The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-12-18
GENERAL BULLER'S DEFEAT.
Means More for Great Britain Than
the Mere Loss Of a Battle.

>"@~SO ~>ODS
BERLIN, Dec. 17.-General Buffers
defeat in the engagement at the Tugela
River has not affected the German mon
ey and stock markets seriously. Never
theless, the money stringency is grow
ing daily and private discount has
equaled the official rate since Thurs
day.
Financial circles are now expecting
an advance by the Reichsbank any day.
Apparently the Reichsbank is only
awaiting the action of the Bank Of
England. According to information
from within the bank, the advance IN
the rate may become necessary at any
moment, and the money situation will
grow tighter. In consequence of Cen
eral Buffers repulse London exchange
is already above the gold point. Only
the tacit agreement of the great private
banks not to embarrass the Reichbank
prevents large gold exports. The gold
movement from New York to London,
however, is expected to give temporary
relief.
Domestic industrials have remained
coal and iron centers, where improve
The province of Brandenburg will is
sue a loan Of 100000 marks for the
construction Of subsidiary railroads,
and the city of Berlin will build an
extensive system of underground rail-
ways.
At meeting of the Cologne Manu-
facturers' Association yesterday Man
ager Stellar reported upon the recent
Philadelphia conference, greatly belit-
Itling its importance. He advised against
the appointment of an international
committee to investigate the tariff dis
agreement between Germany and the
United States, and said:
Such tender consideration for tn.
Americans is misplaced. Only a self
assertive attitude on the part of the
German nation can impress American
public opinion. We must make the
Americans understand, also, that We
can dispense with them if necessary,
and we must demand that Germany be
treated. upon footing of decent, rea-
sonable reciprocity"
A distinguished member Of the diplo-
matte corps, in the course of discus
sion to-day regarding General Buffers
reverse, said:
1T means morally far more for Great
Britain than the mere loss of the bat
tie. Her prestige after the defeat Of
last week has fallen enormously on the
Continent, and it will be many years
before she will again venture to as
sumo a tone against a great Power
such as she took in the Fashoda affair"
Prince Franz Windisch-Graetz, who
was recently adjudged bankrupt on
account of debts incurred in gambling,
is the husband of a distant cousin OF
the Emperor.
The new Hamburg American Line
steamer Deutschland will be launched
at Stettin on January Sd in the pres
ence of the Emperor. Baron Won Buelow
will perform the ceremony of christen-
ing the new vessel.
Most of the Berlin papers, as we'll as
those throughout the country, comment
upon General Buffers defeat in seri-
Gus and dignified tone, although with
considerable undercurrent of satisfac-
ton at England's humiliation all round
1t is admitted that Great Britain is now
fighting to save her South African pos
sessions. The general belief is that
Sir Redvers Butler acted prematurely
and under pressure from the home Gov
eminent. The official papers take
rather gloomy view, as if apprehensive
of awkward complications.
The 'Kreuz Zeitung'' says: Great
Britain's decadence is now apparent to
the whole world
The ''Voerwaerts" hopes the war viii
result in the establishment of the Unit
ed States of Africa on republican ba-
sis, but it is also convinced that such
an outcome would not affect Great Brit
aims position as a great Power
The "Vossische Zeitung" thinks it
would be hopeless for England to match
herself against great Power
The military critics severely criticise
British tactics.