New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-14

EFFICIENT MANAGEMENT OF THE Gov-
ERNMENT BUSINESS IN THE COM
MoNs-THE TRANsvAALs PROFIT
OUT OF THE JAMESON RAID.
lBY CABLE TO THE TRIBUNE.l
London. June 13-The nomination of Mckinley
is accepted by the English press as foregons
conclusion. but not with any signs of pleasuraoie
emotion. He is recognized instinctively as the
champion of anti-English economic policies, ana
public opinion recoils from him. Mr.. Chamoer-
lain may succeed In the course OF time In popu-
larizng protection in England under the guise OK
Imperial Federation. but Major Mckinley can
hardly be expected to disarm the British pre)u-
dice against protection in America. Little is SAID
about his tariff record but 1t is remembered In
Bradford Manchester and Swansea. and every
where else in the United Kingdom.
More is said about his reticence on the currency
question: English censors not having mastered
the idea that 1t is not customary for Pres-
Dental candidate to dictate the platform to the
nominating convention, but merely to expound II
in his letter of acceptance. Among well-informed
bankers and investors there is keen interest In
the financial plank of the Republican Convention.
and it is not unmixed with apprehension A we'll
known fnancier said to me: What investors here
would like best OF all would be an explicit dec
laratlon from the convention In favor OF
the single gold standard; that would SEND
all classes Of American securities up with
rush But that is too much to expect under the
circumstances from great silver-producins
country. What will satisfy Lombard street ana
investors generally is the distinct assurance tnat
gold payments are TO be maintained, coupled with
the emphatic repudiaton OF the free coinage OF
silver II the plank states that gold and silver
will be kept a parity, that VIII be unoD)ecton-
able What 10 wanted Is the assurance that
America will not become a silver country but
that the greenbacks and bonds Will be paid IN
gold and that existing gold contracts Will NOT De
repudiated If platform Of this kind be adopted
at ST. Louis with a reasonable prospect OF the
election OF the Republican candidate for the
Presidency, the effect upon American securities
will be instantaneous and most beneficial Amer
leans are now on trial. and the conventions VIII
show whether the parties are honest or dis
honest"
Whatever effect may be produced In Lombard
Street by the sound financial utterances OF the
St Louis platform 1t is not probable that the Re-
publican party will be credited by the English
press with either patriotism or honesty II NC
| Kinley be nominated VOLTA McKinleyism c'est
rennem," is the English paraphrase OK Gam
betta's famous indictment Of clericallsm his
tariff record will make II difficult, II not imprac-
ticable for English csnsors TO interpret any cur
rency plank of the convention that nomnates
him as an unequivocal declaration In favor OK an
honest financial administration
Free trade hostility to Mckinley Will be en-
bttered by the knowledge that Mr.. Chamberlain
has dealt Cobbenism n staggering blow in his pro-
posals for an Imperial Zollverein Mr.. Asquith
lost no time In condemning the plan OF a Gus
/ traie ui
without the Empire as unsound in principle un-
works BILE in practice and chmerical as idealj
and the Liberal press generally has denounced
Mr. Chamberlain as a prOtectiOnlst playing with
fire Mr. Asquith even so frantic as 10 pre-
dict the ruin Of the colonial manufacturers II MS
! Zolverein system were adopted This was hard-
~ logical from CobdAns point of view. for MT.
/ Chamberlain merely purposes 70 subject colonial
manufacturers TO that unrestricted competition
with british manufacturers which free-traders
have always affected TO consider helpful ana IN
viaorating and by NJ means destructive to for
! egners The Liberia press finds a more adroit
argument against the scheme In the increased
cost of living in England which would follow the
! imposition OF duties upon American and RUSSIAN
corn The Congress Of Chambers OF Commerce
/ found It impracticable to agree upon any precise
project for a Zollverein. and ended by adopting a
! council for discussing the whole subject
Mr.. Chamberlain has sown seed which will be
scattered broadcast over the Empire He has had
the courage 10 risk being called a protectlonisr
/ and 10 substitute for the usual meaningless
platitudes about Imperial Federation practical
scheme for binding the colonies to the mother
country by bonds stronger than sentiment. More
over he has furnished the farmers who have
| been ruined by free trade and the manufacturers
and merchants who feeling the tremendous
weight OF German competition an alternative
| policy for Cobdenisnl. with a name less trying to
English ears than protection.
F. c. Gould hits oft the situation we'll In The
Westminster Gazettes" cartoon representing a
| group OF resurrectionists exhuming the remains
Of Protection. The Duke OF Devonshire and Mr..
| Chaplin are discussing how the body shall be
named when once dug up. Let's call 1t I'M
perial Federation" remarks Mr.. Chamberlain.
with smirk. but Mr.. Lowthsr prefers to be
! truthful I'm going to call 1t Protection" he ex-
| claims with decision
The Transvaa plot a ock-jobbing raid
in it's inception. and the consprators have been
ransomed for cold cash. Four Reform leaders
have been released on payment Of $4,000 each
which is a cheap bargain in exchange for fifteen
years Imprisonment to say nothing OF the life
! OF millionaire. AS the damages already as
sessed against the prisoners previously released
amount to nearly S5S0000. the Beers have made
a good thing out OF Jamesons raid-somethlng
over 81 100000. Katir stocks are now rising
rapidly, and there some signs Of a new specu-
lative boom in Rand shares. Barney Barnato
was the real man for the Transvaal crisis. He
perceived that magnanm!ty could be purchased
II the bids were high enough. He might even
hay edpi
though the operation would have been expensive.
II may be necessary to employ him to negotiate
the settlement OF the claims against the Char
tered Company. When these bills are paid and
added TO the fines collected from the Johannes
| hurrnrs IA xes ought be lgnt In the Transvaal