countries Use every effort TO increase
tn, commerce OF those countries. The
United states practically has no foreign
l.uollcv. as il changes every four years. or
more frequently. Wherever the German
or English diplomatic agent is he IS cuiu-
waiting the people, the trade. and his gov
ernments influence is used 10 back up
his efforts to improve lts foreign COM
morce.
Il do not know that We should have
permanent diplomatic corps but We
should have trained consular service
| believe every one realizes this. and We
must cultivate and use their influence
and the influence of our diplomatic corps
10 cultivate foreign trade. Another thlng
which handlcaps Va IL that We have no
merchant marine. In Germany any mer-
chant can 30 To his nearest railroad sta
ton and obtain rates FOR delivery Of goods
60 any place IN the world. and know eN-
actlv what he has got to pay while a
| merchant In this country can find out
what II will cost him To ship TO the sea
coast Then he takes his chances of get
ting rates and ships beyond that point
Furthermore. foreign banking facilities. as
! President Wilson has stated. enable Eu-
ropean powers To- aid their merchants anu
manufacturers IN foreign countries
Merchant Marine Needed.
Among South American republics the
trade of Germany and Great Britain has
must develop "A merchant marine and i'm
| prove our consular service ana banhlns
| facilities and aid and enco Irage our mer-
| chants and manufacturers II We intend 10
maintain any foreign commerce of impor-
lance.
AS to financial conditions In the United
States think our business and financial
conditions are sound. and generally good
I see no danger OF any panic, but as
everybody else does think Congress
| should take some action on the currency
reform.
II am not familiar with the details Of
the six power loan or OF the restrictions
the Chinese government required of the
various bankers and governments The
statement of President Wilson is exceed
inglv interesting. and no doubt was justi-
fed BY the circumstances. and | under
stand that this does not mean That our
government will not aid I'm other ways the
development of our commerce with CHINA
and with other foreign countries.
whether we accomplish this by going
il alone or in concert with other coun-
tries. we have "A great interest in the
maintenance and integrity ol the Chinese
our trade and commerce. think If We
are going To pursue "A policy of encourage
ment we. as a great republic, should rec
ognize the Republic Of China. There may
Ice reasons for not ioins II that al
course. | am not familiar with. | am
fearful that European governments Will
not be so altruistic in gobbng up the
trade. commerce and concessions In CHINA
as we appear To be. and | think We ought
| To maintain the policy lnaugurated by
John Hav and subsequently continued by
Mr. Root.
Il do not understand. neither do | be
Ueye that this administration intends 10
abandon that policy. | am not familiar
with all the conditions wE'ch originally
inspired our governm, u tahe part IN
fine Chinese loan. Undoubtedly II was IN
nlrtherance of "A friendly interest for the
Republic of China. which neeaed great
financial aid in order 10 place IT on firm
basis and should that condition arise
again. as II may. IL certainly would he 10
our interest to assist In relieving China
of financial embarrassment
"Of course. as President Wilson says. i
would seem as though We ought not 10
| In aia RI nt.a ANYTHING that