New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-10
THE NEWS OFTWO CAPITALS
LONDON.
FINANCIERS AND DIPLOMATS ACCEPT
WAR AS THE EASIEST SOLUTION
OF THE PROBLEM.
PREDICTIONS OF HEAVY LOSS TO AMERi4
CAN TRADE AND THE RUIN OF SPAIN
IN THE EVENT OF HOsTILIrIEs
NEARLY ALL AMERICAN WAR

CAN TRADE AND THE RUIN OF SPAIN
IN THE EVENT OF HOsTILrrIEs-
NEARLY ALL AMERICAN WAR
MATERIAL SHIPPED.
GBY CABLE TO THE TRIBuNEl
London April 9-Amercan affairs fill the
pauses Of the Easter holidays. There is little
In the papers except dispatches from Washing.
ton and Madrid and Judgments upon them
which may hold for twenty-four hours
possibly not more than twelve. The increase in
the bank rate is distinct sign OF war In a
quarter where the belief in the maintenance OF
peace has been strongest. The advance is justi.
fed by the outflow of gold and the condition Of
the bank reserves. but cannot be explained
away on monetary grounds The effect OF the
interview between the President and the Dlplo-
matte Corps has been to convince the public
here that the European Powers cannot prevent
war except by bringing tremendous pressure to
bear upon the Spanish Government to maintain
peace by an immediate concession Of amnesty
based upon the independence Of Cuba Whether
! any Government can stand in Spain after maxi
ing compromise so humiliatng to the National
pride IS question which no sane Englishman
attempts to answer. Whether any scheme Of
/ compensation for the loss of rhe last Spanish
stronghold in the New World can be devised
I
tribute paying Egypt, or considerable portion
Of its debt can be assumed under an American
guaranty. is another inscrutable mystery The
difficulties in the way of peace battle the dpio-
matte resources Of the writer's here. and give
warning that the situation has become unman-
ageable. with war the easiest solution.
Everything which. has been purchased In
Europe for the American Government is now
/ or nj 1y dalf in he Sta
except the Brazilian cruiser unfinished on the
Tyne All the rapid-hre guns and other war
material bought in England have been shipped.
and the third cruiser purchased. which has been
renamed the Topeka, has started on her voyage
across the Atlantic. The torpedo boat bought
In Europe has also gone. Neutrality laws cam
not now be invoked 10 prevent the shipment OF
/ any OF this material or the sailing OF any vessel
except the Albany when finished.
Lieutenant Coiwell, upon whom the bulk Of
/ this work has fallen has broken down under
X and has gone 10 Paris TO recruit his health
He has been working with great intelligence
and zeal. Commander Brownsor returned to
LonGon yesterday from the Continent; he has
not bought torpedo-boats in Italy, as has been
reported nor made any additions TO the Ameri.
can Navy. The only ships which he considered
worth buying were the Gillian O'Higgins at
Elswick and the Argentine armored cruiser
/ building in italy. and these could not be pur.
chased He has made a rapid but exhaustive
survey Of English French and Italian yards.
and found no other ships sufficiently advanced
to Justify their purchase. He did not consider
It worth while TO bid for small warships which
would have added little to the fighting power
/ of the Navy Commander Brownson has wisely
exercised his discretion and while he has no
ships TO show for his laborious campaign OF in
/ spection he has dlne his work we'll and sur
yeyed the ground with good Judgment. Japan.
/ Chill and the Argentine Republic would not sell
/ the few ships which he wanted: otherwise he
found no ships In the market which would be OF
real value. As the final result of this competi-
tor for the purchase OF warshIps Spain has
secured the Garibaldi and the United States
Lieutenant Colwers three cruisers the New
Orleans. the Albany and the Topeka The last
vessel Is small and was obtained NJ a low price.
The question whether vessels under a neutral
! flag will be liable to seizure by the bellgerert
ravies is discussed in nearly all the journals;
! there is general agreement that the right OF
search cannot be questioned. and that ships can
be taken into a Spanish port II contraband OF
war be found on board. As shipments Of NUM-
tions Of war will not be allowed by the COM
panies passengers on transatlantic lines will not
/ be in any danger In the event of war; passen-
gers certainly cannot be taken off as IN the
/ Trent affair. It IS not considered likely that
any English French or German ship Will be
overhauled by Spanish cruisers The American
| ,inor sails to-day as usual and the Campanla
| from Liverpool. The English press forecasts
! heavy losses for the American merchant marine
| in consequence Of war, since Spanish cruisers
! and privateers under letters Of marque are GER
tain TO hunt for prizes and do much damage to
shipping interest by guerilla warfare.
Americans. II be forced upon them, VIII
have England as their best friend in Europe.
! This is certain alike from the conduct Of tho
| Foreign Ohlce which will do nothing to embar-
rass the United States and also from the gen.
oral tone Of the press which remains remark
abIv svmpathetlc and friendly This is entirely
anart from such startling charges Of Spanish
completely in the loss OF the Maine as appear in
to-day's Daily Mail" There is only one opinion
here. namely that the American Government has
shown remarkable forbearance in dealing with
the Cuban question. and that nothing can be
said in extenuation OF Spanish methods OF ad-
,ninistration and warfare in the island Not one
word OF criticism OF Mckinley is heard here; he
s generally and warmly praised for his self
restraint and dignity. for the best qualities OF
effective leadership and for not talking lightly Of
war.
Well-nformed fnanciers explain the raising OF
the bank rate as the natural result OF the serf-
Gus drain Of gold and the general apprehension
that II would continue. owing 10 the probable
collapse OF diplomatic negotiations at Madrid.
They still hope for the maintenance OF peace.
but can give no better grounds for their optim-
ism than the queen Regents aversion to war
and the fact that the unexpected has happened
al every turn OF the Spanish American crisis.
The feeling to-day in the Street has been more
sangulne in consequence OF private advices from
Paris and Madrid that the Spanish Government
was already inclined to meet America more than