New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-10-28
NEWS OF TWO CAPITALS
LONDON.
RESULT OF AMERICAN ELECTION
EAGERLY AWAITED.
LORD sALIsBURYs AGREEMENT WITH GER
MANY vED-DIsAPPOINTMENT
OVER DELAY OF RETURNING

VOLUNTEERS,
Copyright: 1900: By The New-York Tribune.l
my CABLE TO THE TRIBUNE.l

VOLUNTEERS.
copyright; 1900: By The New-York Trfbune.l
my CABLE TO THE TRTBUNEl
London, Oct. 27.-The English press, without
showing any partisan bias. reflects the interests
Of the mercantile classes in the result OF the
American election. II contrasts the apathy and
overconhdence now prevailing the Republi-
can side with the painful anxiety which was
felt four years ago, when everybody with any
thing 10 lose was intensely alarmed 1t also
presses apprehension lest the contest between
the two parties may be close. since many gold
Democrats are satisfied that the silver question
is dead and buried and may not stop to inquire
whether Mr.. Bryan Il he were in power, could
not strike blow against the credit Of the United
States and shatter the prosperity Of the coun-
try. Well informed journals. Ike The Statst,"
warn the mercantile community here that it is
not safe 10 take too much for granted. and that
the unexpected may happen in America If the
gold Democrats and independent voters fail TO
recognize the dangers Of the situation.
It is true that the Unionist party here. after
entering upon the canvass in a boastfu spirit
Of overconfdence. was seriously alarmed on the
eve of election by signs Of apathy, and pulled
itself together for q supreme effort. There are
indications in the strength of the American mar
kets which is reflected IN London quotations,
that a similar result is expected there; and here
the English mercantile community has so high
an opinion Of the shrewd, practical intelligence
Of the American people that II finds It difficult
10 believe they will take arms at the ballot box
against their prosperity. Other causes for the
recent good fortune discerned, but financial
experts and business classes here consider It
self-eyident that the defeat Of the organized at
tempt TO depreciate the currency of the United
States restored confidence. and so gave 1t the
first impulse TO the revival of American pros
perity which has become phenomenal
English opinion, with here and there a croak-
ing note Of protest, continues favorable to Lord
Salisbury's agreement with Germany Objec-
tors urge that he cid the right thing in a wrong
way in entering into special agreement with
Germany without securing the cooperation of
the United States Japan, and without ac-
quainting Russia and France with his design
The prevailing opinion is that the agreement
simply registers the principles of an enlightened
policy which the world is agreed, and pledges
10 them the support OF the contracting Powers
and their diplomatic cooperation in obtaining
general recognition for them. The third clause
IS not interpreted menace Of either punish
ment war. in certain contingencies. but as a
pledge Of concerted action. which may exercise
a strong restraint upon the ambitions OF Russia
and France and prevent the occupation OF Man
rhuria and the conquest of Yun-Nan. 1t is also
ronted out by various English journals that the
new agreement strengthens the resources for in
dependent action by the American Government
In forcing on negotiations with China and gradu-
ally whipping in the other Powers to support
reasonable and equitable settlement. One con-
sequence Of the convention is clearly foreseen
by fnanciers. England and Germany. by adopt
ing a self-denying agreement. have excluded
themselves from demanding territory in COM
pensation for outrages in Pelking and elsewhere.
They must take money, not land, in settlement
Of the bill of damages. and money is what China
cannot raise without help from the Powers
and that assistance cannot be rendered without
the establishment of some kind Of financial con-
trol over her customs international basis.
Not only are holders Of Chinese bonds greatly
relieved by the negotiation of the Anglo-Ger-
man agreement, which imparts value to
those securities, but hnanciers are expecting
large issues for an indemnity loan, with some
kind Of International guarantee The logic Of
these hnanciers is clear enough. Financial
claims against China for indemnities will compel
the Powers to lend her their own credit in pay
Ing the indemnities which may be levied against
her. and this process will involve the appoint
ment Of international commission to control
taxation and customs, and gradually increase
the credit Of the empire. Finance will be sub
Etituted for dismemberment and land grabbing.
London has had 4 great disappointment to-day
in the postponement Of the holiday fete, owing
70 the detention Of the Aurania through bad
weather. There were many contradictory re-
ports in circulation in the morning and I'M
mense crowds along the proposed line Of march
found il exasperating to give up the prospect OF
a thrilling town show on a bright day. The
interval Of delay Will be brief, as the Aurania
is in the Channel and the Imperial Volunteers
are eager for their triumphal march through
London. Queen "Bess" called out the London
Volunteers in the time Of the Spanish Armada
and there were subsequent musters When the
citys warriors were needed to fight with or
against the Dutch, but never before have they
returned across seas after arduous campaigning
seven thousand miles from the sound OF Bow
Bells The conduct of the volunteers has been
admirable throughout the campaign The
mounted section was first under fire at Jacobs
daL and fought afterward at Paardeburg Pop
lar Grove and Driefontein. The infantry had
severe engagement near Orange River. and ulu-
matelv marched with Hamilton from Bloem-
fontein 20 Pretoria, taking part in twenty-slX
engagements The battery was employed against
General De Wet at Lindley and elsewhere. and
rendered excellent service The pride Of London
has gone with this splendid fighting corps. and
million spectators have been disappointed by the
postponenent of their homecoming over sun
day Moreover, a large body of regulars and
volunteers was under orders for lining the
streets along the route, and elaborate prepa-
rations had been made for the reception Of the
soldiers at the Guild Hall and among the Ancient
and Honorable Artillery. The Aurania has vim
dicsted her reputation as a ten-day mailboat be-
tween Liverpool and New-York.
Lord Rosebery has shown the instinct Of lead
ership in raising his voice against the evils Of
raasrf n