New-York tribune., 1896-12-27
THE NEWS IN LONDON.
A PEACEFUL HOLIDAY SEASON Foh
ENGLAND.
THE OUTLOOK FOR REFORMS IN TrRHEY-MoRS
BIMETAII.rsT AGITATION-"TlIE ECONOMIST
on STOCK WATERING-cHRIsTMA TIPS
AND CHRISTMAS ENTERTAINMENTS.
rBY CABLE TO THE TRfBUNE1
rBY CABLE TO THE TRrBUNEl

on STOCK wATERING-cHRIsTMAs TIPS
AND CHRISTMAS ENTERTAINMENTS.
rBY CABLE TO THE rRrpuNE.l
London. Dec 26-Good digestion has waited
on appetite for the English Christmas dinner.
Last years war alarms and startling surprises
have been followed by piping times Of peace.
The Venezuela question is virtually settled
general treaty Of arbitration with America is in
advanced stage Of preparation. every cloud
has disar rpcared from the Western sky South
Africa is no longer fermcnting with unrest.
England has not been admitted 10 the Dual A.
lance but her relations with hoii Russia and
France are better than for many years. The
Sultan is still unpunished. bur the European
concert has been re-establishod. and the out
look for administrative reforms In his domn-
ions is more encouraging than n has been for
three years What has been accomplished by the
diplomatic phrasemakers IN Constantinople -
not known with precision. They have not agreed
upon any definite reform measures which are
to he demanded. much less upon any material
guarantees which are 10 bc required for the
execution Of their policy. Austria H. suspected
of Jealousy and Germany Of Indifference. and
any scheme Of coercion is still bcset with df-
fculty still the European Powers under the
leader hip If Russia and France. and with Eng
act together and to accomplish something. That
Is a great gain.
The first beneficial result Is tho Suitan'- decree
Of absolute amnesty to the Armenian rrop'.
Hitherto he has refused 10 DO this. on the ground
that it would excite a revolt among his Mussul-
man subjects Now that h. has signed the de-
cree he seeks to Justify his former fears by
arresting scores Of military officers and either
condemnng them to death or eXilng them on In
formation supplied by spies. Constantinope rs-
mains under reign of terrorism. anu tn'i" are
alarming reports from Macedonia and Asia
Minor Thc Ambassadors have barely begun
their work. and pretexts are not lacking for
discontinuing it: but unless an signs fil. they
arc at last in earnest. and something viii speeds
ily be- done to put IN end To government by
systematizcd assassination in thc Puui" East.
The financial situation has been also brighten
ing on the eye OF the holidays. tn" demand Tor
gold from Germany has temporarily ceased ana
there is "A general belief that money "il b.
cheaper when the opening Of the now year re-
leases dividends and thereby cue.ulas.- lnN'st-
ment The return Of sold from America would
greatly ease the money market. hut TINS result
is not anticipated for several months. The con-
ditions Of Indian exchange r'na'f Il possible
that gold ma, ba exported 20 Bombay and CAL
that this viii Doc serious drain They admit
that tho cotton and ricc crops are sfiil 20 bs
moved. and that the financial sfrire ncy Is al
ready abnormal. with an" discount rates II
banks at 10 per cent. bur the, are confident that
the difficulties of the situation can he overcom:
through the manipulation Of Indian exchange
bv London bankers The h'mctallists. on the
other hand assert that the resumption oi silver
coinage in the Indian mints is necessary. since
the value of money is constantly increasing, and
also that the financial emharrassments caused
by the famine are opening the way for a new IL
ternational conference if the American Govern
ment be- willing 10 propose a definite basis ~
action by sugp sting ratio between gold and
silver.
The Improvement in tn financial situation
docs not forcstall outbreaks of pessu am which
are out of accord with the humor Of the holiday
season The StatiSt whose EDITOR has ir-
Gently been in America. affect. serious alarm
over the prospect o. war between the United
states and Spain and suggests that England
shall offer its good offices in rrcv,uung such -
catastrophe This apprehension is shared ~
few London editors. the prevailing view being
expressed 10y "The Spectator" when II says that
while Washington politicians are fond OF piay-
in, with fire the calmcr heads ~ the Natiol
IL sually manage To- arrest any c0niiagrafon Ny
the free use of wet blankets The Economist"
takes advantage Of the closing week ~ the y,4r
To- read English railway managrrs a sharp lcCt-
urc on stook-watering II contends that 20
time has come when Parliament ought 10 insist
upon railway corporations showing .n thcir
semi-annual reports the extent To which their
capital is represented 9y paper 1, asserts that
the great English railways have watcfed their
capital by versions. consultations and dup.-
cations until the exact facts can hr ascCrtainei
only by considerable labor. and that this system
has been abused in order 10 enable them 10 keep
up rates and fares and prevent 'he construction
Of competing lines This indictment against the
chief English railways is undoubtedly we'll
founded. whatever may De- the practice oe
American corporations. against which English
critics are never weary of inyeighng
The dunoss Of English politics has been iliumi.
mated by a gleam OF humor. II * announced
that Nir Tim" Healy and Colonel sauuderson
will be- allies in the now agitation Tor seourins
financial reparation for oyertaNed Ireland IA
thes. leaders have been bitter antagonists Tor
long period and accustomed 90 dcnounoo each
other with all the resources o. fun vocabulary.
their appearance a. allies will boz a grotcsqus
illustration Of the old saw that politics makes
strange bedfelows The fact that Ireland
PAYS more than its share of the taxation OK the
United Kingdom is indisputable, but that 10
easily explained. The island contains more than
it's proportion of whiskey consumers. ana hence
contributes an undue share Of whiskey revenue
to the Sasscnach treasury. The Daily Ncws'
kindly suggests = remedy which the Conserv-
ative Government can adopt. IL is 90 raise the
beer duty SHARPLY and thereby restore quality
in taxable capacity between Saxon and cet.
Ministers rot likely 10 put an extra duty IN
beer; the brewers were on their sid" IN the last
election and insratitude is glaring vice IN
politics.
This has been soft Christmas with halmy