5o6 



The Review of Reviews. 



aggregating nearly eight thousand 

 million pounds. These figures are 

 startling, but are the result of the 

 special investigation undertaken by 

 the Committee of Banking and 

 Currency of the House of Repre- 

 sentatives. The exaggerated invest- 

 ment of European money in 

 American bonds must inevitably 

 place Europe at the panic discre- 

 tion of the two money kings of 

 America. A dispute between Europe 

 and the United States, say on the 

 Panama question, in such circumstances 

 would only need the decision of Messrs. 

 Rockefeller and Morgan to depress all 

 American stocks held in Europe by a 

 hundred points to create on the Euro- 

 pean Bourses a panic and a disaster 

 far outweighing any possible loss in 

 time of war. Before giving such a 

 hostage to the United States, enabling 

 her to dominate all but the smaller 

 States of Europe, should we not pause 

 and reflect that in America there is 

 practically no holding of European 

 securities, and that, therefore, America 

 could act in this question without any 

 disastrous consequences to herself ? It 

 is well for Europe to think seriously, 

 yes, and even to read Mr. Norman 

 Angell's book, before taking a step 

 which may so easily be fraught with 

 disaster. 



Before these pages are 

 The in the hands of our 



Presidential -• , -, , 



Election. rcadcrs the most sen- 

 sational Presidential 

 election of this generation will have 

 been decided. Mr. Woodrow Wilson is 

 generally expected to be chosen as Chief 

 Citizen. Mr. Roosevelt's chances have 

 been appreciably improved by an 

 attempt on his hfe made at Milwaukee, 



when a man named Schrank, who was 

 roused to the deed by wrath at Mr. 

 Roosevelt's seeking a third term of 

 office, shot at him and wounded him 

 in the chest. Happily the wound has 

 not proved serious, and Mr. Roosevelt 

 has, with characteristic courage, risen 

 from his sick bed to address the final rally. 

 America's chief contribution, however, to 

 the world's life this season will not be the 

 Presidential election, but a magnificent 

 harvest. In striking contrast to the 

 ruined harvests of the United Kingdom, 

 the United States have this year 

 harvested crops said to be of the value 

 of 2,200 millions sterling. This bounti- 

 ful gift of Mother Earth means not 

 merely exuberant prosperity for the 

 Republic, but a vast addition to the 

 general wealth of the world. 



An example of the way 

 The in which foreign affairs 



Chinese Loan. are tOO oftCU rUU lu 



this country was 

 afforded by the recent Chinese loan. 

 China, proud of her new independence 

 from autocratic domination, but need- 

 ing the necessary funds to carry her 

 over the necessary period of organi- 

 sation, entered into negotiations with 

 a financial group known as the Six- 

 Power group for a loan. The finan- 

 ciers insisted that China should borrow 

 £60,000,000, and submit to very 

 serious control. The new Republic 

 protested that £60,000,000 was too 

 much, and that it was advisable in the 

 interests of her future development to 

 avoid overburdening herself with debt. 

 Besides which, as far as possible, China 

 desired to retain liberty of action in 

 her internal affairs. The Six-Power 

 group, however, refused to consider 

 any other conditions, and China, there- 



