New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-27
THE NEWS OF TWO CAPITALS
LONDON.
JAPAN'S NAVAL ACTIVITY AND THE
CHINESE QUESTION.
THE RELATIVE STRENGTH OF THE AMER
ICAN AND SPANISH NAVIES-THE
IRISH BILL AND THE LON
DON ELECTIONS
DON ELECTIONS.
[BY CABLE TO THE TnfDUwE.I

London. Feb. 2G.-The barometer Eas been
falling intermittently in the City during the
week. the air being heavy with rumors OF war
and revolution. but there is marked improve
ment to-day, with a rising tendency. Tho
situation in West Africa seemed TO he clearing
when Lord Salisbury accepted NJ Hanotaux's
disavowal OF any intention Oh the part Of France
to dispatch an expedition against Sokoto but
was again couded when NJ. Chamberlain ex-
planned that the denials referred to only one Of
three telegrams read by him week ago. and
did not touch the other two. While the Cabinet
is united and has only one policy In West Africa
MI Chamberlain evidently takes a more serious
View Of 1t than Lord Salisbury does.
The English press naturally follows Mr.. Cham
berlain, because he is known 10 be vigilant ard
alert whereas Lord Salisbury has the reputa-
ton Of being tmorous and concatory and too
ready to compromise. Mr.. Chamberlain carried
the Commons with him by really statesmanlike
speech. clear crystal. Mr.. Labouchere hav-
ing only a few straggers in his division. The
French press continues to assert that there IL
much ado about nothing. but English opinion 10
strong and harmonious the African ques-
tion that NJ Hanotaux will be forced 10 take UP
the controversy and settle It.
The close Of the Zola trial was awaited with
morc' apprehension in England than in France
Most Englishmen had convinced themselves that
a revolution was impending. and were surprised
when the public excitement quickly abated and
the French Premier obtained overwhelming
vote Of confidence. English sympathy has been
almost entirely with Zola. and acrid and con-
temptuous are the structures OF the press on the
triumph of militarism over law and morals.
The French people always Indifferent TO foreign
criticism Of themselves ard their institutions.
have regarded these homilies with cynical
amusement. They may have slight headache
after their wild debauch OF excitement, but they
are too sober TO think Of revolution.
The chief source OF depression in the stock
market has been the cloud settling over
Cuba. The suspicion that the cause OF tho
Maine disaster might not be accidental was not
entertained here at the outset. because II I'm.
piled an act of treachery too monstrous 10 oe
credible 1t was not until sharp decline In the
New-York stock market betokened alarm IN
America that :he possibility OF war between
Spain and the United States was discussed In
the Street. Even then there was less apprehen-
sion here than there. as was shown by the
strong buying movement. The tone OF the Lon.
don market is better to-day. but there still
remains deep feeling OF uneasiness ard anx'
iety which can be aayet only by expert festi-
from Havana neTnonsudllNS tndt tilc tA'
poslon was accidental.
The sobriety and self-restraint Of the Amer!-
can people in a grave crisis have not escaped
observation here. but there has been little dis
cussion by the leader-wrters either of the
probabilities Of the outbreak OF war or OF the
effect Of Senior Sagasta's decision to ask the
Queen Regent 10 dissolve the Cortes and set
date for the general elections In Spain. Finan-
cicrs agree that the first result Of n diplomatic
crisis would lie the liquidation Of European In
debtedness to America on merchandise balances
and a steady outflow OF gold. which would raise
the bank rate and harden the London market
They are at loss 70 understand how the bank
rupt Madrid Government can raise the millions
required for a great war.
Naval experts in comparing the resources OF
the two Powers for war on the sea find them
nearer an equality than they had supposed the
United States Navy Is considered by them
stronger in battle-ships. protected cruisers, gum
boats discipline and morale. and Spain superior
I'm its armored cruisers and torpedo notilla
Several armored cruisers were reconstructed last
year in French and Spanish yards and now
available for service; one protected cruiser was
purchased from Italy; armored cruiser. the
Cardinal Cisneros is nearly finished at Ferrol
but her sister ship. the Princess de Asturias. is
only half built in France. The Armstrong; made
contracts two years ago with Spain for bat
tle-ship Of eleven thousand tons and protected
cruiser Of six thousand tons The only other
work for Spain in English yards has been tho
construction Of four 2Sknot torpedo-destroyers
at Clydebank. The Madrid Government has
planned ordering twenty additional torpedo
boats. and is reported to have made fresh
contract for portion Of them on the Clyde.
Naval experts expect that in the event OF war
several vessels now under construction In Eng
llsh yards for foreign Governments may change
ownership The Armstrong; are building on the =.
Tyne two protected cruisers for Brazil. two for
Chill. one for China and one for Portugal They
also have in hand two armored vessels of thirty.
eight hundred tons for Norway and training
ship for Chill. Two cruisers for China were ~
Gently launched on the Tyne, and three In
process Of building at Stettln. Japan has been
trying to purchase two cruisers which are being
built for Brazil La Seyne. well another
at Elsvck. and succeeded In buying two ves-
sels ordered in Europe for Chilli The Spanish
Government has been negotiating for some Of
these ships but has failed 70 purchase them
from lack Of money.
The bulk Of foreign work in English shipyal
IS for Japan. which has ordered three battle
ships Of the Majestic class. equal to the most
powerful vessels IN the British Navy The
Armstrong; are completing for Japan another
battle-shp of T., 40 tons as a sister ship to tho
Fuji, and also hlgh-speed protected cruiser
OF 1890 tons. Four armored cruisers Of 1900
tons. twenty knots. being bull, for the
same Government in England. Germany and
Franc. Eight thirty-knot torpedo des,royers
have been ordered for il in England and twelve
torpedo boats ot ninety tons and one torpedo
destroyer on the Continent.
The extraordinary naval energy OF Japan II
convincing proof that the Chinese question
cannot be settled in Europe. whatever arrange
ncnts may be made for loans by German and