New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-12
he week. and the demand for gold from Russia
md Egypt has continued. Bank officials are De-

ieved to be helping the lndian treasury /" 10
ssue Of bills by delaying the increase OF the rate
and they are taking effective measures for IN
creasing their control over the market. AS soon
as there are signs of an impending withdrawal
Of gold for America the rate will ne raised.
The correspondent Of "The Times blurts out
q secret to-day, which Senator Wolcott and MS
colleagues knew when in London, namely, that
the directors of the Bank OF England in re-
spouse to pressure from the Government nave
agreed to consider the expedlency OF ho'o"'s
one-nfth Of the banks reserve In silver as Sc
curity for notes issued. This concession "
coupled with an assurance that the ihuiah
minis would he rcopened might lead to the re-
assembling of Monetary Conference. |oh-
servative men In the street assert that the an
nouncement OF the Intention OF the directors IS
premature. and that no action VIII be taken III
the direction of bimc.allism Members OF the
Government certainly have not yet made up
their minds on the question OF bimeiaiiish' anu
will not do so until October.
The activity in American securities continues
IN spite OF the warnings Of The Economist" and
other financial journals that prudence must be
exercised in view of the iniauities OF railway
management and the uncertainties Of American
finance Some leading performers in the kanlr
circus. bored with the continued dulress OF 'heT
own show are operating in American securities
for speculative purposes. but there are no trust
worthy signs that English investors have over
come their prejudice against them. AS prices
advance there is a steady selling movement ana
the balance OF trade caused by the imports OF
wheat at exceptionally high prices VIII lheVi-
tabiy be met to n large extent by the return OF
American securities.
The wheat market continues In a state Of great
excitement. and the masses are wondering "ha'
price the bakers will choose TO ask TOT preao pe-
fore the winter Is over With better weather this
week than last the farmers throughout the uni
ted Kingdom are harvesting safely what IS lor
them this year a golden crop. the statlsuclahs
are already figuring on an increase OF -"o'ooo
acres in wheat end fair yield everywhere Inc
effect OF high prices will inevitably ne 20 pris
large additional acreage under iiliase LOT W"e"'
next year While agriculture is looRinS up ai'e'
a long period of depression under Tree trace Ill
dustries are looking down The Lancashire COZ
ton trade "a suffering from overproduction and
the decline in trade with India. and n'ahuiac'u'-
ers are holding consultations in regard TO 'he
necessity Of reducing the output by concerted
action and lowering wages. An early CRISIS III
that trade with reduction OF employment see'ns
inevitable.
tn. ,h,rtieth annua, Trades Union Congress
n.s met IN Birmingham. while the great en-
,,neerinr strike is in progress. ostensibiy TOT
an s,eht-hour working day. and its debates
have seemed empty and trivial in comparison
NTH that monentous struggle, In which one OF
the strongest unions is engaged. with faint hopes
~ ultimate success, i'm a desperate campaign
AGAINST a powerful combination OF employers
The congress has passed a resolution OF sym
pathy with the engineers and condemned the
,o.routs as declaration OF war on trades
unionism
nu, the forces Of the labor world have evil
IDENTIFY passed out Of the control OF the depa'ers
IN the congress. especially since man! OF 'he
most influential leaders. like Burns and har-
ole are excluded from the sessions rms propa-
bly explains the violence of the language useo
nv some of the delegates, and also the adop-
ton without much dissent Of the diluted reso
,ution IN favo- of the naturalization of land
ard Industrial resources. There Is a preVailitg
,mnress,on that good times have passed Eng
land and that the pendulum Is beginning to
swing in the opposite direction. The great col
lapse in the cycle trade. in which shares once
commanding a high premium are now quoted
at a discount would be ar unerrng sign or
impending depression If the business had not
moters and spectators
The return Of the Duke and Duchess OF York
from Ireland 10 Scotland Is followed by the
revival Of the rumor that permanent royal
residence in Ireland is under contemplation
1t is probably premature. but successful royal
Progress might we'll lead 10 permanent resi-
dence Of the Duke Of Connaught in Ireland,
especially II he be weary of his military func-
lions 1t would be a great stroke of State poll
tics.
English royalty has been engaged in Copen-
hagen and elsewhere during the week. and has
been unrepresented at Doncaster. Fryston
Hall Duncombe Park. Hickletcn Hall. Tranby
Croft and all the great houses near Doncaster
have been crowded with wealth and fashion
The Grand duke Michael has come from Russia
10 visit f. W. Beckett at Krkstall Grange
and has been entertained with racing. shooting
and golf Grouse and partridge shooting is at
its height in Scotland and the North Of Eng
land.
One OF the chief subjects for gossip in the
country houses Is romance Of the peerage by
which a naval cadet. after shipping as COM
mon sailor serving as a fire laddie in London
mining In Ch .shire and roaming in South
Africa. has become. after life. of adventure
Earl Of Egmont.
The literary world sustains great loss In
the death of Mr. Hutton. the Editor Of The
Spectator" whose health had been falling since
June He was rarely seen in social London
although he sometimes entertained his init
mate friends ct his club. but the influence OF
his liberal mind and the lucdty Of his style
were strongly felt in English Journalism
The theatrica, season has been opened with
new play at the Adelphi. by Haddon Chambers
and Comyns Carr, I'm the Days of the Duke.
a historical and romantic drama. with literary
quality much above the level of the melodrama