New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-08-29
THE NEWS OF LONDON.
THIS coUNTRYs COMMERCIAL REVIVAL
AsCRIBED TO PROVIDENCE.


VISIT TO THE czAR-LORD SALISBURY AND
THE PEACE NEGOTIATIONS THE RE
VOLT IN INDIA RECEPTION cF
THE DUKE AND DUCHESS OF
YORK IN IRELAND
lBY CABLE TO THE rRrBUSE.l
London. Aug 2S-English prejudice against
Mckinley as a sincere and courageous protec-
ZIONIST has not abated. and the validity Of his
title as the Advance Agent OF Prosperity is rot
yet recognized here. Signs Of the commercial re-
vival and the restoration OF confidence in the
United States are clearly dlscerned but Prov-
dence enjoys a complete monopoly OF the credit
for the improved conditions. and Americans are
congratulated upon their mercics in having a
bountiful wheat crop when every quarter Of Eu-
rope is suffering from a scarcity Of food supplies.
English financial experts agree in their forecasts
Of a period Of exceptional prosperity in Ameri-
ca With the price Of wheat higher than II has
been for many years. and with the certainty ~
an enormous export Of food products from Amer
lea which will keep all railway rolling stock in
opera ton. they are convinced that good times
are returning Investors are taking the same
view. being impressed by reports OF heavy rail-
way traffic and by the rise Of all classes
of American securities For long period they
were disposed 20 sell their American stocks
whenever there a rise in NewYork quota
tions. but they holding back in the con-
fident expectation that prices will steadily in
crease.
One of the largest English millers estimates
that the total yield Of wheat in the world this
year will be 20OOO00 quarters less than 1t was
last year owing to the failure of crops in Eu-
rope India. Australia and Argentina. He as
serts that America having the only good crop. Is
really IN position 10 dictate prices and is maxi
ing full use OF its power This is true, except
that the worlds consumption in year Of search
ty is not what it is in year Of plenty. fact
which spectators in wheat always forget. Eng
lish farmers will profit by the high prices and
be encouraged another year 10 raise more wheat
than they have been marketing for a long time.
although the Chancellor OF the Exchequer has
warned them this week that they will do better
to confne their energies 10 stock and dairy farm
ing. The price of bread is already rising in Eng
land. and will be very high before winter ends.
France ordinarily produces her own wheat sup
ply, but this year is expected 10 import at Least
one fourth possibly one-third Of it, Agitation
has already opened for the removal Of the duties
on wheat. and Paris will be fortunate II serious
bread riots are avoided Germany, Italy Aus
tria- Hungary and Rumania have small crops.
and will require large supplies from America.
The situation in Russia is uncertain, but the ex-
port Of wheat will be only fraction Of what Is
ordinarily shipped.
English financial experts now consider II prob
able that the American tariff, when once
fairly in operation, will yield an adequate
revenue. This certainly will not he dspensa-
ton of Providence but the work Of practical
politicians in sympathy with President McKin-
/
event the experts are agreed that exports Of gold
from America will be impossible with tremen-
dous exports of wheat at high prices They as
sumo that Organism is already lost cause.
since the heavy fall in the price Of silver has
companied rise in the price Of wheat and
dspeed the Populist Illusion that wheat and
silver rise and fall together Some Of the best-
informed fnanciers here now predicting that
the Mckinley Administration will be in posi-
ton next December to bring about important
measures Of currency reform. which Will impart
stability to American finance and completely re-
store the confidence Of European investors In
the honesty and good sense OF the American
| people.
English comment upon President Faure's visit
to St Petersburg centres upon the off ial use ~
the word allied in his own and the Emperor's
speeches. This is regarded in the light Of
political revelation. 1t has been the fashion in
both Germany and England To assume that
France was Russas dupe. and that there was
no real alliance between the two countries. But
the evidence mas been clear from the outset that
they were acting together. and had reached a
definite understanding during the reign Of Alex
ander III Probably another step has been taken
during NJ. Faures visit. and treaty has been
signed by NJ. HanotauX and Vi. Mouravien
Whether this alliance can survive the downfall
and disposition OF the Turkish Empire is another
matter Russia with her intense religious feel
ing will insist upon having Jerusalem. as well
as Constantinople. and Syria is the only portion
Of the Turkish Empire which France as Roman
| Catholic nation really covets Meanwhile the
two allies are rejoicing in their embraces and
proud Of the attention which they command in
the world VI. Faures pompous manner and
sympathetic smile were we'll adapted to the part
which he played in ST. Petersburg
! Boulevard wits may jest over their journey
man tanner sleeping in the same bed which the
German Emperor had occupisd in the Baltic
Versailles and his regal style in disportng him
self in Romanof palaces. but NJ Faure has
really displayed remarkable tact and dignity ~
presence IN 81 Petersburg. The German En-
peror had preceded him and been received with
exceptional glory and honor. but to NJ Faurs
was accorded the unique distinction of living in
the Winter Palace for a day though it were
the E.lyste. and of going about - Petersburg
and receiving greetings OF enthusiastic crowds
AZ though he were in his own capital
NJ Faure astonshed his enemies A year ago
by the grace and distinction Of manner with
which ne received the most powerful morarch
In Europe With equal nexibility and good sense
he has adapted himself to the ntricaces Of e'i-
quette and ceremony in the richest and proudest
| Court in Christendom. NJ. Faure ridiculed
an obscure politician when he was elected 10 the