New-York tribune., 1896-11-29

wel-inforrned observers here 10 predict the pro-
Ionratlon OF the struggle to an indefinite perioo
and even to hazard the conjecture tnat IL '''c
worst comes to the worst Spain VIII declare "a'
on the United States In order to escape the re-
nroach of being vanquished by the insurgents
Defeat in a larger contest would not 'n'perh '"e
Spanish throne whereas the abanconmen' Oh 'ie
island to insurgents who cannot be huh'ed oo""
like foxes In the forest would open the way ior
q Carlist uprising the re-establishment OF re-
publican institutions.
The Eastern question In it's present aspect Is
mainly a financial issue, since Europe is not
swaved by humane instincts by the interests
OF morality and civilization. The greater portion
OF the Ottoman debt amounting 10 SGOOUOO,OUo.
IS held by French syndcates. and there has been
strong support from Paris for proposals for float
,nr q fresh loan Of 500 600 600, based upon illu-
sory measures Of internal reform administered
Nv European agents. Russia has vetoed TINS pian'
but the French Government is attempting 10
revise the scheme by presenting an alternative
with q few notifications The Sultan is anxious
to borrow money wherever 1t is possible and Is
willing to issue every week a new series or prom
ises which ne has no intention of redeemins. inc
Car seems inclined to hasten Turkish bank
ruptcy in order to facilitate the final absorption
OF the Sultan's dominions Russian depend
ency.
English Journals magnify the Importance OF
the surface indications that the Dual Alliance
has been weakened by these financia! Disagree
ments II is probable that some compromise VIII
be adopted: certainly NJ. Hanotaux Is not pre-
pared to forget Egypt and throw himself mead
long into an English alliance which would he un-
popular in France That policy would be fatuous
when General Billo,. Minister OF War; is
forced To confess that the French Army is defnor-
allied by the rule OF satreps and that one
half the rank and file. owing to unnecessary eX-
emptions serve only single year and are in
adequately trained.
Questions connected with American finance
are languidly and unintelligently discussed by
the English press. The Economist to-day eX-
presses the hope that the Republican party VIII
realize that the mandate 1t has received from the
country was for sound money first and tarir
revision afterward. This leaves out OF sight the
central fact that President Clevelands Admin
istration has been negotiating loans ostensbly
for the protection of the gold reserve. but In
reality to make good deficiencies of revenues
under the Wilson tariff with its unconsttu-
tonal ncome-tax and that the first duty which
recognize under the same circumstances would
be the obligation to supply the Treasury with an
income equal tc IT'S current expenditures. Eng
lsh Journals do not attempt to formulate any
precise scheme of financial reform for America,
although they naturally recoil from any increase
Of protective duties. The finanCiers Of Lombard
Street lay stress upon one measure which would
greatly increase European confidence in the
ability Of the American Government to MAIN
tain gold payments In any monetary crisis. This
Is an amendmen. 20 the resumption practice, so
as to compel the cancellation of paper when it
has once been redeemed. So long the green
backs which have been redeemed allowed TO
return into general circulation European bank
ers and investors will be suspicious that the
sumption policy may b. imperi,led under stress
Of financial crisis The passage of statute
compelling the Treasury to destroy paper which
Is redeemed would be regarded by financial ex-
perts in Europe as common-sense expedent
for safeguarding the resumption policy.
Woodstock and Blenheim have been brill
tant with bunting and floral decorations.
and royalty has been received with
wonted pomp and splondor. Seldom have
the Prince and Princess Of Wales paid
long visit TO any country house. With
good shooting drives to oxford. tree planting in
the park, torchlight professions, fireworks on
grand scale and big concert to which the
whole county invited the royal visit to
the Duke of Marlborough and lis American
Duchess has been a memorable one. brilliant
company was there to meet the royal guests. in
Guiding many titled persorages and Mr.. Arthur
j. Balfour, Mr. George CurZon and his beauti-
full American wife. Jenkins also in
vited. IL one may judge from the rhetorical
ecstaces OF appreciation into which he has fallen
from the excess of his emotion.
The Princess Louise and the Marquis Of Lorne
have been visiting Knowsley. and there have
been large house parties at Chatsworth. Range
more Worth and other country houses. There
are few private entertainments in London, but
many theatre parties. There has been ono fash
ionabe wedding this week at ST. Pauls.
Kpightsbridge Major Charles Harbord, the
future Lord Suffield marrying Miss Evelyn
Wilson Patten. Lady Hcadforts daughter. The
tride was dressed with extreme simplicity in
white satin and had zen bridesmaids in white
with red sashcs and red hats
The managers Of the American Society de-
serve credit for the luxurious dinner on
Thanksgiving night in the great hall Of the
Hotel Cecil. 1t was attended by over 600 guests.
who enjoyed everything except the speaking.
This was dull. Sir Frank Lockwood being weary
from the long session Of the Russell libel case.
and Sir Richard Webster not in his happiest
mood. Mr.. Robert Barr made the iiveliest Of
the American speeches. but the intellectual