The times., 1897-06-25

of the treaty. II, in 1901, a bimetallic
Secretary OF the Treasury We're to at
tempt to retire a Government bond held by
Lord de Rothschi1d in the money of the
contract, the latter would have been, in
a position to say; You are estopped from
doing that. Repeated Treasury rulings
ard assurances from Presidents Cleve-
land and Mckinley have pledged the
good faith of your Government TO pay
your bonded debt in gold. This constitutes
difference between the two countries
as ccnlprchendcd by the treaty. / shall
appeal, through her majesty's embassy,
for arbitration -
There is not a scintilia of doubt that
this was one OF the chief purposes OF
the 0Iney-P -Pauncefote treaty, anl there
of the new treaty, a rough draft of
which has been agreed uIan In Washing
ton, aad which is now ON its way to
the British foreign office in the dispatch
box OF Sir Julian Pauncefote. The exist
ence OF such a paper is denied by the
Administration, but its friends admit tnas
ex-senator Edmunds of Vermont is sound
ing the Senate TO see what kind of a
treaty it would stand In view OF this
ever it is worth.
II boots not to say how the cat es-
capped from the State Department bag.
1t is sufficient that it got out. A whole
list of American newspapers joined in
securing knowledge of the movement.
The New York Sun probably could
shed light on the subject, If iu chose
to. 1t reported that, when the nego-
tiations for new arbitration treaty
should be renewed, the basis upon which
they viii proceed will be widely diff
ferent from that upon which Secretary
Olney aud Sir Julian Pauncefote stood
when the treaty recently rejected by
the Senate was framed 4 new treaty,
should one be prepared, will, it can be
stated, be confined TO a declaration OF
confidence in the principle OF arbitra-
tion as the proper method of settling
international disputes, and a purpose 20
saving only those OF matters Which af-
feet national honor and such other special
exceptions, such as the Monroe doctrine
and the ooutFol of the Nicaragua Canal,
as the Adininistra ton may see fit TO
make. Co tribunals OF arbitration for ,ie-
termination"
British diplomacy and British financial
interests iu America, N alliance with the
Anglo-Americ n gold and bond syn,h-
Gates the spanish-Cuhan bondholders and
the Sugar Trust, temporarily are wiling
to retire from attempts To revive the
Clayton Bulwer treaty, or TO den0unce
the Monroe doctrine, If only we can be
induced TO put our head in the no,sse of
a bitration on the question of oar labl-
fly to pay our foreign debt in gold .oin,
or that of our rght OF interven uon IN
Cuba contrary to British Interests, and.
rly, our right 10 exercise any other
power in the direc uon of foreign or
domestic policy in any case where In
tervening interests may serve to raise
the question of "a difference between
the two countries"
It is fine illustration of the neces-
sity for eternal vigilance. And, meanf
time, it is pleasant to observe that Great
Britain continues to surround our coasts
with Notifications, guns and fleets. From
St Johns, Halifax, the lakes, Vancouver,
Esquimault, Bermuda, Rarbadoes, Jamaica,
Santa Lucia, British Hon Guras-frorn
every direction, the forts and ordnance
of our friend the lion. fTown in our faces.
AS an alternative to their active opera
tion we are TO lie offered arbitration.
On the whole. the British-Aneifcan
governmental end financial combination
VIII discover that the AmeTi, an people
prefer to take their chances against The
guns.