New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-28
or NEWS OF TWO CAPITALS.
LONDON.
prAcE COMMISSION REGARDED AS
A STRONG BODY.
THE SPECTATOR" PROPOSES AMERICAN
CONTROL OF THE NICARAGUA CANAL
rvcLAND IN THE WEST INDIES.


81" ~. ,searded by the English press a strong
s' ,b,ch will stand firmly for the retention
~ ,bs philippines. under American control,
VI. :. ,n accord with English policy. and natu-
n, causes deep satisfaction. The British For
'" ~ omcs does not attempt to conceal it's pleas
,- the trend Of events. which is In the
.'1...,or n, common action In the Far East be-
.,..sn England and America Murmurs from
~. continental press are already loud and
80, hit IL is impractcable for the closest OBJ
.ar N forecast with any degree of confidence
40 ,olicy Of governments. A mysterious silence
g.. fallen upon the German press. The En-
.-or's interior aims are unknown. and even Of
e.ol Journals are without cues. The influence
=, French Investors in Spanish securities Will
y. nromoted by tho abandonment Of the Philip
,,res The Spanish colonies have been sources
:, constant expense. without compensating ad-
v,ntages Spanish credit has improved since
,bs loss Of Cuba and Porto Rico and will make
6 fresh advance If ;he Philippines can be HANDED
over TO America and the energies of the Madrid
Goyernment concentrated upon internal affairs
At home
The optimistic Spectator" IS not satisfied
with explaining to-day that the British Govern
r,ent when approached oaT'y in The spring nv
n Hanotaux on the subject Of European IN
,ervention in the Cuban affair, gave warning
that it would place its fleet at the disposal OF
President Mckinley; it also goes to the lens'N
Of advocating in leading article the anroga-
ton of the Clayton Bulwer Treaty ana the sun
ttirution for It of another treaty by which ENG
land and America slan mutually bind them
selves to allow no Government except that OF
the United States to make or control any canal
nd
America. This article even goes beyond MI
Baine's famous letters 20 Mr.. Lowell on the
canal question. over which Lord Granville quib-
bled and the English press ragged and imagined
vain things seventeen years ago. The Spec
tator's" article. which deserves TO be printed IN
large type in every American newspaper as
convincing demonstration of English frendli-
ness. ~ acted upon ny the Fore;sn Once here
would remove the only serious question remain
ing unsettled between the two countries. IL
would leave the Suez and Nicaragua canals sub
tect TO the same general principles of regulation
in peace and war. with one under the control
of England and the other under the charge OF
the United States. That would he an ldea'
partnership.
Fumors respecting dissensions In the Quebec
Conference the secession of Jamaica and other
West Indian colonies from the British Empire.
and a disposition the part ~ the United
States 70 propose a game OF barter ny "h'ch
the Philippines can be traded off for them. have
hardly caused a ripple on the stagnant surface
OF English opinion. The Quebec Commissioners
are not expected to settle ofhani the series OF
complex questions which have occupied the at
tention Of diplomatsts for many years. Ihe
single point which impresses English observers
,ba faelir1 DerVa6iug America and Cana
da, which facilitates a frank exchange Of views
and opens the way for the adjustment of many
yexatious controversies.
The reports Of the outbreak OF annexation
feeling in the British West Indies are NOT re-
earded in official circles here as anything more
than a convenient expedient for bringing the
interests of the colonies prominently before the
home Government and forcing Il 10 adopt larger
remedial measures than meagre charity does
Even Nj Chamberlain is al a loss to know what
TO do for the West Indian colonies. He has
been inclined to favor temporary sugar duties
to Offset Continental beet bounties. but has been
forced 70 admit that the immediate effect OF the
imposition Of such duties would not he helpful
since it would deprive the sugar islands OF the
advantage over bounty-fed sugars which they
now enjoy in the American market under the
Dingey tariff
A question of far greater difficulty than the
fate OF the British West indies has been Ian
gudly discussed this week. This is the Indian
currency which is source OF despair to all
practical flnanciers. 1t has been revived by
the publication Of the first instalment OF the
evidence taken before the Indian Currency Com
m!ttee and by the disappointing results OF the
latest loan negotiations The Calcutta oiiicia!
Inquiry has produced twenty five expert wit
nesses vyho agree in the main that whether 1t
was wise or reckless to close the mints few
years ago !; is now impracticable for the
Indian Government 10 reverse its policy ana
reopen them. Since the Government cannot go
lack Il must move forward in the direction or
he single gold standard, but when the witnesses
come 10 the question Of ways and means tney
are blind guides leading the blind. The closest
approach 10 agreement is on the academic
proposition that the task Of placing the indian
currency on a gold basis is not insuperaDie
The Lindsay scheme for introducing the goid
standard without gold currency meets win
little favor. and the official proposals OF
ne Indian Government are also discouh-
financed Perhaps the most hopefui sign
Lord Rothscbiid's willingness 10 adihIt
mat the enormous increase IN the "oriu -
PRODUCTION of gold will enable India to ac-
eanulate an 1equate gold reserve. "hl'e eA-
yer" are tieorizing over the complex ol'l'cui-
Nes OF the problem. all comme:cia! interests J."
inua are suffering from the scarcity oi cur
'ehcy With the rupee intrinsicaiy worth 'eh-
pence, IL IL aIt!iclally raised BY contraction ~
an exchange value Of sixteen pence An aiar"i-
ing sign OF financial eXi austion is the sinai'
aggregate Of tenders for the new loan thlS WrVN'
and the unusually heavy discount demanded I'M
pies tremendous snrinkage Of midas power
Of borrowing
English opinion Is not preoccuped win tn's
Wy currency question. important as II may pc
1os the future welfare Of the Queens huhure'S
W millions Of Indian subjects. u Is keeping
eoreast with the British Arny now edvhnclhS