New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-19

BlT IL ffrAklS PRESENT Al
NOT INsUPERABLE-DEcL.ARATI FOR
MKINIEY-ANoTHER AMERICAN BOND
ISSUE PREDIcTED-THE WEDDING
OF PRINCESS MAUD-AMERrcAN
VISITORS IN ENGLAND.
fBY CABLE TO THE TRrBuNEl
London, July 1s.-The most surprising thing
In Lord Salisbury's unexpected speech OF sur
prses is his desire to consult English public
opinion on diplomatic question. He seldom
makes any concession 10 the democratic spirit
OF his own country. and is a diplon a tist OF the
old school, who prefers the innermost dark
closet TO glass house. where every one can
see what Is going He now abruptly declares
that he wishes 10 know the trend OF public opin-
lon and derive guidance from It respecting the
future conduct OF negotiations with the United
states His attitude Is so novel that every Jour-
nal is instnctively on it's guard. and discusses
with caution and circumspection the diplomatic
correspondence printed this morning No posi-
tive opinion is expressed by any responsible
journal, and the magnitude of the interests In.
Volved and the practical difficulty OF solving the
complex question of a permanent arbitration
scheme are generally recognized Lord Salisbr<,
has evidently fretted under the imputation that
he was not moving with sufficient rapidity In
the direction OF reconcng the two branches
Of the Anglo-Saxon family. He now justinS
himself by taking the Nation into his confidence
and showing plainly that arbitration is not Q
simple sum in arithmetic. to be worked out at
a moments notice. The press. speaking for the
Nation frankly admits that ample time must
be allowed for reflection. and that premature
judgments must be avoided
Lord Salisbury's speech is remarkable for its
moderation and conciliatory tone and this re-
fleets the spirit with which he has conducted the
negotiations since December as is shown by the
correspondence. The aggressive tone which
characterized his long reply 10 Secretary Olney
last autumn has disappeared He longer
evinces a disposition TO score points in diplo-
matte poemics. but appears to great advantage
as a cautious statesman anxious to settle all
questions with America in amcable spirit but
conscious, withal. Of the momentous Importance
of the imperial interests involved and the in
herent difficulty OF arranging a permanent arbi-
tration scheme AS the correspondence shows
conciusively, he began by waving points with
dignity and consentng to negotiate with the
United States friend Of Venezuela and con-
tinued his policy Of concation by avoiding the
raising OF difficulties over the appointment Of
an American Commission. and he then took the
initiative In proposing broad scheme OF per-
manent arbitration. He naturally discussed Il
as tentative policy. and was unwilling 10 make
1t final In its operation universal in its appli-
cation. and here the block has arisen Mr. Olney
insisting upon having a practical. working
scheme rather than a farce which would readily
be played out. Meanwhile Mr.. Oney has re.
tected both of Lord Saisburys proposals for the
settlement of the frontier dispute and the consti-
tuition OF a general arbitration tribunal but
every one perceives that the end is not yet
reached, and that the negotiations going on
in most amicable spirit. with a bright prospect
OF ultimate success
What is evident To the duliest observer is the
fact that while the two Governments have not
yet reached a common basis of action they have
made closer approach to it than those outside
the Foreign Office and State Department had
ventured to consider possible. and that they are
divided not much by differences Of principles
as by methods Of applying them The hitch over
the local Venezuela settlement hangs upon the
settled district as pivot. but this difficulty may
be overcome by some arrangement respecting
the compensation for settlers rights and dam.
ages. The hitch over the permanent arbitration
court centres in the fnaty of the award and
the avoidance Of an appeal, which would requira
practical unanimity; but these are differences
of degree rather than Of principle. and are not
incapable Of adjustment when Lord Salisbury
becomes less tmid and Mr. Olney more fex-
lille.
While to-day's journals unusually cautious
in dealing with this great controversy. every
Enelishman with whom have talked has
Pressed the opinion in positive terms that a set
tlement of both questions will be effected before
many months. Lord Salisbury has appealed to
English public opinion but that has been setting
,.ri,. l-,.I III
lea during the last six months. Royalty set the
fashion last week IN receiving the Boston Ar
terymen with extraordinary cordiality and
distinction. and that opens way for general
acceptance Of a policy of conciliaton based upon
the arbitration OF all questions not involving
National honor and territorial integrity Of either
side.
American politics continues to confuse and be.
wilder English observers. who are generally
ceasng TO attempt to understand them. and are
awaiting with anxiety the November electionA
have heard street rumors that English manu-
facturers are talking of raising campaign fund
for aiding the election Of Bryan. but cannot
trace them to any responsible source. and do not
believe them. London financial opinion controls
England. and that is not the side OF American
repudiationists. Mckinley is not popular in Eng
American interests. but on question OF com.
non honesty downright the Eighth COM
mandment the moral sense OF this country re.
volts against the Democratic idea OF forcing the
creditor TO take ten shngs every pound Of
debt
American securities are depressed by the Pop.
ulistic conspiracy against the National credit.
and hnanciers are forecasting an outflow OF gold
from the United States during the next few
months as a result OF the political uncertainty.
The Economist says to-day that new loan
may soon have 70 be issued with the certainty