New-York tribune., 1900-12-09
LONDON.
THE FIRST WEEK OF PARLIAMENT
BRINGS IMPLICATION AND
CANCELLATION.
INTEREST IN THE HAY-PAUNCEFoTE
TREATY-AMERIcAN COMPETITION IN
THE IRON TRADE-sR JOHN
TENNIEL FIFTY YEARS
WITH PUNCH"
Copyright: 1900: BY The New-Tork TrTbune.l
TBY CABLE TO THE TRIBUNE.l

IBY CABLE THE TRIBUNEl
London. Dec. S.-Tbe general results OF the
first week Of Parliament are concentration on
rbe Liberal side and Cancellation the part OF
she Government Lord Rosebery has shown
signs OF consciousness that there is a strong
movement in favor II his resumption Of party
leadership: and after the Radicals had been al
lowed 10 have single nights sport in irritat-
sng and drawing Mr. Chamberlain, the Liberal
Imperialists brought into the front line.
and the forces Of the Opposition were united and
well led This unexpected display Of Liberal
unanimity had an immediate effect upon the
attitude Of the Government Mr.. Chamberlain,
who had been irritable and at his worst on the
first night was at his best last night In a
most concilatory and statesmanlike speech on
South Africa he consented to take the Liberal
Imperialists into his confidence by forecasting
an intermediate state between military law and
home rule with revival Of municipal govern
rnent and an approach TO the general system
prevailing IN Jamaica; and he delighted Sir
William Vernon Harcourt and the Radicals by
assuming that means would be found for tax
ing the mines, which were the sole remaining
source OF wealth in South Africa. The heated
air OF the House Of Commons was suddenly
cooled: the Liberal amendment was withdrawn.
and there was a united Parliament with a rea-
sonable and conciliatory policy to respond in
the right temper TO infammatory appeals from
the Dutch convention at Worcester. II is by
sobriety Of judgment and conservatism Of spirit
on supreme occasions that the British Parlia-
ment, even when the giants Of debate are in
their graves redeems its reputation as a states
rnanlille body Of Legislators.
The Chancellor OF the Exchequer will probably
appear the Monday TO explain the
ways and means by which he hopes TO provide
for the latest instalment Of the war bill. His
estimate has fallen fat upon the market, because
IL is known 20 be incomplete, and his general
method of financing the war is condemned as
shortsighted. He viii exhaust the authorized
borrowing powers when the tenders for f2.OOO-
600 of Treasury bills are opened on Tuesday. and
viii have 10 pay discount rate Of 37s per cent
10 place them. He has been living from hand to
mouth and striving TO keep the floating debt
down 10 f10,000000 or Eli 600 900 by the OPEN
ing OF the year. when the Treasury receipts will
be increased and a considerable surplus viii be
available for reducing il. Experts estimate that
ne VIII not require power 10 raise more than
100000 before the end Of March. but admit
thar he win ask for fl0.O00.000. His financial
methods are considered overeautious by men in
the Street. who not deceived by transparent
devices for letting the country down easily and
not startling it with premature revelations Of
the magnitude Of military expenditures.
fOrSlEn aIdiFS nave again DSCoAut SNdSudht
Mr.. Kruger has dropped out OF sight in his Dutch
haven Of refuge General Mercier has been dis
missed by the English press with cynical con-
tempt and the Cars recovery is accepted as a
good omen for the peace Of the world. In China
a settlement is regarded as foregone conclu-
sion. The English press is careful to saddle
upon other Powers responsibility for the con-
donation Of outrages, but in reality expected no
other result, and Will be pleased to have The
complications ended and normal trade relations
resumed. The leader writers we'll know that
they have been talking in high key for the
benefit OF the galleries, and that they had no
faith in the fmpossibilities recommended by them
as the plain requirements Of the situation. 1t
suits their convenience and also favors the policy
OF the Foreign Office TO concate the German
Emperor who has been loyal ally during the
South African war, and 10 explain that the
United States has carried Russia and Japan
with IT, broken up the concert OF the Powers
and left the Empress at liberty 10 punish hose
who obeyed her orders. Judgment is reserved
respecting indemnity and the method Of 1nanc-
ing it and securing payment Of interest because
there Is a conviction that the action of the Pow
VIII be controlled in the end by the bankers
Of European capitals.
Public interest here in the disposition of the
Hay-Pauncefote Treaty is stimulated by special
Washington dispatches TO The Daily News
and The Daily Chronicle which deal fully
with the tactics OF the opponents OF the con-
Vention and Of the advocates OF the Davis
amendment The impression has been created
thst both factions are striving to force the For
eign Office 10 choose between making fresh
concession and rejecting the amended treaty
John Bull does not like the idea of being
squeezed under false pretences and CT getting
the worst OF diplomatic deal, especially when
he started of with generous impulses ana
granted in a spirit Of neighborly accommodation
everything suggested by the State Department
Lord Lansdowne is new 10 the Foreign ONCE
and viii not be predisposed 10 open his career
there by fresh concession TO the United States
which will call out unfayorable criticism by
the press and will not excite public enthusiasm.
and Lord Salisbury behind him will probably
take the ground that he misled by as
surances that the treaty would be accepted
without change. and that it will be wiser 10
revert TO the Clayton -Bulwer Convention than
TO patch up new one so clumsy as TO leave
the controversy unsettled.
The announcement that the Great Eastern
Railway has ordered six thousand tons Of steel
rails from Pittsburg revives discussion respect
ing American competition in the iron trade
The Times" and other journals have devoted
many columns 10 the subject during recent
months. and the veteran English ironmaster Sir
Isaac Lowthisn Bell, has made il the chief
theme Of a thoughtful address before the Insti-
tuition Of Engineers. Several engineering jour
mails take up the topic this week. and argue
That there is not any real cause for alarm. since
the imports OF steel and iron into the United
Kingdom from the United States wholly in