New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-28
THE NEWS OF EUROPE.
EFFECTS OF THE CUYUNI AFFAIR PACIFIC
RATHER THAN DISTURBING.
THE NEED OF ARBITRATION IN THE vENEzUD.
Ian DIFFICULTY ENFORCED BY Ir-sPAINs
DESPERATE STRAITS OVER HER CUBAN
wAR-THE SALISBURY GOVERN
MENTs SLOW PRoGREss-ENG-
LIsH CRITICS CHANGE THEIR
MINDS ABOUT YALE.


LIsH CRITICS CHANGE THEIR
MINDS ABOUT YALE.
[sY rRIBuNEI
London June 27.-The general effect Of the new
Cuyun affair is pacific rather than disturbing.
because 1t demonstrates the urgent necessity
for settlement OF the boundary dispute BY
arbitration. The details Of the arrest of Harr-
son are not known here with precision, but the
collision of the Guiana road makers and the
Venezuela police Is discussed by the press with
caution and moderation, and further delay In
conducting negotiations with the United States
Is deprecated. The aggressive action OF the
Venezuela police serves to emphasize the dam
gerous tendencies Of torpid diplomacy The fact
that irresponsible police officials can provoke .
petty conflict disputed border which may
bring two branches of the Anglo Saxon family
within measurable distance OF fratricidal war
is regarded as the strongest possible argument
for a speedy adjustment Of the entire contro-
versy Whoever is at fault in the Cuyun dis
trict, the incident imparts a new impulse to the
movement for permanent arbitration tribunal.
Reports received from Washington OF the fav-
orabe state of the negotiations this subject
are considered here to be premature and unduly
sanguine but the two Governments con-
ticaI solution. Perhaps the strongest ground for
faith in the ultimate success OF arbitration is tho
record of the continuous failure of the Salisbury
Government in the conduct Of foreign affairs.
Since they have been unsuccessful everywhere
else that Government will naturally be anxious
to retrieve their blunders by great stroke at
WASHINGTON. The organization OF a permanent
arbitration tribunal would he a diplomatic trt-
umph of the first order which would blot Ar
men!a out of remembrance 1t would be re-
ceived with intense satisfaction by the English
people The opinion Is gaining ground among
well-informed dpomatists that this result will
be brought about before Mr.. Cleveland leaves
office and that the Cuyuni affair is Fastening
rather than retardng 1t.
The good Offices of the American Government
in securing the prompt release Of Harrison. are
frankly acknowledged by the London journals
to-day. and Lord Salisbury is praised for his
good sense and tact in refraining from making
a direct peremptory demand upon Venezuela
American securities have been stifened since
McKiney's nomination on a sound-money plat
form. but there has been no marked reaction
from the stagnaton and depression or the last
six months. European holders Of American
bonds are less anxious to sell than they were
The result has disappointed houses dealing in
American stocks but it can easily be expained:
While the Republican platform is satisfactory
from, the investors point Of view, the increasing
strength of the silverites in the Democratic Con-
vention excites appl ehension. The details OF
American politics are not understood here. ana
the attitude of the Democratic party on the cur
rency question causes uncertainty and uneasi-
ness prominent banker, interested in Amer1-
can securities remarks:"What hope for Is the
adoption of a silver platform by the Democratic
Convention II will force the currency issue
upon the country, and lead to settlement whicn
Will restore the National credit. That VIII be
better result than the adoption OF a compromise
bimetarism plank at Chicago, which can only
serve to cloud this great issue OF running exist
ing contracts and paying bonds and greenoacKs
in cold. A straight fight between gold and sill
yer. with the victory for honest currency, VIII
set us right before the world. The settlement OF
the Venezuela question ard the creation OF
permanent arbitration tribunal would also have
a most favorable effect upon American securi-
ties"
Euronean investors while the fight was going
on would naturally be alarmed by the adoption
of a radical silver platform, and they would not
he reassured by any transparent compromise OK
shuff,ing phrases and evasons The Democracy
now az often before. is plotting against the pub
lie credit and impairing the National financial
prestige abroad.
The Spanish Budget reveals the desperate
straits to which the bankrupt treasury Is reduced
The tobacco monopoly is renewed for twenty-four
wears The Rothschilds are making a new loan
upon the security of an extended lease OF tho
Almaden quicksilver mines, and shpowners nave
offered TO submit to an eXtortionate naVlga-
,,on tax for six years Maturing loans will be
met by fresh borrowing at eXtortlonate rates, ana
tho Finance Minister considers the prospects Of
the bankrupt Government hopeful Experts Ike
1.-The Economist" are not deceived by these de-
vices of an embarrassed Government. They per-
ceive that no provision is made in the Budget for
the cost Of the Cuban and that within three
months the resources derived from pledgng the
! ner cent Cuban bonds will be exhausted. The
war expenses have been met so far from this
source. and when the bonds are all issued and
pledged the Treasury will be in a desperate con-
ditlon if the war be prolonged.
The Salisbury Government have lightened ship
BY throwing overheard a large part or the cargo,
blt are still sailing under bare poles and making
little progress The Rating bill will probably be
pa1sed under closure next week Fourteen days
have alre ady been occupied with the discussion
OF this short and simple measure. The custom
has been to reserve the report stage for the cor
rec,ion of errors In drafting and fof amendments
already agreed upon; but this measure. aiter
passing Committee in an all-night session before
the recess has been taken up afresh ana deoa'ed
and obstructed with all the resources of the OPP
position. The abandonment Of the Education Dill
renders 1t possible for the Government to carry
several minor measures and arrange COM
promise by which the Irish Land bill may DE en-
acted.
The Liberals are in triumphant mood after
,ho,. .,ooos. In hi,clfny the Fducaton bill and