The New York herald., 1878-12-20
7ELEGRAPHIC NEWS
From All Parts Of the
World.
ENGLAND'S FINANCIAL CRISIS.
Anxiety Expressed on Every Hand
for the Future.
THE TIMES EXPLANATION.
THE TINES EXPLANATION.
Lord Beaconsfed Receives the Tribute
as'-Eiceapfrom California.
rxcpan6.
iILN
[BY CABLE TO THE HERALD


started Thursday. The tribe musters 700
warriors. 1t is expected that, if cornered,
they will fight until they extermnated. The
Daily Teleaphs correspondent Paris denies on the
most trustworthy authority that Russia has yet re-
called the Afghan Mission. Russia has only prom
ised to do so.
TURKEY AND THE WORLD.
The Times correspondent at Berlin states that not
wthstanding the denial by the Journal de ST. Peters
bury. it is known in authoritative circles there
that negotiations still pending relative to the
method OF starting the proposal for joint
occupation of the Bulgarian districts in the event
of disturbances after the Russian evacuation. 1t
is believed that Russia would refuse assent.
but this would not prevent the other Powers
from acting. The Tunes correspondent at Con-
stantinople says he hears on good Russian
authority that soon as order is somewhat
secured in Eastern Roumelia the Russians will
retire. The dehEitSe treaty is in fair way
of settlement The newly appointed commits
sioners OF the Porte have proceeded to the
Greek frontier The correspondent Of the Telegraph
at Vienna denies that the Roumelia Commission
has returned to Constantinople A despatch to
the Times from Vienna states that with the
victory of the government on the Eastern policy,
the Ministerial crisis may be considered as sur
mounted, both there and in Pesth. The Daily Tele-
0rdph's Constantinople despatch says that Romer
will be expelled from Turkey. with the consent of
the American Legation despatch to the Daily
Telegraph. from Constantinople reports that an un-
precedentcd gale had prostrated many houses there
and it was feared that many persons were killed.
OLDHAM REAWAKFNINa
despatch to the Times from Oldham says:-
Several mills principally those of the limited com
panies, have begun running part of their machinery
et the ge9uAtiap; but the 'mnders have in very
fswnscases appeared to look after the mills. The
'pieeers engaged in many instances for the mind.
ers work have performed their duties satisfactorily
1t s part of the scheme OF the employers to break
down the fMinders' Union by employing .piecers' to
tend the mills, and thus dispense with the minders'
altogether The following companies have started
work The Borough, the Broadway, the Hggin-
Shaw, the Bell. the Werneth, the Equitable the
boundary and the Honeywell. In the case of one or
two they have been Obliged to begin in consequence
of large and profitable orders. A scheme has been
set on foot by which the reduction will remain in
abeyance until the settlement of the dispute Mean.
time the money will be invested interest and il
the employers win they will draw the money and
sfcs Uersa. q ~
a. AoN TERRIBLE PROSPECTS.
,ni'The employers generally will not agree to such
thing and demand that the five per cent reduction
be. unaonaitionaly enforced. 1t is stated that.
30, bad IL trade, they even prepared. should
the operatives go in upon reduction, to run short
time. They are firm upon the question of the re-
duction The strike has entered upon its fourth
week. and there have been lost in wages EGO OOO be-
sides the loss of capital. There is great distress
among the laboring classes. and appeals are being
made for their relief"
THE STRIKE MUST GO ON.
The Manchester Guardian says:-"Judging from
the tone of the district meetings there seems to
be every to believe that the strike will con-
tinue for some time The districts whose headquar-
ters in the centre of the town unanim ousIy
resolved to remain out. They did not re-
gard the scheme Of 'trusteeing' the reduction
Professionally worthy of attention. All the meet
ings. as far as heard from. voted to continue the
strike and say they have plenty Of support from the
other districts" The workmen in the slate quarries
at Bangor Wales. who have been on strike have re-
sumed work on the masters terms.
SPECIAL PLEADING.
The Times in its financial article yesterday said:-
"Therc is q good demand for money maintained ut
the Bank of England. Seven per cent has been
charged for advances. 1t is quite possible in spite
of the influx of gold from abroad that the bank re-
turn will show a further reduction OF the re-
serve. 1t is important in the present cir.
cumstances that too much should not be
made of this circumstance. 1t is due almost
entirely to the unprecedented expansion Of the note
circulation at a most inconvenent season of the
year. At the present moment the banks, in London
more particularly, have very large unemployed
balances. and through their disnclinaion to afford
the usual accommodation the demand is thrown
IN sly
with this pressure securities have been realized
to a large extent ana the proceeds sent into the
provinces. 1t should be impressed upon those who
do not absolutely need money that they only tend 20
increase the temporary stringency by boarding
necessary supplies There is commercial demand
worth speaking of. and there consequently be no
whatever for the continuance of the existing
tightness after the turn of the year. provided fresh
financial difficulties do not arise to create further dis
trust"
THE DIsTENrER OF DIsrRrsr
The F,adncier, referring TO the depression on the
Stock Exchange yesterday afternoon. says:-"The
most disagrccable feature the cagcrness shown TO
catch up and dwell upon the rumors Of banking and
mercantile cmbarrassmcnts. Stories Of this sort
were rife and several establishments were referred
20 in q way that should be prevented IL possible.
The inevitable tendency of these stories is to increase
the public uneasness and prolong and aggravate the
state OF tension. The bills of firm in the East
Indian trade have been returned Its liabilities 1t is
believed, are not heavy" The name of the firm
fcrred to is that of Ellsworth Sons Co., No. Cor
bet court, Grace Church street. Il. G.
THE CALIFORNIA cAsKEr.
Lord Beaconshcd yesterday received the deputation
from the Pacific coast which presented testimonial
from the British residents of California. In accept
ing the testimonial Lord Bcaconsfcld said that his
return from Berlin ho much gratiicd at the
recognition his efforts received from the colo
nies. but this testimonial from British residents of
great country like the United States especially
pleasing. The address accompanying the testimonial
referred to the Treaty of Berlin. Lord seld
believed the treaty would tend TO the pacf fcation Of
Europe In that belief IT made and though there
might be those desiring its failure that not the
feeling of the signatory Powers who determined
4an treatx exccitel The addrcss alsn