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Show H srsrr: - I Will They Be Welcome A DISPATCH says that Col. Roosevelt's tour of Europe will result in Increasing the H number of emigrants from Europe to this H country quite 200,000 this year. We do not know H whether that, if true, is good news or not. Most H of those that come are poor, most of them are H from southern Europe for those from the United H Kingdom are going now, because of cheap lands H to Canada, they do not know our language. We Ht are just finding places for those thrown out of H work by the panic of 1907, and to us, the outlook H for the next two or three years is not all rosy. H The increase of money in this country comes H mostly from an excess of exports over imports. H And when we take into consideration the amount B; of money paid to foreign ship owners in fares and H freights; the amount that has to be sent away B to meet the interest on debts owed by American Hi corporations in foreign countries; the dividends H that have to be sent to foreign corporations on m their investments in this country, and the money B spent by rich Americans in foreign countries, it is B clear that unless our exports exceed our imports H by quite $600,000,000, we are falling behind in the m volume of our money. Let that fact be made clear H on this side and the first impulse of prudent men B who have surplus money will be to begin to lock B it up in safety deposit boxes, "until the storm E passes by." Let that movement be once started B and the immediate effect will be a tightening of B the money market, even as it was three years ago, K which in August culminated in the panic. This, B' ' too, was when the country was full of money and B there was not the slightest cause for trouble. By H a combination two of the big money trust houses B were caught napping and had to close tbeir doors. B That was enough to frighten every one who had B surplus gold and they began to hide it away, and fl; business was paralyzed from ocean to ocean. That Bi Is liable to be repeated at any time, because there Bj seems to be no one in Washington with the need- B ed knowledge to put the finances of the country B on a plane where such alarms can be met and BU discounted. H Already half the world is closed against our B exports, and the causes which produced that are V greatly disturbed relations with South America, so H' much that a great many millions of dollars in gold Bl have been drawn by those countries from us to B pay for what we purchased of them last year. It H) may be said that if there should be a great in-Bl in-Bl flux of foreigners to our shores this year, they B would bring with them a good deal of money. It B would not, however, be one-tenth of the amount fll which foreign born men in this country are an-H an-H nually sending back to their families. While for-H for-H eign countries are always hoarding their money H and adding to it in every possible way, our coun-B coun-B try, at least our government, and our very rich B people seem to have a craze to send abroad as B much money as possible, and the government H seems utterly helpless to enact any legislation to H either stop the everlasting drain, or to establish a B financial system through which our country could H meet a financial calamity and turn it back. The 1 only remedy, when in a close place, seems to be B to sell more interest-bearing bonds, to add new B burdens to the taxpayers and still further mortal mort-al gage the country to the interest gatherers at home H and abiyad. In such a situation, we doubt very B much whether increased immigration of foreign-B foreign-B ers, who come to seek employment Is good for the Hj country. They will have to be fed; their children will have to be educated. Have we not enough of such people already? True there should still 1 be plenty of room and plenty of work, but as things are now drifting, how can the work be furnished, fur-nished, and the workers paid? |