Arizona republican., 1898-03-03

tine China riedges herself not to S. pose Of her rights in any por-'oI of the great Yang Tse valley-the chief re- zion of China's resources to any for eign power. The effect of all this is to make three-fourths of China free to the commerce of the world and to leave little room for the schemes of annexation which certain powers have been attempting to realize. The per petuity of this settlement is assured by the fact that it receives the moral sup port of all the commercial and pacific nations, and by the further considera- tion that Germany appears to have transferred her cooperation from Rus sia to Great Britain. To finance, the significance of these events in Asia and Africa is that they relieve the old world of the great war dangers that have been impending, and afford as surances of the worlds commerce be- ing conducted under pacific policies. The ominous China question having in succession been disposed of, there
 
 turn of confidence in the financial cir cles of Europe. The opening of China with her vast resources and her 400,- 000,000 of people, to free intercourse with the trading nations must imme- diately give a great impulse to inter national commerce and should confer large benefits upon the United States as a competitor for the trade of the Celestial empire. These are the new things that underlie and sustain the investment markets, and they betoken an ultimate advantage to American securities.
 In respect to Cuba, symptoms are appearing which are suggestive of pos sible ameliorations of the situation. We hear of intimations which seem ! hopeful of a possible solution of that , terrible problem. The action of the ! Cuban autonomy committee few days ago has attracted little attention, ard yet it is highly imporant as a symptom ! at least, if for nothing more. When large majority of that body of loyal citizens of Cuba asks for further liberalization of the autonomy, for a reduction of Cuba's portion of the war | debt to $100,000,000 and for an exten- sion of the committee by fifteen mem bers to consist of Cuban generals and leaders, it means a policy of material conciliation in quarters closely con- |
 Moreover, there seems to be some req son to suppose that the Spanish gov ernment is disposed to extend the lib critics of the Cubans beyond what is provided for under the existing au- 1 tonomy. Also it is given out that ne- gotiations are pending between Spain and our government looking to a basis of settlement that should satisfy the Cubans. It is to be hoped that these i indefinite indications point to some l thing better coming. For the mo- ment, however, the situation calls for a conservative caution in financial | interests.
 There should be assurance of peace 1 in the fact that it is simply absurd for l Spain to think for even a moment of If they will only reflect and weigh : in the scale the difference on one side and that on the other, they would cer- l tainly hesitate before taking such a rash step. Let us see wherein the diff ference consists. Spain as nation i is on the wane. Her condition is vir- tually bankrupt Her population num- bers only 100000 of people. The re- sources of the nation and of the people are very limited. Her credit is equal ly so. It is true she has navy at the
 present time probably equal to that of this country, but owing to the lack i of resources and credit Of the govern ment it cannot be rapidly or material Iy increased. Any nation that goes to war with the United States must real
 ize the fact that it would continue
 until one side or the other was ex- l hausted, for the United States would never surrender to any power On earth. This is the best showing that i Spain can make.
 The United States has resources and credit almost without limit She has 75,000,000 of people pos sessed of energy, remarkable | brain power, methodical, level headed, 1 courageous, determined and with pow CTS of great endurance people that | have shown themselves to be great in peace and great in war. Our own civil war demonstrated that fact, and also that the people of the whole nation were uniformly brave. While our navy is probably only fifth amongst nations at this time, in the event of war and before it's termination we would become a naval power, if nec- essary, equal to that of England; as with the credit of the nation, backed 1 by individual help, it would be enabled to buy all the war vessels now being i built for other nations as we'll as con- l struct very largely at home. Many [