The times., 1897-06-21
Circulation Statement.
WASHINGTON. MONDAY, JUNE ai
The Arbitration Revival.

What we have been expecting for some
dime, has come TO pass. Mr. Mckinley
proposes to try his hand at an arbitration
treaty with Great Britain, and Sir JnliIn
proposition with him curing his SUMMER
vacation in England. The American end
Of the scheme has been cut and dried for
two months, and when Carl SchurZ's arm-
trayina paper appearedin Harper's Weekly,
The Times was quite Justified in declaring
that il would soon materialize.
The object of the Administration in Ie-
opening the fight is one easily understood.
Early last year, when the Republican
business manager was seeking campaign
contributions, the British financial eIe-
nient, which controlled the Cleveland gov
ernInent. made 1t 3 condition that Mr.. Nc
Kinley. il elected, should use all the in
nuence of his position to whip through
the CIney, Pauncefote treaty. Both the
President and MIR. Hanna did all that was
possible IL carry out their pledge, but were
dcfealed III the Senate. 1t was not to he
expected, however, that the matter would
he allowed to rest there. Neither British
Diplomacy noI British greed ever acknowi-
edges itself beaten, ana whatever else may
he said tf the Hanna Administration, iJ IS
completely Ieinorseless in its efforts 10
settle satisfactorily with the campaign cred
itors who furnished the sixteen million
,loflars raised for the late election
The motives underlying the proposed
acton are strong and Imperative. Lead
ers OF opiniui, in the Republican party are
Ierfectly well convinced that the doom
OF that political organization is fixed and
unaIterable They xpect nothing less than
q decided revolution in 1900, and the
accession 10 power of a governme nt pledged
To bimetaIlism. In consequence Of this
prospect, even thus early in the history
dent aud his control have abandoned all
though. of anything like a constructive
policy, and arc bending all their energies
70 the purpose of conservation, strictly in
the interests OF the gold and bend syndi-
Gates, and tie trusts aud monopoiies, whose
creature the present Administration is
without disguise, and very little attempt
at any
In view of such eyentaalities. Mr.. Hanna
is determined to anticipate the storm
by tying the hands OF the United States,
through international agreement, so that.
In case Of his success, it would be ilnpossi-
bic for bimetaIlic Executive to avoid
paying foreign holders of our national
bonds in gold coin, notwithstanding the
fact that. under the contract on the face
OF every one of them, they are payable
in lawful money of the United States.
That viii be the chief aim Of any arbitra-
ton treaty that may be proposed, no
matter how shrewdIy it may be coD-
cesled ID the text.
the Oiney- Pauncefote treaty covered
other designs, hut this was one OF the
most. perhaps the most, important of its
desiderata If it had been ratified. the
question of our paying British bondholders
ia gold coin would have become a subject
of arbitration the very first time BIZ
metaIIist Secretary of the Treasury should
attempt to take up a bond held by Lon
don banker. with lawful money. This is
the firm opinion OF more than one of the
best lawyers in the United States Senate.
Because the movement has been looked
for, and. indeed, comes quite as matter
OF Course, that does not detract from its
vicious character. Every resource Of
money and influence; patronag ge, the caucus
buck and gag, subsidized press, and a
manufactured Observation-Disclosures pub
lie sentiment, win be resorted TO in aid of
the enterprise Senators who have any
thought or care for the people, and the
people themselves, viii take warning Fore
warned is forearmedl