The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-04-10

! petrol) which is very dear, selling
here for AZ cents per gallon, and in
France for more. They are making
a good many light weight foreign
cars now, but charge more for them
than dealers do for American cars.
Foreign cars are generally very heavy
and they are not as graceful and at
tractive in appearance as ours. There
are very few high priced American
cars in Europe
Immense Wealth.
Europe is very rich, muhc more
so than We appreciated The wealth
of Europe is immense. England, of
course is richest. English people are
enormous holders of foreign invest
ments, and they are quite familiar
with business conditions in every part
of the world. The industries of Eng
land do not support the people; their
imports exceed their exports but the
revenues received from investments
in every land are gigantic, and Eng
land is master of finance. Fortunes
made in centuries gone by have stead
lily multiplied and are being held to-
day with that degree of finesse that
should make our nation keep a watch
| full eye. France is rich in money and
Investments, and Germany in manu-
facturers principally, but the Germans
have made much debt in their very
ambitious undertakings, and they
are severely pressed for cash. Ger
many is so pressed that the people are
fearful, and much boarding has re-
suited which is making bad matters
worse. Bank customers here are pay
ing A IL to per cent. against the
/ heretofore normal rate of say 1-2
! per cent. and less. Germans are be-
/ ing refused loans at 1-2 per cent.
Banks here are under strain, and it
is believed that it will require period
of years to bring about enough health
full liquidation to relieve the pressure.
A banker called my attention to the
pressure of every nation, all of Eu-
rope, China, Japan and America, all
at high tension. Some fear America
is too much extended, and express
concern. American dispatches state
the gold recently exported was money
loaned. One banker here expressed
the opinion that some of it was loaned,
but the London agent and manager
for the Guarantee Trust company of
New York thinks the movement of
funds was due to a debit balance ow-
ing to Europe, which seems plausible
in view of the sharp rates that have
prevailed in New York, and the mar
row bank reserves.
America and Europe lnterIocked.
European conditions are so inter
locked with American finance that we
should keep the international situa-
ton in mind to a much greater extent
than has been the practice. No one
seems to look for trouble in the pres
ent situation, and I have seen no ca
lamity howlers, and the chances for
/ StueIdl European war are Certainly
remote, present opinion considered,
but if anything happens with present
conditions, to cause a general selling
of American securities, and conse-
quent transfers of gold, the financial
strain would be somthing not hereto
fore experienced.
The railroads in England are the
best we have ever seen. The con-
struction seems perfect, and one new
er detects low joint, or bad piece of
track. The equipment Is smaller, and
light of construction, but entirely safe
and very comfortable. They are all
fenced, all have two 'or more tracks,
all public roads go over the tracks,
and where we have noticed foot cross
ings, they are over or below the rails.
This Is wise provision as the trains
are so very fast, and one is passing
every few minutes. 1t is astonishing
the number of TRANS that go whizzing
by. There are always two station
houses, one on each side for trains
going in either direction. The rail-
roads in France are similar but not
near so good.
All streams that can be used appear
to have been developed. We have
seen barges and small tugs on very
small streams in every direction.
The crowded conditions over here
and the perfect development of the
countries offer the brightest hopes
for our future, and mammouth sums
are to be made by our people on our
little appreciated cut-over-lands. How
ever, our country is a mere child in
age comparatively speaking, and some