New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-08-12
NEWS OF TWO CAPITALS.
LONDON.
THE ADJOURNMENT OF PARLIAMENT
AND THE END OF THE SEASON.
TALK OF AN ELECTION IN oCToBER-LoRD
RUsSELL's DEATH.
GCopyright: 1900: BY The New-York Tribunsl
IRH cAR1r TO TIE rnIRr-c,r

copyright: 1900 BY The New-York Tribune.I
IBH CABLE THE TRIBUNEI
London. Aug. 1.-THE adjournment OF Parlla-
ment this week was the final act OF London
season which, politically, socially and hnan-
cialIy has been gloomy. The wretched weather
Of the preceding week completed the depression
produced by the disturbed outlook abroad the
death OF King Humbert and the Duke OF SAKE
Coburg. the stagnatiOn in business circles. the
South African war and the China trouble. The
House OF Commons rose with a taCit under
standing that there will be general election
before it meets again Sir Michael Hicks-Beach,
the Chancellor OF the Exchequer, speaking al
Bristol this week almost stated as much, though
he declined to say whether the election would
take place In the autumn early next spring
The glorious uncertainty which hangs over the
date of a general election is one of the advan-
tages which the British Constitution confers
on the Government in office; the Ministers can
choose their own time for going to the polls. and.
Of course. will endeavor TO select the period
they think most likely TO serve party interests
In the present case it is now almost but not
quite settled that the first or second week in
October shall be taken
Mr.. Chamberlain and the advanced section OF
the Cabinet are strongly in favor OF this course
They argue that the war fever is running down
pretty fast already, and that by next spring.
when the nation has had more time to count the
cost in life and money OF cOercing the Boer re-
publcs it may have almost disappeared In Oc-
tober it will still be possible to beat the Liberals
decisiveIy on the khaki ISSUE and come in again
with a strong majority; but Lord Salisbury IL
not quite convinced that it is right to plunge
the country into the turmoil OF a general cleo
ton at critical a period. and for the present
withhoIds his consent. though he is expected to
give way when the time comes. The Queen has
a voice in the matter also. but she is not likely
to reject advice offered to her on the subject
by the Prime Minister.
Neither political party goes on its holidays in
happy frame of mind: the Liberals are disor-
ganized by friction between the Imperialist and
Radical sections while Sir Henry Campbell
Bannerman. who is the party's nominal leader.
is deeply mortified by the manner in which his
authority has been set at defiance by his fol-
lowers in Parliament, and threatens to resign
his position. In that case it is possible that Sir
William Vernon Harcourt might return TO the
leadership but this would mean a definite
breach with Lord Rosebery and the expansionist
group. The MinisteriaIists also little un-
easy; they are annoyed by the slow progress OF
the final stages of the South African war, which
( everybody expected would be virtually over by
/ this time. Notwithstanding the small numbers
| of organized Boer forces now in the field, Lord
Roberts is still unable 10 spare reinforcenen1S
! for China where they may be urgently needed
at any moment Indeed, he is constantly max
ing further drafts on the regular troops now re-
naming in Great Britain to supply the waste
/ caused by disease in his own ranks
/ In spite of the escape Of De Wet and Delarey's
/ clever capture of an outlying garrison Of Aus
tralians and Rhodesians near Glands River. the
Boer armies seem to be gradually reaching
the end of their tether. 1t is thought that
De Wet having deluded Methuen and Kitchener.
will slip across the British lines either north or
south of Pretoria and join General BOtha. but
as Butler is steadily pushing back the latter
leader from the southeast and as Lord Roberts
has cleared the Free State. he Will have large
part of his force available to operate from the
southwest. The process Of rounding up both
/ columns between Lydenburg and the Portuguese
frontier ought to be accomplished Lord
Roberts's greatest difficulties are a twofold dis
ease working sad havoc among his soldiers who
are suffering worse than from enteric fever
and dysentery.
Still more formidable are the plots OF disaffec-
ton and guerilla warfare which confront him
everywhere. even in districts under British Oc-
cupation. The news Of the Pretoria conspiracy
has provoked a tremendous outburst of wrath in
London society and in the press. Lord Roberts
has been severely criticised for some time for the
excessive lenfency with which he has treated the
so-called Boer rebels and this incident IS held
to justify all that has been said on the subject.
Several Cnionist journals exhort the Com
mander-in-Chief to take drastic measures-fn
other words, to do a little shooting burning and
conhscation. a leading South African expert
tells me that nothing will bring the BOer farm
ers 70 obedience but a well grounded belief
that his land will be seized and his house fred
if he continues to resist. but others who know the
TransvaaI pretty we'll say that. though treachery
and conspiracy must be sternly punished pro-
miscuous violence will defeat its own object
The South African Dutchman cannot be dra-
gooned into submission.
The City and the Stock Exchange are no more
cheerful than the West End. The stagnation is
worse than ever, and the prices Of most securi-
ties show a downward tendency. There has
been no perceptibIe recovery in the railway
stocks in which large proportion OF the
savings of the we'll to do middle classes are in
vested. The enhanced price OF COAL by its IN
creasing Of working expenses. has lowered divi-
dends all round. Some good judges now think
the limit of price has been reached and that
coal will go higher in the winter but railway
shareholders continue Respondent and look for
ward to further reductions in dividends.
The City is also a little annoyed about the
large proportion OF the new war loan which has
been allotted in New-York- The Chancellor OF
the Exchequer. in his anxiety not to be left
short OF subscriptions this side OF the At
lantic. gave American houses much larger pro-
portion Of their allotment than was expected
The result Is that many American allottees VIII
be freely Offering their bonds in the British mar
ket and the profit which English operators had
hoped to obtain by reselling to their investing
countrymen at premium will be considerably
curtailed. London brokers are a little sore at
finding that. thanks to Sir Michael Hicks
Beach's arrangement the benefits of this trans
action, such as they are will be mainly reaped