New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-07


now reign however Mr. Chamberlain beams
benevolently upon the oldest Tory, and the smile
Il returned although the Liberal Unionists have
secured offices in the ratio Of one to every seven
seats. - %.
The operators Of the Morgan-Rothschid syndi-
cate are favprably commented upon in IMAM
clals circles. but the apprehension is expressed
that the United States Government has not yet
heen extricated from its embarrassments. Ihe
Ecenonilst.'- in commenting upon the last syn
dictate payment for bonds in American gold ana
its success in preventing shipments of gold from
New-York by the sale of Sterling bills IN the
State. and BY placing large blocks OF American
railway securities here. expresses doubt "he'h-
err the treasury. when left to its own resources.
will be any more able than before to withstand
the drain upop the gold reserve. THE Econo-
mist.,considers 1t certain that II once drain
sets In and the reserve IL reduced below the
minimum the process of depletion Will become
increasingly rapid and the old fear as TO the
ability Of the Treasury to maintain goId pay
ments Will revive and people VIII become eager ~
secure gold while 1t is obtanable; all the more
because Of the foolish agitation in favor OF the
free coinage of silver. The reasons for the hiooi
hcation Of the Treasury contract with the s'"ui-
cate by which the bargain is closed with 'he
Anal payment Of American In place OF EURO
pean gold are not understood here put II Is
suspected that there Is a secret UNDERSTAND
ing or an implied obligation on the part OF the
bankers TO do what they can to prevent the
Treasury from being drawn upon for gold ior
export during the next few months This wouio
be an obligation easily assumed. because gold
will naturally go from Europe to America IN
the ordinary current Of trade exchange during
~ > but Txoyro har
" considers II credible that the syndicate has
guaranteed the Treasury for any long period
when the bond bargain has been closed and set
tied The substitution Of American for Euro
pean gold was not apparently a very impor-
tant CONGO ;sion The dependence OF the United
States Treasury upon European banking syndi-
cate for the maintenance Of the gold reserve
and the resumption law is humiliating to Amer
leans who remember with pride the wonderful
achievements Of the Government under Re-
publican Administration in debt-paying refund
ing and the re sumption of specie payments
Americans celebrated their National holiday in
Paris and London with unwonted fervor Inc
most remarkable speech at the banquets was
that of NJ Hanotaux, in which the memories Of
Franklin were revived with a felictous touch
The London dinner was the largest and best
managed ever known if the veterans OF the
American colony are good witnesses. The Amer
lean Society was organized for the purpose OF
securing adequate recognition Of the chief Ma
tional festivals The advantage Of concentrated
effort was disclosed when 400 guests assembled
in the Hoborn Restaurant on Thursday night
to listen to the excellent speeches and to ex-
change patriotic greetings. Ambassador wayne
MacVeagh, who presided IN the absence of AM
bassador Bayard, was graceful master OF cere-
monies and required neither prompting from the
Secretary of Legation nor danger signals from
General Collins. who is always apprehensive lest
an American Ambassador may commit some in
discretion. Mr.. MacVeagh was patriotic enough
to satisfy the most exactng American. but he
did not allow the eagle to scream, although the
Bird OF Freedom was above the chairmans seat.
looking fierce and even warke. President Seth
Lows speech was delivered in his incisive style
and was greatly admired. Mr.. Charles Dudley
Warmers voice was hardly equal 10 the require
ments of so large hall. but his speech was
graceful and effective. Colonel Haines also made
suitable Acknowledgements for the railway dele
gates to the International Congress. All the
speeches Of the evening were In good taste Inc
exchange of greetings with the members or
Emanuel College. Cambridge who were dining
in the same building was pleasant episode
Music was supplied by the Cornell glee and
the Leech sisters. and contributed greatly to the
enjoyment Of the company.
Several smaller dinners were given by Amer
leans in honor Of the day. including most en-
joyable one at the Howard Hotel. Mrs. Bay
ards reception earlier in the day well at
tended by Americans. The American coaching
meet in Hyde Park had been extensively adver-
tised as feature OF the days celebration. 1t
proved to be an exhibition of buckboards, wag-
ons and buggies Of American manufacture, de-
signed mainly for business purposes and badly
arranged. The struggling procession caused
considerable amusement. but 1t was not cred
liable show and many Americans hung their
heads in Hyde Park. Thy importers OF Amer
lean vehicles had chosen the wrong day for their
stroke OF enterprise in advertising their wares.
Americans still swarming into London, and
as the weather continues fine and Is particu-
larly favorable for coaching and sightseeing. they
seem In no haste to leave England for the Con-
t.nent The circuit of the leading Cathedral
towns is one of the most popular itineraries this
season.
Senator Aldrich is in London with his face
bronzed by his recent sea voyage. President Low
has enjoyed the privilege Of presenting to Lord
Rayleigh and Professor Ramsay for their scien-
tihc discoveries, the Barnard medal awarded
by Columbia College Admiral Benham and
Robley,. Evans were at the American dinner:
Mr., Richard Croker also present. Early as
the season is, not few Americans are already
returning TO New-York. Congressman Bourke
Cochran. Mr.. r. f. Pettgrew, Mr.. Logan Car
Isle, Mr.. benjamin Brewster and Mr.. Frank
Thompson sail to-day by the st. Louis.
The sessions of the international Railway Con-
gress have been devoted this week mainly 70
the discussion Of technical questions connect
ed with railway management and construction.
but have been relieved and varied with excur-
sione and receptions Two Of the most interest
ing questions debated have been signalling and
the construction u locomotives, and the Amer
lean delegates have shown that they have little