OCR Text |
Show FAVORABLE SIGNS. More of tho gold shipped to Canada to moot tho financial obligations of this country to Great Britain is finding its way back to New York, $8,500,000 iu all having been received since the first of the year. In due course of time tho entire amount will bo safely stowed away in the vaults of the American bankers. It is understood this $3,500,000 has been placed to the credit of France, which country has been and is still making heavy purchases pur-chases of foodstuffs and war material in the United States. Heretofore all such balances have been held by the London banks through which tho business of tho entiro world has beon douo. Payments are now being be-ing made to sonre extent through tho New York banks and many of the foreign for-eign countries, their merchants and manufacturers, have been almost forced to sover the old relations and protect themselves from commercial paralysis as well as the hazard of war. American securities held abroad continue con-tinue to be marketed in New York, and they are being slowly digested in Wall street. Stock exchange restrictions prevent the wholesale dumping of these securities, but sooner or later the bulk of them will bo held at home and dividends divi-dends on stock as well ne interest on bonds will be retained by tho fortunate investors of tho United States who are picking up prime bargains from day. to day whilo the prices are low. Once the war is over these securities will be found to have gTeatly increased in value and the investors will be still further enriched. Money is still "easy" in the United States, and were it not for radical changes in tho laws the full tide of prosperity would bo upon us. If the war continues another year it is doubtful if even tho most radical "reform" legislation can retard re-tard business. COLONEL MARCIIAND. The announcement that Colonel Mnr-ehand Mnr-ehand has been promoted to the rank of brigadier general will recall some painful memories to the Fremdi and English allies. It will also recall to the attention of the world that seventeen seven-teen years ago tho English and French peoplo were as bitterly hostile to one another as they now are to the Germans. Ger-mans. They viewed one another with di-druat nn 1 hatred. They regarded re-garded their countries na natural enemies, ene-mies, and tho possibility of a iVanro-English iVanro-English alliance was not then in the mind of the wildest visionary. It was a tiino when German diplomacy might have isolated Prance and formed on allianco with England, but the opportunity oppor-tunity was lost and did not reappear. j Colonel Marehand retired from tho French army some time ago, but at the outbreak of hostilitieb he proffered his servires and w'as appointed a colonel, tho rank he held upon his retirement. He ban diting-.iihed hiin.-elf several (time-:, and ho emerges from tho smoke of battle something rf the popular hero j he v,-ns in the days when he defu-d Kitchener of Khartoum. Colonel Marchncd was in command of the French force whb-h eroded from tho French Congo, after heartbreaking difficulties, to FaMitvla on the White Nile in Upper Soudan, two months before be-fore the batMo of Oindunnan, in which i General Kit'dimnr, with his Anglo-Egyptian Anglo-Egyptian forces, defeated u vaat army of Dervishes. At the conclusion of his campaign General Kitchener discovered Marchand nnd his forco Rt Fashoda. Tho French officer felt that he had ' won tho territory for his government, and ho refused to retire without orders j from Paris. Intense bitterness between Franco land Great firitnin was rrenttd by the i'ashoda affair, and accusations and eoutompt.iious epithets were hurled to 'and fro acroM the channel. Alter much : I dijomutic correspondence, Colonel Mnr- j chand and his force were recalled, lea v. ling Fashoda on December 11, 1S0S. j When he returned to Franco the colonel permitted himeelf to become the. head of an anti-governmental campaign, which was also anti-British. As a rc-Mi!t rc-Mi!t he incurred the displcn:ire of his j government and was put on half pay. |