New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-12
rur NEWS OF TWO CAPITALS.
LONDON.
.. ,,opEFUI. FEELING THAT THE WAR
WILL SOON END.
.ctAND PREFERS AMERICAN OCCUPA-
rroN or THE ILlPPINES-soclETY.
DRAMA AND MUSIC.
rpv CABLE TO THE rnIBUxE. ]

,,, var will not last long. The speedy COL
., snanish rule In Cuba and the Philip
'l .I.. &c assumed to be inevitable in every Eu'
P conltal except Paris and Madrid. The
rN.n,sb Cabinet sternly resolves to continue the
~ the bitter end, but the military and naval
80. have not yet shown any sign on hghtns
~ - The Spanish garrisons at Manila and IN
,,,a have been left to their fate. because X is
,~.oss,ble 10 reinforce them or deliver them
'4s, famine The Cadiz feet Is useless for
ZOO, warfare. and Cervera's game or hide-and-
...t has ended gnominiously.
s M, easy TO determine what impression
.,.s. exhbltions OF Spanish ineficiency are
me- IT,. unon the public mind in Madrid. but it
=. evident that the truth Is slowly coming out
-. ,,a si,uation is a hopeless one and that
- Now can be struck for the defence or the
..r,,s honor Whether the full force OF this
..rolatjon, can be felt without an outburst OF
.o,u,onarv passion Is a question fraught with
.,rs,srv The best-informed observers believe
,,a, sagasta will make peace whenever he 'oi--
ssders negotiations safe ana the n'ai"'e""'' "
the monarchy possible.
w attention Is paid in England or on the
c,,,,rsnt to the future Of Cuba. since that Is
.ors,dered an exclusively American question
u,,b respect to the Philippines there Is dif-
,,. feeling Germany France. England and
pussa are all intensely interested In the out
,a ~ the American conquest and occupation
~, ;daa which has taken possession OF the
IDS NJ many influential Englisnmen Is that
h is,ands may pass under the control OF
r~,rce They assum. that when peace IS ne
,o,,sted the Philippines will be held as security
to- the nayment Of the war indemnity by Spain.
ard that France will provide the money ana
tske the islands precisely as England has oo-
tanned We-Hai-Wei. This is a result which
many influential Englishmen are apprehending.
and probably official Germany Is thinking OF
. also II may be assumed with the utmost
confidence that England would prefer perina-
nent American occupation of the Philippines 10
sny other settlement. Germany on the other
hand. cannot reconcile herself 10 the acquisition
Of the islands by any foreign Power
The debate last night in the Commons on U'e
Governments foreign policy was inconciusVe
except on one point. This was the satisfaction
fel, on all sides over the goodwill existing oe-
tween England and America. Sir Charies
Dixie. Sir William Harcourt, Mr.. Asquith. Mr..
Chamberlain and Mr. Curzon were all OF one
mind on that question Americans should not
make the mistake Of supposing that Mr.. Morley
and the liberals are cool toward America. They
United States No English leader could afford
take any line OF action pointing in any other
direction. The Liberals last night seemed dis
posed 10 cavil over the Ministerial contention
that Lord Salisbury was entitled 10 the primary
credit for the improvement Of relations between
England and America Each bench desires the
prestige Of being foremost in promoting good
feeling with America.
The object Of the debate seemed TO be to
harass Mr. Chamberlain but while 12S mem
bers voted against the Government, II was
misleading and futile demonstration. Mr..
Chamberlain discamed the notion that he ia
vored any particular Continental alliance or
that he had been toutng for assistance from
any quarter. but again protested against the
policy OF isolation and closed with an eloquent
reference 10 an American alliance. The irish
passage In his speech naturally kndled fiame
in the Nationalist benches and possibly was in
discreet bu. the speech as a whole brilliant
and useful
Mr. Chamberlain was in advance of English
opinion IN his speech at Birmingham. but he
now has the support Of the country. and knows IL.
Important concessions have been made TO Eng
land at Hong Kong but every member who took
Fart in last nights debate well aware that
these were Insignificant in comparison with the
advantages 10 be derived from common action
with the United States in the East ard West
Indies.
Mr. Hooleys fall has been accompanied by an
outbreak Of moralizing over the vagaries ana
folies Of financial adventures. Wholesome ho'n-
lies have appeared In the same Journals III
Which all his schemes of stock promoting have
been advertised AT an enormous cost bu' the
lreach!ng comes too late to enable credulous IN
vestors TO profit by 1t. Uooleyism followed the
ka1r Circus az a fashionable style OF specula-
uon; II was a system OF buying, recap'talzing
ana selling Industrial companies. MIR. Hoo'ey
oegan with cycles and ended by acquiring con-
iN of and reorSanizing twenty or more indus-
tfial con panies with capital aggregating be-
tween $4,000 OoO and S1OOOO0.O00. He pro-
!esses TO have made for himself and associates
on The ground hoor about $15.OO0.OOO by floating
'hsse industrial companies. He appeared upon
'ne scene soon after the collapse OF the Kofhr
speculation and for three years has been oper-
"''hs on scale OF extraordinary magnitude.
.'s hnancial supporters were frightened when
"' uhccrtook 10 corner tho Australian meat
"sue ano negotiate the Chinese loan. They de-
.@''ed him. and lis prestige was impaired by
Hkagc Of values In nearly all the stocks
"sh ne had manipulated. His occupation as
ek promoter had gone because the public
i'su" ZOE bis shares had fallen of. He has
80 rom business by turning over his az
- !" an Official receiver but he denies that
'ns''Vent and asserts that he appears IN
"anAfuotcy Court in order 10 escape from
"'"''aie's and lawsuits. He owns about
'S-Ahe thousand acres In England ard Scot
- ana the settlement OF his estate for tho
s"s"' OF his creditors will be a complex un-
'".'"s While his collapse is complete. his
'"'es and patrons whom he enriched are
.,''re' and hosts Of investors who bought III.
mares of his numerous companies are without
80" "s OF redressing their grievances X they
'e oeeh wronged Hooleyism has had a great
10 oct IL Is now played out. I, was a system
'och watering and Involved the enormous