The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-27
GERMANY AND THE LOAN
A HUE AND CRY AGAINST SEND
ING MONEY TO RUSSIA.

ican Captains Impression of the Ma
neuvers of the Army.
Copyright, 1891, ov the N. Y. Associated Press)
BERLIN. Sept. 26.-The government finds
it necessary TO explain the policy permitting
German banks to take part Of the new Rus
sian loan. The unity of the press
protesting against Germans taking part
Of the loan has convinced Chan
cellor Won Caprivi that grave
political error would be committed if de-
nial was not made of the rumors circulated
by the syndicate interested in the matter
that the loan has the tacit sanction Of the
German government. Above all it was held
to be incumbent on the question that was
heard everywhere, from press and bourse,
and public, whether the new departure in
the German financial policy toward Russia
implied annulment of the prohibition
against the Reichsbank lending money on
Russian securities. The crusade of the
semi-off1cial press against these Sc
curities has been long and persistent.
The question was naturally asked what
had occurred to cause the government to
reverse the policy that it had formerly fol-
lowed. The North German Gazette. the
official organ, publishes communication
tonight in which it denies that the govern
ment is in any way departing from the path
OF political finance which it has trodd9n.
The Gazette further states that no modifi-
cation is intended in the prohibition against
the Reichsbank loaning money on Russian
securities
HOW THE RUmoR STARTED.
More detailed explanations are given by
the Hamburg Correspondence. This paper
absolutely denies that the government has
assented to the issue of she loan in Ger
many. The Meudelssohns made confden-
tial inquiries from the foreign Office as to
the attitude of the government toward the
issue. In reply the foreign Office informed
the bankers that the present political
situation afforded no occasion for the gov
ernment TO interfere in any form. fhe
chancellor did not design in the reply to
convey the slightest idea of APP
proval. The answer was prompted
solely by the view that the
government was not bound from conSidera-
tions Of foreign policy to take up decided
advisory position for or against German
capitalists who took part in foreign loan
every time one is issued. Bankers, the reply
declared, are m most cases per-
fectly capable of acting upon
their own judgment This semi-offi-
cial statement wants frankness in suppress
ing the fact that the German houses before
joining the syndicate were led to believe
that the foreign Office favored the issue Of
the loan here on political grounds.
THE PUBLIC CLAMoR.
The public clamor against supplementing
tho cash balances Of Germany's enemy has
obliged Chancellor Won Caprivi to drop his
complacency toward the loan. It will not
GO here. Probably the government never
intandad IL n s1N0aad AIkhnnUh tha 20
arranged by the syndicate have been signed,
the rate of issue even now is doubtful, but
it is believed to be about 7815 The
installments were arranged to be
distributed over period of
six months. The emission will take
place during the middle of October. The
committee of the Reichsbank held an un-
usually prolonged meeting to-day and de-
cided not to increase the banks rate of dis
count. The American demand for bullion
is in the meantime far below what it was
expected it would be. The Reichsbank's
discount rate continues to ba regulated
solely by the conditions of the home mar
ket.
THE KAISER AND THE czAR.
1t is reported that Emperor William, who
ls now staying at a shooting lodge near
Eybtkohu, met the train conveying the
car on bis return to Russia from Denmark
and had short conversation with him.
The Post tonight, referring to Count Won
Waldersee's restoration to the imperial
favor, states that the emperor has no1ni-
mated him to the command OF the Guard du
Corps. Tho appointment will keep Count
Won Waldersee in Berlin, and will give him
the ear of the emperor, with whom he will
have greater influence than ever.
BINGHAM AT THE MANEUvERs.
In an interview Capt. Bingham, military
akR oho - 4
has Just returned from the German military
msneuvers, dilated upon the courtesy he
had received from the Bavarian and Prus-
sian authorities, who gave him every oppor-
tunity to see everything of interest.
Capt. Bingham said that he was greatly
impressed by the wonderful uniformity
Of training, which was shown by the SOL
diery on parade as well as on the field. The
marching power of the German army. he
declared, was almost Incredible Speaking
! of the fighting qualities Of the army, Capt.
Bingham said that the main factor in real
war is the marching quality of the men,
adding, "When you can count on
having your forces always on hand at
the right moment. you can win
by force of numbers.n Capt. Bingham
spoke in the highest terms of praise of EN-
peror Williams untiring energies in the
saddle. His majesty, he said, took the field
ut o'clock in the morning and remained
until o'clock in the afternoon. Even the
empress, who attended the reviews, re-
manned in the saddle for four hours,
although the heat and dust
were sitting. She smilingly saluted
the troops as they passed, filing the soldiers
with the greatest enthusiasm, In conclu-
sion Capt Bingham said he had learned
enough of value and interest to the Ameri-
can army to compensate him for a fort
nights fatigue and hard riding.
DINED BY MINISTER PHELPS.
A dinner was given tonight by Minister
Phelps at the American legation to ex-
United States Senator Warner Miller, Mrs.
Miller and Miss Miller. There was present:
Chancellor Won Caprivi, Herr Won Berlepsch,
the Prussian minister of commerce; Secre-
tary Rottenberg, NJ. Menocal, chief en-
gineer Of the Nicaragua Canal Company;
Baroness Berlspscb, Mesdames Bingham,
aud Rereker, Misses Halstead and Phelps and
the British and French charges d'affaire5
During the progress of the dinner dispatch
was received from Mr.. johnson, the Ameri-
can consul at Hamburg, which was read
aloud by Mr.. Phelps. The message read:
The "First American pork certificate was
presented at Hamburg to-day for fifty-four
cases from Chicago. Other shipments are in
port and many are on the way" Mr..
Phelps told the guests that il they could
hold their appetites for few hours they
could have a course of American pork.
Oswald Ottendorfsr OF New York started
on his return TO the United States to-day.
wINCsHED's CONVERSION.
IL h.