Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-04-16
4 RIFT IN TIE CLOUDS
The Situation in South Africa Show.
ing Signs Of Improvement for
the British.
Roberts Army Regarded as Irresis.
tible in Its strengthMarch
to Pretoria
Diplomatic Relations With Cont.
mental Powers lmproved-Re
view of a Week.

X
London, April 16.-A gloomy Lent has
closed With week of depression and
fore boding, but there are many CLEANS
of light and hope for the future.
The military situation is full VI prom
Use, With Lord Roberts army n,assed in
strength for the march of
800 miles to Pretoria and the long line of
100 miles from floemfontein 10 Cape
Town securely guarded. The raiders
have failed 10 break his line of commu-
nication, and the Dutch armies are pow
erless TO check the advance of Roberts
soldiers when they receive marching or
ders.
The diplomatic situation could not be
better for Britain, since her relations
with both France and Russia have inn
proved: The German government is
friendly, and helpful, and foreign inter-
lNentcn III South Africa is utterly i.n-
l.plaeticable.
The British policy is expressed by si,.
Alfred Miner in his vigorous speecn,
with the Significant motto. Never;
again. and behind it united empire.
| 1t prohibits any settlement or compro-
mise bs5 Which opportunities Will besof-
fesed for another War like the present
campaign.
Ireland plays an important and honor
able part III the empire, providing the
braAiest soldiers ard the only generals
| cipable of winning victories, and Dub
lin temporarily is appropriately the cap
ital With, a populace loyal ard devoted
TO the queen.
The United Kingdom. moreover, con-
Itinnes 70 show signs Of marvellous pros
fperity, even under the Storm and stress
Iof War. Almost every industry has re-
!eeiyed an impetus from the war. nota-
ny the iron and textile trades.
There has been a great increase of
production ard employment, and With
the temporary withdrawal of a large
BODY of workers in khaki To the seat of
ly,ar. skilled labor has been in demand
and com mands higher wages. Even the
approximations of economists respecting
tile unfavorable results of the suspcn-
sion Of gold mining in South Africa have
mot been fulfilled.
They expected that the value OF gold
wouidab be enhanced by the complete
stappage of the chief source of supply
and that prices of commodities would be
depressed by the scarcity OF gold, and
|the financial relations of the world
be destroyed. These results have not
followed the outbreak of war.
~ An able article in the Statist proves
leasily enough that the so-called guam
| stitative theory Of money has been prac-
ltical!y refuted during the last six
months, since, even With the contraction
lof the gold supply and the shrinkage OF
lcurrency in emulation, there has been a
lgreat rise in Wholesale prices OF coal,
iron. wool and other commodities. and
financial orditipns have bsen adjusted
\ without disturbance thru the power of
4 bankers To regulate credit by contracts
ling the Accommodations given to Their,
customers.
Whatever setback in prices there may
have been recently, tie leNel8is higher
than it WIS a I the outbreak Of the War,
aud every inIustiiy9of the Emitted King
dom is in a furnishing state of activity
and produc tiveness, without any sign of
financial disturbance here or on the
continent thru the cessation of gold
mining for six months n the chief
source of supply.
The money scarcity in the United
Kingdom, with the inevitable shrinkage
Iaof mercantile credits when increased
banking facilities are needed for the en-
I!arged volume Of industrial business,
leads the financial papers to discuss the
opposition whether gold shipments can be
from New York To ease up the
lsituation here.
Current opinion among Anglo-Ameri-
lean bankers is that no gold Will come,
n.
favor of the United States and large
4 purchases of American securities have
recently been made on European ac-
count and must be paid for trade ball
ances can not be explained away But
lit is not vet clear whether the purchas-
les of American securities are not spec
sl3ulative il, large part, and that the stocks
33Aeii iiot be shipped ard delivered
1t is certain that the expenses of the
4 5enornaous army Of American tourists
4 this year TO England and on the CONT
tI5nent will be an Important factor in this
4 problem of international exchange.
The most Intelligent financial writer's
admit that American prosperity sine
j. the defeat of Bryan has been even NOR
wonderful than English prosperity al
q It's height. 1t 10 ascribed b. experts Il
A the restorat ton of confidence, followed
si}by a succession of good harvests and ar
hcutburst of industrial activity Stres:
is laid upon the fact that the paper cur.
!, Irency, so redundant under Presiden
8 Cleveland that 1t threatened to drive ou
gold, is now so inadequate that banker!
y are largely increasing IT'S circulation
tsince the safety of the gold standard /.
Il assured.
The American presidential campaign
Z is regarded with philosophical compos
ure by journals here, as containing
promise Of much criticism Of everything
Il English. The Spectator derives conso
alton from the reflection that COM
what may, the queen viii not be carica
tured in America, but it warns English
i. men that democrats will fiercely attacl
"perfiidious Albion" during the canvas
and that the republicans will not siren
uously defend England. 1t counsel
!. Englishmen to keep their temper durini
81 the next six months, since American at
9 tacks upon Great Britain will certainl,
s end with the presidential canvass.
Commander Colwell closed his &C
j, counts and settled up his business witt
/. his naval successor at the American EN-
!. bassy on Thursday, but was ordered b.
his physician into hospital for the mex
week and forbidden to san by Satur
! days steamer for New York.
5 TOO MANY VISITORS AT CAPE