Show GOLD GOING TO EUROPE There Is a steady drain of gold from New York to Europe The New York press Is trying In vain to explain It They point out that there Is a heavy balance due this count r on merchandise merchan-dise account They say Jiecurltlca arc nOt being returned and atlll the llov of I gold out goes on and they are baffled Tliere IH nothing very strang about It If the fact is kept in mind that during the last three years this country has drawn from the reserves of tho Old World quite 1500000000 Some of It has come In the form of securities returned re-turned Some is jio doubt still due across the flea but as The Tribune pointed out 0 year ago the wonderful change In the finances of this country which has taken place during the past three years has not been a creation of wealth but It has been transferring the I I wealth of the Old World lo this It Is I reported that In every money center of I Europe the finances are In a disturbed I state and to that Is added the expenses I ex-penses ot the South African war with the result that the nations are looking to the only source from which money can he obtalned and that Is I tlie United i States I Is i something to be rejoiced over and at the same time to be deplored de-plored because If I so much should be shipped away as to cause something like uneasiness on this aide there are plenty of people who would like to take advantage ota state of affairs of that kind and precipitate financial troubles tn this Bide If for no other purpose than to affect the election this year On the other hand as the world Is looking to us for a fair supply of money 1C that thing lo kept up for Q little while the more and more Impression will grow firmly fixed that after all the capital world ought to be removed of the commercial worl moved from London to New York and when tho people got to thinking that be long until It will be way It will not 10nS unti J situation makes more clear done This slLnUon cNr what The Tribune said months ago I namely that It was useless at present the silver question here tal to press sl C l ueslon I relief to be looked for would the only relc < < bo from the centers of the Old World I and the combinations there lo restore I f sliver That will not be this year or nexl but If this country continues to feed the Old World to supply It with textiles and above all If It takes Us place as tile great manufacturing center cen-ter and continues lo do what It did last yeah and year before ship abroad of manufaclurtd products so much thai I It amounts annually to I large percentage I percen-tage of all the t gold In the world the result will be that pretty soon the Old I World will be practically bankrupt and I will bo ready to listen to reason Even will consider l a the bankers of London wIl t I mailer very differently when they arc i borrowing money and struggling to get along from what they would when the world In trouble went to them for loans |