New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-22
CUBAN ANNEXATION.
ENGLISH OBSERVERS WONDER AT AMER
ICAN APATHY ON THIS QUESTION.

INSCRMOCNTABLE-A NEW oiHAS0
BOND ISSUE NEUTRALITY-SUSPICIOUS. CARE
LESS OF SOCIAL REFORM PROMISES
AMERICAN TRAVELLERS RETURNING
NEW PUBLrcArToNs-srR AUGUSTUS
HARRIss NEW MELoDRAMA.
[BY CABLE TO THE TRIBUNEl
rop,,fcnt 1895, BIZ The Tribune <"oetatfor
London Sept. 2l-The bond syndicates se.
crets II there be any, ar. we'll kept The means
by which gold exports from the United States
have been lecsened instead OF increased since
last weeks shipments by Lazard Freres are not
clearly understood here. Exchange has appar-
emily been regulated by artificial methods. Tor
there is yet no sign that wheat and cotton are
moving in sufficient quantity to read)ust the
balance Of trade in favor OF the United states
and keep gold in the Treasury. Meanwhile
enormous exports Of all kinds OF goods from
Europe to America continue and have to be
paid for before the wheat and cotton can be
sent to market.
With the Yorkshire woollen and worsted fac
tories in full operation, with every loom and
spindle in Lancashire moving, with the STAFFORD
shire potteries employing a large force OF extra
hands and with the iron and steel trades at last
starting up under the influence Of high prices
largng the market In America for English
goods IL disclosed. The effect may not be so
great when the market is again we'll stocked
after the long period OF depression, but at pres
ent the United States is in debt for these in
creaslng imports of English and European goods
and has to settle its bills. while cotton is held
back by the planters for a rise in price. and
wheat also because the price is too low. Ex-
change runs against the United States. and with
commercial bills scarce in New-York, gold goes
out unless the market can be regulated by the
syndicate.
How long these conditions can be prolonged
without a bond issue English fnanciers do not
attempt to forecast. Pessimists think that a new
Issue of bonds is already In sight; optlmsts con-
tend that wheat ard cotton will soon be moving
in great bulk, and that exports from Europe TO
America will speedily fall of. and that the con.
d.tons of exchange will be reversed. 1t Is not
considered probable here that new issue OF
bonds can be averted until the meeting OF Con.
gress; but the resources Of the banks for pro-
tecting the gold reserve are not known nor are
the purposes of the syndicate understood. What
is known positively is the fact that the export
trade Of the United Kingdom with the United
States, which up during the first quarter
from 100000 in 1894 to $4,000 900 in 1885, has
shown no signs OF abatement, but the volume OF
business has been substantially maintained In
the second quarter and up to date. With this
great increase in that trlde for Europe as we'll
rs England apparently permanent factor In
the problem. under the new tariff. fnanciers In
London say they do not understand how the olt-
flow of gold from America can be checked, ex
cept by bond issues.
With the departure Of Mr.. Hall CaiLe on the
Teutonlc, the Canadian copyright question mas
been transferred 70 New-York and Ottawa. Pub
fishers here do not believe that compromise
can be effected One of the most astute pub
fishers remarked yesterday that the Canadian
contention was that the Dominion needed
cheaper books and could have them only by en-
ployng printers on that side Of the frontier
But cheap books will not be profitable any
where" he a1de1. unless the editions are large
and Canada is too small a market for thee;
hence it's printers could not lower the price with
out ceiling their books across the border, where
alone large editions could be marketed"
This was an effective summary OF the ques-
ton If Canada were out in the ocean, like Aus
tralia without an American market alongside
in which to underse publishers who were deal
Ing Justly with authors foreign as well as ma
tive born there would be no copyright question
Political discussion ls at a low ebb when tho
Duke of Devonshire's two talks about farming
and the poor laws are dealt with as important
events On the first occasion he made the sin
gular remark that English farmers might even
now be suffering to some extent from the effects
Of the protective system under which the last
generation was reared. The natural reply TO
this would be that 1t was likely that they
were suffering from the effects Of the free trade
system under which the present generation 10
living on the second occasion he discussed tho
subject Of State-aide1 insurance and old age
pensions, without committing himself positively
to Mr. rhanberlans ideas or commencing these
policies gs anything more than tentative prof.
ccts Liberal critics assert that the natural
order has niready been followed. Mr. Chamber
lain proposing various measures before the clcc-
tions for the rake of obtaining the support OF
the working people and then the Duke OF
Deyonshire condcmnng them with faint praise
as experiments which might be tried In small
way but with extreme caution and nnaliy Iprd
salisbury's Government nihgng them aside a.
crotchets and faGs.
The Unionlst journals are already declaring
that the poor laws must remain In their present
form, and that for the State to provide old-age
pensions out OF hand would be Socialism In its
crudest and worst form. and would impair the
habits OF thrift and self-restraint among the
working people Nothing OF that sort was said
on that side during the election period. when the
Birmingham leader was advocating old-age pen
sions and a system OF State aid for enabling the
poor man to buy his home. 1t now remains to
be seen whether Mr.. Chamberlain will abandon
his ammunition in the open field, when the battle
has been won. or will store 1t for future use warn
ing his colleagues against drenching 1t with cold
water.
has been agreeable socially rather than important
in technical sense. The largest interest was
shown in the discussion Of race and folklore
questions In the anthropoogy section. Great use
was made OF lantern slides In section work. and
this Increased the interest Of the audiences. The
decadence OF farming and the distress OF the