New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-24
RrvOgs FRON SOUTH IMERTCA.

RUUORS FROH SOUTH 1MERICA
4 rumor of the impending capitulatlon OF
the allied Peruvian aud Bolivian forces 10
the invading army Of Chill, IN the Province OF
Tarapaca, was yesterday published. This ru-
NOR. however, came through the London
Stock Exchange and it should he read
IN the hqht of the fact that there prevails
in London a violent speculation in Peruvian
bonds. which have advanced since the late
DAYS of December from II to 10; these securi-
ties. strangely enough, growing more buoyant
as the tide of disaster sets in more steadily
against Peru. This anomalous state of the
market is occasioned by the hope that IN the
event of CHILEAN success that KepuDhc
will assume some of the Peruvian
| debt which is nominally mortgage covering
certain productions of Peru. The bondholders
have more faith in the prospective than In
the present owners of this property although
the Chilian Government, so far as known, has
given no pledge to pay the debts OF It's
antagonist Under the circumstances. cautious
dealers in securities will possibly credit this
story to the creative genius OF the stock
broker who has an interest in forcing Peruvian
securities point or so upward.
And yet OH its face the rumor is not I'M
probable. After the defeat of the allies under
General Bnendia, who is now under court
martial. the remnants of his army were said
to have fled northward. These may have
united with the forces under General MOntero
in the vicinity of africa, and that leader. who
is man of ability, perseverance and amDi-
ton, may have FASTENED across the desert to
dislodge the invaders from Tarapaca. The
march under any circumstances would be a
trying one and the poorly clad ana
poorly fed soldiers of the Alliance
would be in no condition to face the
alert and well-equipped invaders, especially
since the latter have a well-organized cavalry
force, while the allies have scarcely horse
If there has been n collision of the two armies,
the result will be known here in few days,
inasmuch as the CHILEAN army is in Geographic
communication with Valparaiso, which, III
turn, is directly connected with London.
BIT even if the report of snch signal sue
cess on the part of Chill is substantiated, an
immediate conclusion of the war can hardly
be hoped for. The mob in Lima would prob
ably cut the throat of PierOIa, the new Die
tator. as soon as intelligence of the disaster
reached the capital. unless he fed as did
his predecessor. But the Peruvian peo-
ple have little dread of war debts,
for they never pay anything, and so
long as they find enough to eat they will
clamOr for a vigorous prosecution oil the
"war" The temper of these patriots was
manifested in the scenes OF blood which at
tended the seizure of the Government by
Pierola. after President Prado escaped. No
administration would dare TO Drofler or accept
terms of peace unless these terms were die
tated and enforced by Chilian commander ut
the Peruvian capital. Such result is not
impossible. Already the CHILEAN feet is block
aiding Calao The Huascar is once more
equipped for cruising. and the Peruvian fleet
is completely swept from the sea- Victories
like the orc reported would release the CHILEAN
forces from garrison duty in the con-
quered province The dissolution of the
alliance between Peru and Bolivia, which
is also predicted, would still further en-
courage the Chilians to send a large expcdi-
ton to the North. But all this will take time
even under the most favoring conditions and
meanwhile the staunch little Republic IS in
mourning for the flower of her youth who
fell in the dearly won victory nj TarIpaca, the
ladies of her best families are doing hospital
duty among the wounded, and new internal
loan of $4,000, 900 has been authorized by
her Congress If tins destructive war can bc
terminated in only one way, the civilized
world will unite in the hope that uninter-
rupted success will hasten the time when the
Gillian flag shall once more float over the
Peruvian capital.