The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-28

to whose influence with the government
there is a ready limit.
The Chinese question seems to nave
reached a solution which will preserve
peace in the Far Feast for at least some
years to come. England has concluded
treaty with the Chinese emperor of far
reaching consequences. 1t provides for a
joint loan of f16000, 900 by Great Britain
and Germany, which insures the immedi-
ate return of Wei-Hai-Wei to Chinese occu-
patton, and shuts out Russia from the con-
trolling influence at Pek1n, which she had
hoped to cement through becoming the
lender. England has also secured the i'm
mediate opening of all navigable water
ways of China to the traders of all nations
and the opening of two free ports two years
hence At the same time China pledges
herself not to dispose of her rights in
any portion of the great Yang-Tse valley
the chief region of Chfna's resources-to
any foreign power. The effect of all this
is to make three-fOurths of China free to
the commerce of the world, and to leave
little room for the schemes of annexation
which certain powers have been attempt
ing to realize. The perpetuity of this set
Element is assured by the fact that 1t re-
ceives the moral support of all the CONNER
cial and Pacific nations, and by the fur
Their consideration that Germany appears
to have transferred her cooperation from
Russia to Great Britain. To finance, the
significance Of these events in Asia and
Africa is that they receive the Old World
of the great war dangers that have been
impending, and afford assurances Of the
worlds commerce being conducted under
pacific policies. The ominous China ques-
ton and the Graeco-Turkish question hav-
ing in succession been disposed Of there
remains little now to obstruct the return
of confidence in the financial circles OF
Europe. The opening of China, with her
vast resources and her 400, 600 900 of people,
to free intercourse with the trading nations
must Immediately give a great impulse to
international commerce and should confer
large benefits upon the United States as
ifnr for fho rod Of he cote
empire. These are the new things that I'M
derlie and sustain the investment markets,
and they betoken an ultimate advantage to
American securities.
In respect to Cuba, symptoms are appear
ing which are suggestive of possible ameli-
orations of the situation. We hear of in
timations which seem hopeful of a possible
solution of that terrible problem. Tho
action of the Cuban autonomy committee a
few days ago has attracted little attention
and yet 1t is highly important as a symp-
tom at least, If for nothing more. When a
large majority of that body of loyal citi-
zens of Cuba asks for a further liberaIiza-
ton of the autonomy, for reduction of
Cuba's portion of the war debt to S100, 000,-
600 and for an extension Of the committee
by fifteen members to consist of Cuban
generals and leaders, it means a policy Of
material Cancellation in quarters closely
connected with the governing powers. More
over, there seems to be some reason to sup
pose that the Spanish government is dis
posed to extend the liberties of the Gu
bans beyond what is provided for under
the existing autonomy. Also it Is given
out that negotiations are pending between
Spain and our government looking to a
basis of settlement that should satisfy the
Cubans. 1t is to be hoped that these in
definite indications point to something bet
ter coming. For the moment, however, the
situation calls for conservative caution
in financial interests.
There should be assurance of peace in the
fact that 1t is simply absurd for Spain to
think for even a moment of going to war
with the United States. If they will only
ence on one side and that on the other.
they would certainly hesitate before TAX
ing such rash step. Let US see wherein
the difference consists. Spain as nation
is on the wane. Her condition is virtually
bankrupt. Her population numbers only
l., 000, 900 of people. The resources Of the
nation and of the people are very limited.
Her credit is equally so. 1t is true she has
a navy at the present time probably equal
to that of this country, but owing to the
lack of resources and credit of the govern
ment it cannot be readily or materially in
creased. Any nation that goes TO war with
the United States must realize the fact that
1t would continue until one side or the other
was exhausted, for the United States would
never surrender to any power on earth. This
is the best showing that Spain can make.
The United States has resources and
credit almost without limit. She has TO-
markable brain power, methodical, level
headed, courageous, determined, and with
powers of great endurance-a people that
have shown themselves to be great in peace
and great in war. Our own civil war dem
onstrated that fact and also that the people
of the whole nation were uniformly brave,
While our navy is probably only fifth
amongst nations at this time, in the event
of war and before its termination we would
become naval power, if necessary, equal