New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-17

, COUNT MURAyIEFF's APPOINT
MENT-FAMINE AND PEsTI-
LENcE-AMERIcANs ~
THE ACADEMY.
IBY THE rRrBCNEl
London. Jan. Ex-senator Wocott has not
considered 1t his mission to enlighten the minds
Of newspaper reporters on the subject OF b.
metallism. He has not taken the London press
into his confidence but has kept his own coun-
sci and acted with great discretion. 1t would
be mistake to assume that he has passed
an idle week; he has been studying the ground.
has made the acquaintance Of Nj. Arthur Bal
four and other members of the Government
and has been brought into personal relations
not only with the bmetallist leaders. but also
with eminent financers like Lord Rothschild
and Indian administrators like Lord I.ansdowne
Certainly he has secured access to the best
sources Of Information on the monetary ques-
ton. He Will remain in London for the next
ten days. and will have the best possible op-
portunty for exchanging views with academic
blmetallists and practical nnanciers
While the press has had nothing TO say about
his self-imposed mission beyond recording lists
Of the guests at the private dinners given for
him. financers in the City are interested in his
would not Go this If tho finances Of India were
not disordered. and II some pretcxt were not
eagerly desired for the resumption of the COIN
age Of silver in that country asked an
experienced banker yesterday what would be
the result If the Indian minis were reopened
He was strong monometallist but answered
decsivey:
An advance of seven eight pence in the
price of silver; it would be great thing for
silver. Besides. If the minis were once reopened
they would not be closed again"
Whether international conference be held
with or without the participation of England. the
reopening of the Indian minis would be con-
sidered by London fnanciers a grea, concession
to all countries producing the metal. II may b.
the only concession which be obtained from
England except the coinage OF iJ0OO00O OF sill
yer outright and the incrase OF the silver re-
serves in the Bank of England. but 1t will d,
something to stiffen the price Of silver and to
| influence European opinion in favor OF interna-
| tional action.
What English moralists do not like to face is
| the reproach of leaving India under the pressure
| of financial stringency. with money command
ing exorbtant rates and exchange very high.
| when millions Of natives re confronted with the
horrors Of starvation and the black plague.
The resumption Of sill coinage would be q
| L Il
Meanwhile tho bank ate in England remains
| at per cent. without any large outflow Of gold
| in any direction For the first time in thu
financial history of the country the rate has
been doubled without bringing gold back into
the bank. The outflow was checked severa,
months ego. but, contrary TO previous expert
ence. gold has not been attracted in return
movement. The explanation would seem to b.
that England has ceased temporarily to be .
creditor nation and the balance Of trade ha1
| not yet turned in her favor.
| The weekly reviews take up to-day the Joyful
refrain heard all the week from the daily pres
over the negotiation of the arbitration treaty
| England has only one voice on this question
| English opinion. however. is less impressive
than European opinion. The treaty has COM
manded the attention Of the Continental press
to an unusual degree and IS described at once
in Vienna. Rome and Paris as fresh land
mark in the progress Of civilization. Perhaps
the highest tribute paid is an unconscious one
from the German press, which complains that
so notable example of the utility OF arbitra-
ton If. Anglo American relations will encourage
unculy the peace party in the Fatherland The
American Senators who persist in obstructing
or defeating this treaty will be. according to
this view useful allies Of German militarism
and remorseless enemies of humane and pacific
civilization. The responsibility for rejecting an
arbitration convention which has produced
profound impression on the circle of European
armed camps will be serious indeed. The
United States Government after increasing
greatly its diplomatic prestige by compelling the
settlement Of the Venezuelan question. now has
a browning opportunity for setting example
which will a potent moral influence
throughout Europe.
Three Cabinet councils have been held this
week. and the Queens signature has been at
tached to the speech which will be read from the
throne on Tuesday. The last function was at
tended by two new members of the Privy Coun-
Gil Mr.. ST. John Brodrick and Sir John Kenna-
way. one OF whom upset the Rosebery Ministry,
while the other called halt at the last SEES.
sion when the present Government were strug.
Cling to pass the Education bill. They were
sworn in together members Of the Council
After these unusual displays Of political ac-
uvity everything except the precise phrases OF
the Queens speech may safely be forecast All
the official secrets have already been disclosed,
and the titles Of the various legislative projects
known. The Duke of Devonshire has even
been obgng to explain the order In
which the Secondary Education hill will come
He has remarked that the place which II will
occupy In the Queens speech will be disap-
pointing-obviously toward the end. The Duke
has a unique talent for pouring cold water on
any subject of burning Interest," it is however
unusual to bury legislative child before II II
born
There may be surprises in store, hut the ses-
sion promises to be exceptionally dull. The de-
bate the address will probably last a fort
night. and the measures introduced are likely
to produce only lstless discussion While the
Ministers. warned by the remarkable increase Of
the Liberal majority in the Clevelend bye-elec-
ton. have decided against proposing rate aid
as the basis of the new Education bill. their
own party not being united that principle
Mr. Chamberlain has taken an important stand