The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-02-13

At Brown Shipley & Co.'s represent
| alive of the firm said: II have had some
! orders from customers but nothing in
proportion to the former loan"
The secretary of the bimetallic league
remarked:
Il am not inclined to see simply gold
issue in the wonderful manner in which
the loan was subscribed. 1t seems to.
have come from general sources and do
not believe the subscribers are among
the silver men. l regard it as entirely
a gold loan"
The Economist today comments at
length upon the loan and says:
There has been great deal too muc[e
fuss about the fact that it was sub
scribed for six times over. This is.
spoken of as evidence of the financial
strength of the country and the conf
dence of the people in the maintenance
one nor the other. The fact is that the.
main inducement to subscribe has been
the hope and expectancy of being able
to sell at profit the bonds for which,
applications have been obtained. The
effect the loan is likely to produce or
the treasury is also exaggerated. 1t is
very probable that this gold would be.
accumulated to pay the first couple of
installments, but it is more than likely
that the treasury itself will be called
upon to furnish portion of the gold for
further payments, even if the full amount
of the loan is cashed in gold by the treas
ury, what likelihood is there of its being
retained there? What President Cleve-
land has described as the endless chain,
which empties the treasury reserve al
most as fast as it is reflled. continues
and will continue until the legislature,
is persuaded to pass a measure to reforml
the currency on n sound basis. There.
is no present prospect of it and the mere,
issue of a loan has altered nothing and.
improved nothing. 1t can, at best, be
only temporary respite, and it is ut
terly fallacious to regard it as inaugural
ing new era of confidence and activity
The speaker also warns investors, say
ing that the success of the loan does not
in the least improve the position of the
United States, but it admits it shows the.
party of sound finances is unquestionably,
strong.
1t has been stated by the Associated
Press that there was n strong timetable
representation in the next parliament.
The committee now numbers 125 menu
bers and is much stronger than ever be-
fore. The bimetallic union, it is said
will certainly come before parliament
during the month of March,
Howard Vincent. Nj. p, secretary Of
the United Empire Trade league. has
sent memorial to the Marquis of Sails
bury. asking that steps be taken to OBJ
tain. the release from the articles of
foreign treaties which preclude prefer
entail treatment of British goods in the.
colonies. He dwelt upon the fact that
recent events have shown that Great
Britain must look to the resources of the,
empire, including wheat and -four which,
would be withheld by her foreign rivals,
in time of war. 1t is rumored that at
tempts are being made to corner the cot
ton trade of 1896. 1t is expected that
the partial abolition of the duties on cot
ton in India will give Il stimulus to-
trade.
The trade returns for January show am
increase OF to,5n ,1o6 over January. 1895.
All departments took part in the in
crease except raw cotton. in which there
was decrease in the imports of over
f1,O00,000. The chief increases were in,
textiles and metals.
The cabinet proceeded to Osborne to-
day for the approval and signing of the 81
queens speech.
But little editorial notice has becw
taken of the speech which the Irnited
States ambassador, Mr.. Bayard. made on
Thursday evening last at the annual din
ner of st. James foundation school nj
the Hotel Metropole. The st. James Ga
MCCOY ''''N'Ni' iNhiNlh'u.
whatever his own people may think
OF Mr. Bayard Englishmen will cordially
recognize the splendid way in which he,
is working, heart and soul for the GOOD,
relations between the two nations. I'm
fortunately we feel that the better he.
speaks of England, the worse do many of
his countrymen think of him and u.s.
Vanity Fair supports the attitude of
the st. James. Gazette towards Dunra-
ven and says:
Lord Dunraven made charges he was,
unable to prove and he ought to climb
down. The New York Yacht club has
been very kind to him. giving him every
chance OF retreating from false posi-
ton and it now remains for Lord Dun
raven to show the kind of a man he is
WY the Americans make so much of
what is really little more than a man-to--
man dispute is incomprehensibIc. 1t
really seems that the great American ma
fi0n, like the American citizen. in too,
ready to take offense. The New York
Yacht club has no doubt shown Lord
Dunraven an example, but it has shown
IN example in moderation to the whole.
Of the United States"
According to n statement already pub
ished the coming naval program will
involve the outlay of SAT 100000 and wiih
'ioNit iol tHt DullulllS VI IDuE lTUI1
'lads, four irst-class cruisers. six third
class cruisers and sixty torpedo destroy
,rs, the latter to have n speed of from
30 to SO knots. 5a}
The battleships are to be similar to-
he RenOwn, but are to have more beam
md are to be longer. The Renown is of
2,35l tons displacement. She carries 4
lO-inch. 29-ton guns, 20 6-inch quick
irers, 8 12-lb quick irers and II 3-Ihv
luick firers. She has a number of tor
,edO tubes and has an estimated speed
If Is knots.
1t was stated today that, contrary to-
previous reports. Sir John MilIais has
greed to accept the presidency of tire
Royal academy until the end of the year
md that Val Princep, who has been,
ooked upon as the successor of Lord
leighton, may then succeed Sir John
1ilais. The change of plans is said to-
Ne due to the fact that the throat affec-
ion from which Sir John has been suf-
ering now shows improvement enough
o justify him in assuming the presden-
y.
Advices from Biaritz say that Mr.
Gladstone has been enjoying perfect
lealth. He goes to Cannes on Monday
Ir. Gladstone has been engaged daily in
literary work
1t is stated in some of the newspapers
hat in the event of the death of the