The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-20

Wow representative % the. Southern
Associated Press this morning upon the
subject OF tho resolution Of the forelsh
Relations Committee OF the United states
Senate, recognizing the Independence OF
Cuba. high official OF the spanish bIn-
entity action on the part Of the Jingo par
q $40 America. Spanish onDitI. Dtnnpt
believe that u viii pass Congress, blt
II u does. surely President ,ic.e-anu'
judging from his past policy WiI tAeI-
else his right 10 veto. There is no par
alel between the rebellion DO 'una anu
Spain's recognition Of the Conieleratc
States OF America as bellCcrents.
a PARIS OPINION.
PARIS. Dec. I9-Fgaro. commenting
upon the nation OF the Foreign Relations
Committee of the United States Senate
yesterday, says.
"In view Of tho fact that Spain Is
firmly resolved upon war with the
United States. in tho event OF receiving
positive insult. President Cleveland viii
refuse 90 sanction the resolutions max
iug war Inevitable"
WALL STREET QUIET.
NEW YORK, Dec. l9.-Spocial.-The
decision of the Senate Committee Oh
foreign Relations 90 report favorably
Senator Camer0n's resolutions recognlz-
ing the independence Of The Cuban iu5ur-
gents. and commitLue the United STATES
10 a policy Of Intervention between Spain
ana the Cuhans, prcclpitatcd sharp scil-
ing movement during tle last two hours
Of business iu tho Stock Exchange. Until
half al hour after Wall street haG re-
ceived news OF the action OF the senate
Committee the stock market was duil
and in the main steady though traces OF
nervousness were discernible. The in
referred 10 a decisive campaign against
values was planned. il encountered prac-
tically no resistance for the market has
been exceedingly narrow for several
weeks past and has not enjoyed the
support Of substantial interests or public
buying. Speculative holders Of stocks
were in condition 90 be easily routed.
because to-day was the first anniversary
OF the Venezuelan panic.
NOT A VENEZUELAN PANIC.
II would be difficult. however. TO draw
a parallel between the two events. Tho
Presidents Venezuelan message came
like thunderbOlt ont OF "a clear sky lt
virtually stunned the Street and was first
utilized in a speculative way by London
operators and dealers IN American securl-
ties who sold them heavily and effec-
lively At the same time a disastrous
furry occurred I'm the money market and
gold was being shipped ont Of the country
at the rate Of a million dollars day.
The Presidents message OF year ago
compelled diplomatic negotiations that
have been in progress ever since, ana
which fortunately have resulted in bet
ter understanding between the most
powerful Enrlish-speaking nations.
The action taken by the Senate Com
nittee to-day has been anticipated for
long time. and instead OF Immediately
committing the United States TO a policy.
eimplv furnishes tho text for q debate
that may prove 20 be interminable j
IS a fOregone conclusion that unless there
IS radical change I'm the Cuban situa-
tion. the President VIII veto Senator
Cameron's resolutions, should they ever
reach him.
MERCHANDISE. NOT GOLD
Il is TO be noted in contrast with the
general situation Of a year ago that
the money market now iq almost ahnor-
mally easy though 1t naturally showed
q little frmnoes to-day. that merchandise
instead OF gold SIS being exported in large
quantities and that London instead Of
drawing money from this centre is
heavy borrower here.
The prospects of shipments OF gold on
Tuesday are stin doubtful and the
chances are that tho matter viii not be
definitely settled until Monday. The ac-
cumulaflon Of gold IN the clearing house
vaults continues The amount on deposit
and for which clearing house certificates
have been issued s. now. 'i50009o being
an increase since the presidential election
~ si- 10000 AS the capacity Of the clear
ing house vaults is sio0 10000 80 would
appear that Secretary Cariielo's decision
not to resume the issue of sold certih-
Gates can have very little interest for the
city banks so far as warahousing their
accumulations Of gold SIS concerned
SPANISH PRESS INDiiN t>r.
MADRID Dec. 1e.-tn the newspapers
here express the most intense lnlieua-
tiou because Cf tho unw4rr1rfrd inferfer-
cnce Of the United States with The ri-hts
Of Spain Some ~ them declare that
no gov srnmcnt would dare ~ Base n ert-
tement Of the Cuban question on grant
ING autonomy 20 the island in view Of
the strong popular opposition 20 the
granting Of any reforms while the rebel
lion is in progress They therefore cone
tend that tho Government WIFI be com-
PEELED o. maintain q determined attitude
En- the face Of the prOvOcoti0n from the
states Nevertheless they add.
the Government IS resolved 70 rcprcss
hostile agitation against the Unite.
or its representatives in Spain.