New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-16
ENGLAND'S CLAIM IN CHINA.
THE OTHER POWERS DO NOT WANT
TO LEAVE HER OUT OF THE
CONCERT.
THE EXCITING ELECTIONS IN PLYMOUTH Ana
YoRK-oPERATIoNs IN AFRIcA-ENGLANDs
FINANCIAL DIFFICULTIES IL INDIA
GREAT OPPORTUNITY LOST
SPANS DESPERATE STRAITS
NOTES or LONDON
TBY CABLE TO THE TRIBuNE.l

Is now settling INTO the misty O"Nhhi'"'"'
The official press Of Germany has well
coined Mr.. Balfours Manchester speech with
conciliatory comments. and proclaimed the
readiness Of the Berlin Government to convert
Kiao-C Chau into a free port. open to the COM
merce of the world. II Russia adopts an equally
liberal policy in regard to Port Arthur. neither
England nor the United States will have cause
to complain Of recent Chinese concessions TO
European Powers The German press seems as
anxious as the Chinese Government itself to
have England guarantee a loan. and this Is an
indication that the other European Powers DO
not want to leave the strongest maritime mason
out OF the new concert.
The British Government will naturally re-
quire some security for guaranteeing the loan.
and this will involve the occupation or Chusan
or some other point on the Chinese coast. Eng
land in tins way would be drawn into the con-
cert and possibly rendered as helpless IN the
Far East she has recently been in Constanti-
nople 1t is difficult to reconcile Mr.. Balfour's
explicit statement that Englands interests In
China are not terrt9Aal, but commercial and
trading with the runfss that the Ministry are
seriously considering the expedient Of lending
f16OOOoO. for the only adequate security would
be territory Moreover. if the Government once
begins TO lend money to Chinese mandarins It
The Liberals saved Plymouth with the help
Of the temperance party and gave Sir Edward
Clarke more unhappy hour than the Tory
candidate whom they defeated in the election.
II has been an open secret that Sir Edward
Clarke has been expecting TO succeed the Lord
Chancellor who has received Earl's coronet
and filled more vacancies on the bench than
any predecessor in recent times. The vote at
Plymouth has shown that Sir Edward Clarkes
reslgrf ion in order to accept the Lord Cham
cellorship would be followed by the loss OF q
Conservative seat; hence it is probable that
he will remain in the courts and the Commons.
Lord Charles Beresford's victory AT York in
wolves the loss Of a Liberal seat. but his ma
jorty is so narrow that the Opposition has
slight cause for dscoura agement Sir Chris
tOpher Furness proved a strong candidate; his
manly refusal 10 turn against the Employers
Federation for the sake Of winning votes COM
mandcd respect and attracted support lie
would have won Notwithstanding Lord Charles
Bcresford's spirited canvass if so trivial an in-
cident as the CAPTURE Of Mr. Keir Hardie's
wagon by York rowdies had not inspired a
bitter feeling OF retaliation on the part OF the
independent Labor party. The election was the
most exciting one held in Yorkshire for many
years The three Beresford brothers were ON
the ground with their coaches and drags. and
Lord william and his American wife were seen
driving day after day to political meetings.
The wives of both candidates took an active
part in eectioreering and were present at the
Gudhall when the ballots were counted. The
Liberals are described by Mr BalfOur as leader
less but their campaigns at Plymouth and YORK
disclose the growing strength Of the party ana
indicate the conquest of both sIonghoids al
the next general election. The seat lost by
eleven votes probably will be made good in the
Southeast Durham division.
Reinforcements FOR the British camp at Ber.
ber are rapidly ascending the Nile, and the
situation remains unchanged. with the French
operations at Fashoda still enveloped in haze.
Sir Herbert Ki;chener's order fOrbldding war
correspondents to accompany the expedition
will probably be modified Even with adequate
press facilities for describing the Afghan opera
tions the truth respecting that ll-managed
campaign not revealed for long period
There are now signs Of Improvement in the
relations of the military staff with the Afridis
and the new outbreak on the frontier OK
Beloochistar is not formidable. Englands most
serious difficulties in India are financial. rather
than military, and are increasing steadily The
same Indian officials who advised the Home
Government to reject the proposals Of the
United States and France for international
bimetallism and reported progress in the direc-
tion OF the establishment of the gold standard
are now confronted with a monetary crisis and
can only suggest a small eXpedent Of doubtful
utility A condition Of extreme stringency pre-
walls owing 70 thu scarcity OF money, high
rates of discount and the depletion Of the Treas
ury balances. This stringensy cannot be re-
lie nd in the ordinary way by increased draw
ings and consequent releases Of money. Ths
Legislative Council at Calcutta is consequently
asked TO empower the Government TO issue cur
rency not only against gold held in India but
also against gold held for India in England
The professcd object OF this legislation is TO
enable Calcutta and Bombay to obtain issues
Immediately without waiting for shipment Of
gold to India
THE Economist" points out to-day that cur
rency can be obtained by telegraphic transfers
in exchange for gold, and that the real object
OF the Indian officials IS not the convenience OF
remitters here but the relief OF the extraordi-
nary exigencies Of the Indian money market.
So shallow a financial expedent contrasts
strongly with the real measure Of relief which
migt have been introduced by reopenng the
Indian mints under IN international agreement
with France and the United States. after a
monetary conference The Indian officials with
their artificial scarcity Of the rupee and closed
minis were Incapable OF taking advantage OF
the great opportunity opened to them by the
Administration. and their petty de-
vices for relieving the financial stringency are
now sharply criticised by the same theorists
who a few months ago applauded while they
could not understand their decision TO persevers
IN introducing the gols standard.
The exaggerated reports or the disturbances
in Havana and OF American naval preparations
have attracted little attention here. English
bankers who have refused TO deal In spanish
securities under any circumstances understand
that the real crisis impending in Madrid Is
orsncial Unable TO borrow money In Paris or
.,,. char capital on any terms the Finance
-. adNances from