New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-26
THE NEWS IN LONDON.
SEALING CONFERENCE WITHOUT
ENGLAND POSSIBLE.
CANADA MAY DRAG HER OUT OF Ir-ENo-
LIsH INFLUENCES AGAINST INTERNATIONAL
BIMETALILsM-GoLD AND THE BANK
RATE-THE OPERATIONS IN INDIA
THE GREEK TREATY OF
PEACE AND ENGLANDs
INDIFFERENCE.
(By CABLE TO THE rRIBuNE.l

INDIFFERENCE
(BY CABLE THE rRIBuNEl
London Sept 25.-Late IN July Lord Salisbury
ncquiesced In the American proposals for an IN.
ternatiora conference on the sealing question
Lord Salisbury seems 10 have acted In this In.
stance entirely upon his own responsibility and
without consulting Canada. 1t is now reported
from Ottawa that the Dominion Government
declines to take part In the conference IL Russia
and Japan are represented in It. and insists upon
restricting the discussion to the conclusions
reached by the English and American experts
II Lord Salisbury takes his cue from Ottawa
England and Canada will drop out of the con.
ference although he agreed few weeks ago to
the American proposals. Russia and Japan have
been invited by the United States Government
to a conference which will be held even If Can
ada succeeds in dragging England out OF It,
The object Of this years conference is not to
revise the regulations adopted with the sanction
Of the Paris tribunal Of arbitration, but to in.
vestigate certain facts In natural history con-
nected with the preservation or destruction Of
the seal herd. The results will be of practical
value in determining the efficiency Of the modus
vivendi already established and the necessity Of
ordering changes In the regulations II the herd
be found to require additional protection. II is
not easy to understand with what grace Eng
land can refuse to attend the conference after
consenting TO do So but the Foreign Office is un-
willing to offend Ottawa Canada has adopted
a diTerentia tariff in favor of England, and
British diplomacy on every phase Of the Behring
Sea question Is directed and controlled from
Ottawa.
Senator Wolcott is in Paris consulting with
members CT The French Ministry but will soon
be in London with his colleagues to receive the
answer Of the British Government respecting
proposals for monetary conference. His mis-
sion Is directly in accord with the resolution
passed two years ago by the unanimous vote OF
the House Of Commons, but is condemned to-day
as fatal to English interests. London bankers
are not leaving any stone unturned to defeat
international bimetallism. The members OF the
clearing house have emphasized in every pos
sibe way their hostility TO the conversion into
silver OF any portion OF the Bank reserve for its
note issue. A group OF members Of Parliament
who recently formed monometallist committee
have warned the Chancellor of the Exchequer
that there exists in the House a strong feeling
OF hostility to any concessions to the bimetal-
lists in America and France. and that a large
body Of Government supporters will be COM
mints are reopened or the gold reserve of the
Bank Of England tampered with The Times"
is also making a dead set against bimetallism,
returning 70 the attack every few days with rs.
newed energy and bitterness The Economist"
reinforces IL on the same lines to-day, censur-
ing the recent action Of the governor Of the
Bank Only Ministry OF exceptional courage
could hope 10 defy the financial opinions OF the
City. and the present Government has not been
conspicuous for fdrtltude infexible purpose
The answer which the Government will give to
the bmetailist proposals Is still in doubt since
the advice which has been received from India
is unknown. but II is probable that Sir Michael
Hicks-Beach Will convince his Cabinet
socates that !nacton Is the safest policy. The
Chancellor OF the Exchequer is monometallist.
but he was greatly impressed with one argu-
ment which Mr.. Wocott employed. This was
based on the danger OF the catastrophe which
ght follow the revival OF Organism and the
triumph OF the silver agitation. Like other
prudent fnanciers Of England. he is not blind
10 the fact that the victory OF the silver mono
metallists will cause widespread ruin in the
United States, and will shake the foundations
Of the financial world. He perhaps willing
at one time to admit that 1t might be the duty
OF England TO recognize this menace to its own
welfare as we'll as TO the prosperity OF the
United States. and 10 cooperate with European
Governments in promoting a monetary confer
ence in order TO minimize this danger; but the
argument has lost much OF its force with signs
OF a renewal Of confidence and restoration OF
prosperity In the United States. 1t is less easy
now to convince either Sir Michael Hicks-Beach
or any other English fnancier that the people
of the United States have much to fear from
revival OF Bryanism.
When American farmers are getting exception
ally hish prices for their wheat. when railway
traffic is continually increasing. and when
American stocks are steadily rising slight
outflow OF gold was the convenient pretext for
an increase in the bank rate this week to 2is per
cent. A much heavier drain upon the gold re-
serves had been expected earlier In the month.
but this has been prevented by large shipments
OF American bonds by which the balance Of
trade has been largely adjusted. This transfer
Of securities is estimated by English experts as
exceeding S5OOOOOO0 further increase OF the
rate is expected in October. since India, Canada,
Greece and China will be In the market borrow.
ing on q large scale ana money will naturally
be dearer
The buoyancy OF American stocks has not
been affected by the many sensational rumors
respecting General Woodfords alleged ulti-
r,atum. and the premature Intervention OF the
United States In Cuban affairs The most gro.
tesque Of these stories was the reputed sale OF
the island to England. The inventors lacked wit
TO explain why England should want another
sugar island in the West Indies, when those
which she already has are langushtng In fort
unes and per!shng for lack OF protection against
the competition OF German sugar. Spanish Sc
curities are not held in England. but In France
and Belgium. There Is no probability that the
interests Of the creditors ard bondholders VIII
be protected by any financial compromise erect
ed In London. In every European capitai the
truth Is known that the purchase OF the island
nv any maritime Power would be equivalent 70
q declaration OF war with the United States.