New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-05
MIXED ABOUT THE DEFICIT.
ENGLAND LAYS 1T TO THE DINGLEY
LAW. AND FORGETs THE WILL
SON TARIFF
DIsQUIETING FINANCIAL AND INDUSTRIAL CON-
DTTIoNs TO OCCUPY ENGLISH ExPERrs-
THE INDIAN EXcHEQUER. RUIN OF THE
WEST INDIES AND LABOR TROUBLES
IN ENGLAND-GERMANY's VAST
NAVAL scHEME-DREYFUs

IN ENGLAND-GERMANY's VAST
NAVAL scHEME-DREYFUs
AND EsrERHAzY.
icy CABLE TO THE TRIBUNEl
London. Dec. 4.-Englsh concern over the
failure Of the Dingley tariff to fill the American
Treasury in five months is really touching. I
contrasts strongly with the lack Of interest dis
played when the Wilson tariff, which marked
the closest approach to the English system made
for long generation in America. emptied the
Treasury increased the National debt and inn
poverished the country. English journals then
passed lightly over the disastrous results OF q.
low tariff policy. by which the currency system
was disOrdered and American credit seriously
Impaired abroad. Now they proclaim the COM
plete failure of the Dingley tariff as a revenue
measure and enlarge upon the folly Of American
nhanciers In supposing that they can prohibit
Imports by protective tariff and reasonably ex-
pect to draw immense revenues from them. APP
parently they have never heard OF the marvel
lous achievements in debt-paying from 1868 to
1913 under genuine protective system with Inn
mense surplus revenues. They are in hot haste
to condemn the Dngley tariff as a failure before
II Is fairly In operation although their own trade
returns for the first half year disclose the extent
to which the new schedules forestalled by
exports to America Of wool. woollens and other
manufactures. They do not pause to consider
that FIVE months may be short period for COM
plete recovery from the ca!amitous consequences
OF the abandonment under Cleveland OF charac-
teristic American policies to which all industrial
interests were adjusted.
Instead OF inveighing against English crti-
cism the Washington legislators ought to profit
by 1t in one respect. This is the urgent neces-
sity Of some action in favor Of currency reform.
The passage Of an act requiring the Treasury
to cancel notes when redeemed would be regard
ed throughout Europe as the strongest possible
safeguard OF the resumption policy. II nothing
Else were done, this would convince English
fnanciers and European investors that a long
step had been taken in the right direction The
endess-chain argument applies equally to the
single and double standard. Another silver COM
mission in reopening the monetary negotiations
with Europe would be greatly aided by the
adoption Of a practical resumption safeguard
which is considered indispensable in France and
Germany. well as in England. for the success
full operation Of any currency system
The English financial experts. despite their
academic homilies on American affairs. have rea-
son to be fully preoccupied with the perplexities
of their own problems. The military situation on
the Afghan frontier Is gradually clearing. but
the Indian excheQuer Is in a state OF hopeless
confusion. The same officials who rejected the
| overtures Of the United States and France for
| international action are exhausting their bor-
rowing resources and drifting aimlessly Lord
Pirbright discusses In The National Review"
the ruin Of the West Indies with singular lucid
ity supporting Sir Henry Normans proposals
for countervang sugar duties the only ef-
fective remedy. The problem In that quarter of
the Empire Is a simple one: Shall the Free Trade
dogma remain inviolate even II the colonies be
| allowed to perish? To turn against loyal colo-
MES at the close Of the Jubilee year would be lit
tie less than treason. but to raise the price Of
| Jam and marmalade Is a crime against the Eng
lish breakfast table and rank economic heresy.
| Industrial controversies are Increasing in Bit
terness and causing general uneasiness. Masters
and men are still comforting in the engineering
trade. and there is a lack Of fexibillty on the
part Of the employers which creates intense irrt-
tation in the working world. The most remark
| able feature OF this discussion is the large use
made Of American competition by the employers
| az a means of justifying their demands for the
retention Of full control the machine shops.
| II seems to he generally admitted that the Eng
| iish iron trade has more to dread from the COM
| netition OF superior, well-paid American labor
| than from any other source. THE Times to-
| day comments upon the fact that orders for two
| hundred locomotives have been placed In tho
| United States within six months for foreign ac-
| count The conference has not ended. but is
| temporarily adjourned TO enable the Amalga-
mated Society to submit the employers uiti-
matum TO the vote Of the trades-unions OF the
engineering trade. II 1t he accepted, the masters
will have a complete victory. for they do not con.
cede the eight-hour day. but provide for abso-
lutte control over their own business.
The situation in the Lancashire cotton trade
still continues menacing. the employers pro-
posals for a conference the reduction Of wages
| having been disapproved by a majority Of the
organized workers. and there is also a serious
prospect OF a general strike OF the railway SER
| wants during the Christmas holidays The prin.
cipal railway companies have agreed to assist
| one another in carrying on their trafnc II the
| strike be ordered. and seem determined not to
accept any general programme providing for uni
| formity OF pay or conditions Of service. Nearly
| one hundred and fifty thousand strike notices
have been sent out by the Amalgamated Society
OF Railway Servants. but public outcry against
the suspension OF traffic at Christmas time
| NAV bring the officials and trades union leaders
70 their senses. The railway officials have re-
| fused to negotiate WIN t"e au'"oNe" 'ep'V
| sentatives Of the Amalgamated Society. but they
will probably be compelled by public opinion to
waive so dangerous point OF dignity. The
| Amalgamated Society has appealed TO the Board
Of Trade for intervention, but the attitude Of the
railway companies is unconcil.atory Railway
| hours in England are too long. and this griev-
| ance ought TO be discussed Industrial prosperity
| is seriously clouded by all these labor contro.
| versies.
The new naval programme OF the German
Government attracts more attention in England
than anywhere else. 1t is dismissed by some
| journals with cynical indifference as policy
which does not concern England. although Il
may compel the Admiralty to order another
strong squadron. Other journals point to France
and Russia as Powers really interested. and pre-
dict that they will be compelled to increase their