New-York tribune., 1900-12-23
NEWS OF TWO CAPITALS
LONDON.
TIE CHRISTMAS SEASON NOT so
DREARY AS A YEAR AGO.
THE QUEENS HEALTH-AUTHoRs'
HOLIDAY PLANS
Copyright; 1900: BY The New-York Tribune
LBY CABLE TO TEE TRIRuNEl

Trihunel
GBT CABLE TO THE TRIBUNE.l
London Dec. 22.-The English Christmas may
not be merry this year. but ii viii not be
dreary as 81 in 1899. There is no dread of
another Yorktown at Ladysmith, and the cup
NJ national humiliation after unexpected re-
verses is no longer brimming over as It was a
tvelvemonth ago. The campaign in South At
rica has not been going well during the lass
fortnight and the capture of four companies of
infantry at Dewetsdorp and the unfortunate
surprise Of Clements's force at Nooitgedacht
have been followed by the invasion of Cape
Colony ct two points; but the army of occupa-
zion is in undisputed possession of all railway
lines ane all important towns in the Dutch
territories. and neither temporary checks like
those Of the last fortnight nor a fresh foray of
the raiders can endanger the success of the Brit
sh arms achieved under Lord Roberts's leader
ship. There is also point Of view for the
entire field; the Boer was for long time
3 source of modification to Englishmen because
Of their conviction that there neither glory
nor honor in making laborious conquest of
two feeble republics when that contest was
rendered onesided by the overwhelming su-
vsriority of British resources. Englishmen now
console themselves with the reflection that the
advantages Of defensive warfare have counted
as ten TO one in favor Of the inferior force. and
that no modern army could have done better
body Of irregulars and guerillas like the Beers.
An enormous British army still remains in
South Africa. and requires reinforcements. but
the victory has been won. and cannot be un-
done and there is nothing to embitter the
Christmas cheer.
There has been a marked Improvement in
foreign relations during the last year. German
friendship has proved TO be real and earnest,
and French jealousy has been less mischievous
than was feared If it be Impossible to find out
what is going on in China, the Anglo-German
alliance is an evidence that British interests
have rot been neglected, and that no European
coalition can be formed against them. If the
Anglo-American relations are really clouded by
The Senate amendments TO the canal treaty. the
English press is slow in discovering it, and the
general public is incredulous and optimistic
The Saturday Review" true to its mossgrown
traditions finds in what it describes as "the
Nicaragua scandal proofs that the United
States Senate is playing havoc with the rights OF
nations and international agreements, that the
President Is a weak politician, and that Eng
land by her policy OF perpetual concession TO
the United States has herself 10 thank for the
whole pother. 1.-The Economist" in graVer
and more convincing argument lays stress upon
dEty of respecting treaties unIT their obiiga-
lions sre dissolved By mutual consent, ana ex-
presses the hope that Mr. Mckinley Will rise 10
the occasion and become the champion OF un-
sullied National honor and public faith Even
the mellow Spectator" which would accept
fortihcation of the canal guarantee of neu-
traIization, charges the Senate with treating
the Hay-Pauncefote convention as II II were
the work Of the merest ignoramus, and with
sacrificing treaty obligations with levity and
reckiessness. These weekly moralists take
more serious view Of the whole affair than the
daily press. The general impression is that the
transcontlnental railways are making use OF
the Senate to kill the treaty and prevent the
construction of the canal, and that the McKin-
ley Administration, rather than England, is un-
der attack If Secretary Hay has contrived in
the agreement with the Nicaragua Government
10 outwit the Senators and to include in 1t
guaranty Of his own convention with Lord
Pauncefote or if President Mckinley can offer
the Foreign Office some leeway for making con-
cessions based on equivalents it may not be
impossible TO patch UP some fresh compromise,
although the probabilities are against it. The
result will depend upon the Presidents own at
titude and defensive resources Neither the
Foreign Ofice nor the English people have any
desire TO prevent the construction of the canal
in the interest OF the freight business of the
railways.
Financial conditions are favorable for long
holiday on Change which virtually runs from
to-day to next Thursday. The strength of the
American markets has impaired steadiness to
securities Of all kinds here, and while the re-
serve in the Bank Of England is low, It will be
raised when dividends are released in January,
and money viii be in plentiful supply until the
middle or end Of March, when another squeeze is
expected A large amount OF American and
French money is now employed in London,
where good interest is earned, and this is not
likely to be w-ithdraw wn during the opening quar-
MI %oIlr rofz S0a
in Paris. which will reduce the French reserves
here and there have been elements Of grave
financial uncertainty in Germany. which are
minimized 10y the combined action Of the Berlin
banks in insuring the payment Of the January
coupons on mortgage bonds in circulation There
have been signs OF a crisis in Brazil over the
legislative raid on foreign banks. The year,
however is closing in nearly all the Continental
exchanges with reassuring evidences Of conf
oenoe and stability.
Court circulars" show that the Queen is
driving daily at Osborne. and this is accepted as
sign that the apprehensicns current In the
West End respecting the failing Of her health
are groundless II is noticeable that the royal
family party for Christmas is smaller than usual
and that the Cimiez plans are in a state Of un-
certainty without doubt there has been con-
siderable uneasness in the inner circles AT
court, the Queens loss Of appetite being consio-
cred an unfavorable symptom, and her anxiety
over the recent bereavements and harasslng
cares Of Princess Christians household being
noticeable. The Queen Is described by those
who have seen her recently as unusually nag
gsrc and shrunken.
The Ministers all in retirement in the coun-