New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-07
ENGLAND's COURsEIN EGYPT
SIR MICHAEL HICKs-BEACH RAISES AN
EXCITED DEBATE.
STRONG LIBERAL GAINS N THE WEEKS BY-
EfEcTroNs-TTiE ARBITRATION TREATIES
THE SENATE AMENDMENTS IN DIsFAvoR
Mr. BAIForR OK HIS METTLE
WITH THE EDUCATION BILL


SASSEN IN ENGLAND
[BY CABLE TO rRfsrSE.l
London, Feb G.--The Chancellor Of the Exs
chequer is a quiet man with a husky voice. but
he has made the speech of the week. 1t was
delivered last night before a small house
the subject OF the English policy in Egypt. and
brought on an excited and declamatory discus
sion which rapidly filed the benches. 1t was
sober and terse, but courageous and firm. 1t
dealt with the intended resumption Of the march
up the Nile and the reconauest of the Soudan.
In H. Sir Michael referred to the Judgment or
the Mixed Tribunal against the right OF Egypt
to pay the expenses for the recovery Of her lost
empire and declared that England could not
be worried out Of pursuing the policy she be-
levsi to be proper and necessary He pre-
dicted that a grave question would arise next
year over the constitution OF these mixed courts
and their power to interfere in affairs intrusted
by Europe to another tribunal Altogether. 1t
was bold and resolute speech, with sterling
English ring and with a defiant note which
could hardly fail to cause intense irritation In
France
Sir William Harcourt. Mr.. John Morley and
Sir Charles Dixie condemned it as dangerous
and impudent, and provocative of evil results
but when the subject had been debated with
great heat the financial vote was carried by
rousing majority The Government, with their
great majority and petty policies. need coura-
geous leadership like Sir Michael Hicks Beach's
with its lucid common-sense and direct appeal
to English pride
The by-elections this week have shown that
the Liberal party is gaining ground from vari-
Gus causes The shrinkage Of the Unionst vote
in Romford could be explained by the bad
choice of candidate. The last amazing Lib
eral victory in Walthamstow was revolt
against a Government revolutionary as 70
silence and depress every Ministerial supporter
The battle was won by combination of Liberal
workingmen under strong labor candidate.
and points the way toward successful reorgani-
cation Of the Opposition on democratic lines and
its ultimate triumph. 1t was a warning to the
Government that the country needs something
besides opiates and narcotics in domestic leg!s-
lation. and that tie UnOnist policies lack in
spration and aggressive strength.
Warned by the peri,s TO which the Arbitra-
ton Treaty hes been exposed, the English press
is cautious in commenting on the Anglo-Venez-
uelan treaty which will also require ratification
by both chambers in Caracas Senior Crespos
influence is considered strong enough to secure
the assent Of both chambers. and Venezuela Is
regarded as bound in honor to accept with good
ton Of the United States. The arbtrators are
praised as jursts of the highest rank. and an
equitable settlement Of the boundary dispute
is considered foregone conclusion.
The Scotsman" commenting on the official
report on the mining industry In the contested
districts, rejects the theory that the territory
consists of dismal swamps 1t finds ample
ground to hope that the ruin which menaces
British Guiana from the decline Of the sugar
industry may be averted. and a new era OF
prosperity opened through the discovery OF
productive gold deposits This argument en-
forces the wisdom and the necessity OF finding
out to whom these gold lands really belong.
Little has appeared in print on the subject Of
the Senate amendments to the general Arbtra-
ton Treaty, but that little is emphatic. The
fact is clearly recognized that in aiming to ex-
clude the Monroe Doctrine Senators are virtu-
ally killing the treaty. The English conscience
is clear on this point. England has sanctioned
the Monroe Doctrine, agreed to settle the Venez-
uela dispute and accepted international arbi-
tration, which has always been regarded as
an American principle. If the treaty fails Eng
land is not responsible. but will have the credit
OF acting on higher ground than the Americans
occupy. although the principle was theirs and
they professed to believe in it year ago. One
effect Of the rejection Of the treaty Will be that
the sincerity Of American professions will be
questioned by Europeans. II will be asserted
that Americans make a stand for principles
only to abandon them when they succeed In
converting other nations to them.
a curious example OF the effect Of the Sem
ate's action on the treaty may be related on
the authority Of a trustworthy American. He
had received authority from America to place
in, bo Of
way bonds OF Akron. Ohio and Detroit. As
securities OF this class are known TO be profta-
Bile investors looked upon them favorably. and
the promoter seemed likely to place them In
England. When the amendments TO the Arbi.
tration Treaty were reported the English in
vestors backed out. Your American Senators
like Mr. Morgan" they said. discourage US
from going into anything American"
The rise Of Spanish bonds the Madrid and
Barcelona bourses foreshadowed the scheme Of
Cuban reforms now officially announced. Specu-
lators. usual, received official tips and oper-
ated for a rise. A political compromise is shown
to be necessary by the financial reports The
Spanish Treasury is once more al the point OF ex-
haustion and the officials are at their wits
end for carrying on the campaign in Cuba II the
political compromise is not accepted
The second reduction Of the Bank OF England's
rate has diminished the interest taken by Lon.
don bankers in the currency question In India
They are now confident that no large export Of
gold to India Will take place. and are not dis
posed to make any concession to the bimetallist
movement. They profess TO believe that the
soivency Of India is a question that will settle
itself. Lancashire. whose chief cotton trade Is
with India, doesn't altogether concur in that
view.
Mr. Balfour has been on his mettle since the
Education bill was introduced, and has partly
succeeded in regainint the prestige he lost
through the slovenly manner in which the meas
ure was explained. Mr.. Chamberlain came to
his rescue In an adroit speech. and the first read
ing was carried by a great majority. The meas.
ure does not excite enthusiasm In any quarter.