New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-09
NEWS OF TWO CAPITALS.
LONDON.
THE INCREASE OF AMERICAN FOREIGN
COMMERCE
IT pIsTURBs SOME BRITISH FREE TRADERS
GERMANY NOT HOSTILE TO AMER
ICAN OCCUPATION OF THE
PHILIPPINES
fay CABLE TO THE tribune !


sausbury's diplomacy. for which no cues are
spnnlied to the Underwriters. Those in close
contact with foreign Embassies here are con-
WINGED that the final treaty of peace Will leave
the Americans in permanent occupation OF the
entire Philippine group. wen-inforned
diplomatist now in London sums M the case IN
this way:
Americans must either retire from the group
altogether or choose between holding one OF
All The first course would be cowardly ana I'M
moral since il would remand the lslahos 10
misr,,ie and the natives TO relentless punish
n,ent to hold the largest island and leaVe opaii,
in possession Of the remainder or the group WIZ
be to involve America in European ,ns'tsur, tEor,
since Germany will be certain to purchase from
Srain territory with harbor as codlns s'a-
tion There can be no middle course the Amer
leans ought to take all or none anu II hece'-
ssry pay for permanent occupation
There is now a deep conviction among -tne
closest observers of foreign affairs that Germany
will offer no resistance to the permanent Amer-
can occupation of the entire group. when Is the
solution strongly favored by the British Govern
nent The German Government, percelNlng 'hat
England and America are likely to act together
IN the South Seas, wishes 10 join them rather
than to oppose them. The good feeling between
England and America has operated TO improve
the relations between England and Germany
men, respecting Delagoa Bay. or whatever other
Arrangement has been made for the partition OF
African territory. Germany is not likely 10
question the right Of the United States 10 hold
the entire group. but hardly he expected
N remain an idle spectator IL the bulk Of the
t.rritorv he handed over TO Spain. German
nurchase will be- in the opinion Of well-informed
men here. the natural sequel to the American
policy Of partial occupation.
The remarkable effect Of the recent war is al
ready apparent here in the rapid development OK
American mercantile energy In foreign uaoe.
Every incoming steamship brings agents u
American houses seeking 10 make large con-
tracts for work in Europe. and the no'els III
nrov,nc,al cities resound with the high-ptched
voices Of American commercial travellers Ihe
force Of the new competition is felt most keenly
IN birmingham. Sheffield, Newcastle Glasgow
and other centres Of the iron and steel trade.
Municipal contracts continue TO fall into Ameri-
can hands Hastings has followed the example
- Glasgow IN awarding contract for water
Mines TO an American firm which succeeded in
rnderbidd,ng English rivals. American rails
ara going down in Liverpool streets and Ameri-
can electric mechanism has been ordered Tor
Plymouth American cycles are now seen On
every English road. and the imports or American
iron and steel manufactures are sieadily increas-
ing. representative American steam.engine
works is completing contract this week Tor an
English order Of s150000 and two other agents
are Fastening to st. Petersburg in answer TO
proposals for building large number Of loco
motives for Russian railways.
Incoming travellers report that steamship talk
r. largely occupied with mercantile projects for
placing American goods In new markets on the
Continent, and for taking contracts away from
European competitors One shrewd Yankee re-
marks: Americans have been we'll shaken up
by the war, and have their eyes wide open
% the chances for enlarg1ng foreign trade IN
every direction" While dogmatic Free Traders
are convinced that England grows richer as I'M
ports increase, and can perceive no cause for
alarm in the fact that Americans have sent
10000 tons of pig iron and steel across the
Atlantic during six months. and are enlarg-
ing their exports Of machinery and manufact-
ured goods, there are many discontented mer-
chants and manufacturers Letters in favor Of
tariff on iron and steel manufactures con-
stantly appear In the press of Birmingham and
other provincial cities. Coventry is renewing its
painful vicissitudes of Free Trade fortune. When
It's old-tine silk industry destroyed by
French competition. II turned to matchmaking,
and when that trade went amiss finally became
the centre Of the bicycle manufacture. II is now
suffering from trade depression which is at
tributed 10 American competition. FACTORIES are
closed, men are out Of work some hrms are
offering TO reopen the factories II the Workmen
will submit 10 reduction in wages Of eight
shillings week. the poor-law guardians are
called upon 10 relieve distress on a large scale.
and labor agitators are clamoring for the en-
ployment Of artisans in municipal works. An
other district where loud complaints are heard
against the American tariff system is Bradford.
where the wooen trade with the United States
has heavily declined since the repeal Of the Will
son tariff
These facts would exercise a more depressing
Influence here If the general trade returns did
not disclose marked improvement during the
last two months especially in the exports Of ma
chinery coal and textile manufactures The one
important exception is metals and metal manu-
features in which there is a decline There is
also a slight gain in the aggregate Of English
exports 10 the Unite1 States for that period.
While further advance in the bank rate here
will probably follow the similar increase In the
hank rate of Germany. which now seems immi-
nent, fnanciers are more concerned over changes
IN the Indian administration than over the pros
pect Of a renewal Of the active demand for gold
from the United States. Sir James Westland.
who was mainly responsible for the rejection Of
the bimetalllsm proposals Of America ana
France will retire from the Indian Chancellor
ship Of the Excheuuer early in the spring his
place will be taken by Mr. G. F.. Dawkns, whose
training in finance began under Mr. Goscheh'
and has been completed under Lord Cromer IN
Egypt, where he is Under-S Secretary Mr. Dawk-
ms has the reputation Of being bold' pracucdi
nnancier. He will be new 10 India ana 'n's
may be an advantage in the settlement OF 'he
currency question under Mr. Curzons ADMINS
ration. He may not adopt THE spectators
suggestion Of reopening the mints with a thiche'
rupee, actually worth its weight in silver sud