New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-03
THE NEWS OF TWO CAPITALS
LONDON.
INVESTORS ARE CALM IN THE FACE OF
WAR
ENGLISH POPULAR SYMPATHY WITH AMER
ICA OUTRUNs THE PRINTED EXPIRES
SION OF IT-A NEW BRITISH
FOREIGN POLICY.
IBY CABLE TO TIE TRrBUyE.l

the most remarkable feature Of the present crit
ical situation. Some fnanciers are greatly i'm
pressed with the unexpected elements OF strength
on the Vienna, Berlin and Paris Bourses, and
with the evidence OF the restraining influence
exercised by President Mckinley shown by stock
quotations in New-York. They find it hard to
believe that the United States and Spain are on
the OF war. and that the resources Of diplo-
macy are exhausted. when they perceive so many
proofs that the chief monetary centres OF the
world are in sympathetic touch and singularly
free from excitement, They do not yet despair
of the maintenance Of peace by the mediation
Of France and arrangements for a large finan-
clal indemnity for the Spanish evacuation OF
Cuba Other bankers are less sanguine and
frankly admit that may be a question OF a
few days hours They do not expect
anything more than temporary decline In
American stocks If either the Madrid Govern
ment or Congress declares war, and they predict
a speedy recovery. They consider all American
stocks as cheap already, and as certain to rise
in value with the increased freight business In
volved by war They assume that the decline
of Spanish securities will be sharper and point
TO Paris as the only capital where anything ike
a financial crash may happen
The opinion OF the diplomatic embassies In
London outside Of the American Embassy, where
no views are expressed, is less divided than In
financial circles. war is expected because 1t Ii
considered impracticabe TO arrange basis or
peace which the two Governments and the
Cuban insurgents, accept. Such hints a.
come from Washington and Madrid are too
meagre TO enable even imaginative diplomat'sts
to construct grounds for permanent settle
ment OF the Cuban question, and from sheer
bewderment they assume that war Is inevita-
BILE: but they profess TO have lingering hope
| that when the President and Queen Regent
| have done their best and failed France may
| succeed in avertng war by mediation at the
last moment. Military and naval experts also
! have their theories respecting the duration OF
the war IL the last hope OF peace falls. They
predict that the Spanish military system VIII
| break down in practical details for supplying
the army in Cuba with food and other stores.
and that coal will be lacking for the fleet; de-
| fects OF organization already conspicuous VIII
become glaring when is undertaken with
the United States. They do not look for pro-
tracted struggle unless the torpedo lotilla proves
/ Immediately effective against the American
/ Navy bur they consider IL likely that many
American merchant ships may be taken b.
! Spanish cruisers
President Mckinley receives nothing but
praise from the English press for the great
qualities OF self-restrant in leadership which ne
has been displaying in this crisis. Only one
Journal has spoken OF the Message as weak and
pointless: the general judgment has been that II
was double-shotted with facts without single
menace which should cut OFF negotiation
Diplomatists regard IL as perfect In dignity ana
form without n trace Of bullying or blusteriry
| as weighed with the gravity OF the situation.
which required infexihle demands through Min
,ster Woodford in Madrid rather than rhetorical
phrases for producing immediate effects upon
| Congress or the Nation.
"The Daily News" has perhaps surpassed all
other Journals in enthusiastic admiration Tor
President McKiney's methods OF managing the
Cuban affair and in generous sympathy with the
American cause. but the entire Enslsh press II
,ust. friendly and apprec.ative. The Spectator
expresses the general opinion to-day when 1t de-
ciares that President Mckinley and the Amert-
can Nation have behaved with really wonderfu
dignity. and that the Arglo-saxon race may be
proud of It's bigger half.
New-York business man asks me by letter
whether such comments "a cabed fortnight
ago from Sir Charles Dixie, Mr. James Bryce
and other we-known Englishn en- represent the
opinion Of the governing classes and masses or
the English people respecting an era Of Anglo
American good feeling. OH'cal etiquette stands
!
listers now in power or from men like Lord Rose
berry. Sir William Harcourt and Sir Edward
Grey: the attitude Of the governing classes can
only be known from their private conversation
and cordiality of manner toward Americans. and
! there Is no reason whatever to doubt that their
svmpathies are with America in the Cuban
crisis and that they are heartily in favor OF
| community Of action by the Anglo-Saxon race.
! This will be proved in the event OF war by the
| rigorous method in which neutrality VIII be en-
forced against Spanish warshps which may at
tempt to obtain large supplies OF coal In Engiish
or British West Indial ports. II Americans
wish TO subject the sympathy OF the influential
! classes in England to a practical test let them
| rut Government war loan. payable In gold, on
| the London market: Il will sell like hot cakes
| and on the best possible terms with this ex-
plc.t declaration. that the principal and interest
shall be payable in gold. not in coin.
As for the opinion OF the masses. the press
undoubtedly expresses II In its frtendiest refer
ences to everything concerning American inter-
ests whenever there is a chance as there was at
Gravesend when. at the transfer Of the ANA
zonas the American flag was run up over hum
dreds of English roofs. Englshmen in conver-
sation are more outspoken even than the press
respecting Cuba. The common comment is that
England under similar circumstances. would
have interviewed long ago in Cuba; and for
the destruction Of the Maine English Prime
Minister could have succeeded IN maintaining
his self-control so well President Mckinley
has done The great heart OF England is with
America in this crisis
But Engshmen are preoccupied with foreign
affairs OF great gravity and perplexity Rus
sia's dramatic stroke In occupying Port Arthur
ard Talier- Wan under conditions involving SOW
ereignty over Manchuria and the peninsula OF
Iiao-Tong has excited in England widespread
discomfort with the conduct OF the For
eign Office The fact that Russia. Ike Ger