The herald., 1898-03-09
NOTHING MIRACLE
CAN PRESERVE THE PEACE OF
THE WORLD
THE FEAR OF DIRE DISASTER
Seems More Strongly to Possess the
English Than Either United
States or Spain
Associated Press Special Wire

/ AnSoSAdtSu 1T6SS OpcCidA wire
NEW YORK, March S.-A dispatch to
the World from London says:
Nothing short of miracle can pre-
serve the peace of the world now, it Is
believed among British statesmen and
politicians.
Not since the Napoleonic war has a
danger threatened from so many quar-
ters. Todays news from Washington,
combined with the grave tidings from
China and West Africa, sent consols
down one-half on the Stock Exchange
and the panicky feeling there was re-
| fiected in the House of Commons lobby.
In their present temper, Englishmen
would regard with extreme disfavor the
| transfer of any British built warships
to any foreign country.
| The Admiralty was savagely attacked
| for permitting Spain to take over two
torpedo boats recently completed for her.
Yet those boats were only the partial
6bing Of an order from Spain given more
than a year ago, when four torpedo
catchers were contracted for from the
Fairfield Shipbuilding Company.
1t is proof of the extreme exigency Of
Spain's requirements that those two COM
pleted torpedo catchers are accepted.
notwithstanding that they failed in speed
trials and showed other defects which
there has not been time to make good.
They were contracted for as so knot
boats, but they only attained rs.
The work on the remaining two boats
Is being strenuously pushed, but it cam
not be completed under six weeks at the
earliest.
CAPITAL SCARED
NEW YORK, March S.--A dispatch to
the Tribune from London says:
There has been heavy fall in consols.
Americans and stocks of all kinds today
in consequence of disquieting rumors
from China, West Africa, Spain and
America with rumbling thunder around
the sky. There were signs of alarm in
every section of the stock list, American
securities showing the greatest weak
ness. All the startling rumors current
last week of Spanish preparations for
war have been revived, one heard them
at every turn, but 1t is never practicable
to find anyone in authority to vouch for
them or allow his name to be used in con-
nection with them. 1t is again rumored
that the Spanish government has pur-
chased six warships in process of con-
struction in England and France for
Chile and Brazil. including one armed
cruiser, two coast defense vessels and
three protected cruisers. The Spanish
Embassy denies the story, but the ru-
NOR will not down.
Another report current in military cir
cles is that the Spanish government has
secured the control Of large number of
heavy guns and a considerable torpedo
equipment and other war material in
England and France. This rumor cannot
be confirmed, but 1t is believed by some
well informed experts to be true.
Information which comes from sources
entitled to confidence leads to the belief
that the Spanish government now has
in London the money required for COM
pleting various purchases of ships and
guns. How or whence it has been OBJ
tanned may be a mystery, but the as
sumption that Spain is prevented by lack
of money from making naval and mill
tary preparations on a large scale is not
well founded.
All talk about American options for
the purchase Of ships has been prema-
ture. 1t is not probable that the Brazil
ian and Chilean warships are in the
market for American purchase. They
could not be had even If the United
States government were to make lib
eral offer for them. Spain has secured
them If they have been purchasable. The
only vessels in England, Germany or
elsewhere which could be bought on any
terms by the United States are those now
being built for China and Japan and
neither power has shown any willingness
to entertain offers for them. China is
believed to have refused to consider
made by Spain for the pur-
chase of several ships. Japan is in hot
haste to strengthen her own fleet and
fresh rumors of Russian aggression will
not check her ardor.
NOT AT ALL STRANGE
NEW YORK, March S-A dispatch to
the World from Madrid says: The panic
on the foreign bourses to get rid of
Spanish securities has puzzled the peo-
pie of Madrid all day. They are at a
loss to understand the reason for it. In
sympathy with that panic there was
some fall in stocks on the Madrid bourse,
accompanied by sharp rise in foreign
exchange.
THE FEELING IMPROVES
WASHINGTON, March 8.-The Cab
met was in session today fully an hour
longer than usual. 1t is understood that
the situation was discussed in all of it's |
phases and that it. was the opinion of |
all the members that within the last
day or two matters had taken a more
pacific turn. The situation, it was stat
ed, was becoming more satisfactory and |
in all directions. The re-
port that Spain has purchased two war
vessels from Brazil is known to be in
correct. and the statement was made
that should the United States wish to |
buy these vessels there was reason to
believe she would be given the oppor- |
tunity. The government is doing every |
thing that prudence and discretion |
would dictate to put the navy of the |
United States on a good footing should |
the necessities Of the case require he |
roic treatment.
The Lee recall incident and the inti- |
nation that relief supplies should not |
be sent to Cuba in war vessels are now |
fully disposed of and the momentary
anxiety which they caused has passed |
away. All things considered, the out
look is regarded by the Cabinet has de-
cidedly improved.
SPAIN GROWS HOPEFUL
MADRID, March 8.-A semi official |
news agency Of this city issued today |
the following announcement:
After brief .uneasiness there Is a gen.
eral belief now that peace will not be |