New-York tribune., 1901-03-03
LONDON.
GENERAL DEPRESSION OVER THE con-
TINUATIoN. OF THE WAR.
ENGLISH VIEWS OF THE sTEEI. coNso1I-
DATToN-SEEKING A SUCCESSOR TO THE
BISHOP OF LONDON-DIsCovERY
or AK ASTRONOMER AND
A GREAT LAWYER
f-opvrEhr, 1901: Ry The New York Tribunea
ny CARLE TO TIRE TRIBUNE

London, March There Is no sense of over
strain in England. as there was a year ago,
when Lord Roberts reversed the conditions Of a
disastrous and i'll managed war. but there are
signs Of WEAKNESS and staleness in public life.
The guerilla War still drags on. for the rumored
surrender Of General RotEa was premature nd
General DE Wet. in official. phrase. has been
forced north'-that is. allowed to escape at vrtu-
sIv the same point whore he crossed the Orange
River IN invading Cane Colony. Operations at
the Mining Exchange have been interrupted by
evidence that the raiders still afeid and not
yet reduced 10 the extremity Of negotiating with
Sir Alfred Miner and Lord Kitchener for the
general submission IF the fighting burghers and
the complete disclosure Of hidden stores Of am
rnunition The war goes on. with its terrible
mortality from enteric fever, There is no chance
for officers n distinguish themselves. and there
is neither glory nor prestige in ending il. hu:
merely grim. hard necessity. II is like pro-
tracted spell Of disagreeable. rainy weather,
and has dispirited everybody in England
While the war is no longer current topic Of
conversation. nothing has taken its place. The
China settlement does not interest the public.
even when DR.. Morrison asserts that a policy
of partial partition has begun with the delivery
of territory to Russia. and that more than one
power besides japan and England has remon-
strated vigorously against it,
Anglo American relations excite no comment
from the press, although the Foreign Office is
apparently allowing the canal treaty 10 lapse
without a word. unless there is some surprise
n reserve for Washington over sunday.
The debates in Parliament were never duller.
and there are no questions Of national politics
in which the electors are deeply interested. The
Maidstone election is a proof of stagnation in
politics outside Of London. To-day's contest
over the London County Council is chiefly re-
narkable for the holding aloof Of Conservative
voters who are in revolt against the wa-er
lords
Interest in the new reign viii revive when the
King returns. and this is the most cheerful topic
~ the time There viii be two court functions
next week at St Jarnes's Palace, delegations
from various bodies Of the United Kingdom be-
ing received in the throne room. There are
rurnors that the King Will soon make another for
eign journey, but these are clearly premature.
Many detailc Of the journey Of the Duke Of
Cornwall TO Australia and Canada still require
revision. and there many state affairs under
consideration, including the appointment 81
successor 10 the Bishop of London and the set
tenent Of the civil list. The Prime Minister in
reality makes this important episcopal appoint
ment. but the Kings wishes will presumably oe
ssoertsined and followed The Bishop of Win
chester enjoyed the friendship Of Queen Victoria
and his transfer TO London would be natural
II his health were equal to the enormous labors
az the metropolitan see The rumor that DIR.
Weldon. Bishop of Calcutta, viii receive the
appointment hardly seems credible. He was a
successful headmaster at Harrow. and school
masters have been the preferred candidates in
recent times for episcopal promotion, but he
has scarcely more than begun his work in India,
and his recall would be premature The Bishop
candidate. While the position Of the Bishop Of
London is rendered wellnigh impossible by the
conditions Of the ritual controversy I'm the Estab-
lished Church. it carries the presUmpt,vA right
10 the succession 10 the see Of Canterbury. and
cannot be lightly declined.
Apart from the renewal Of activity in the min
ing market. the money outlook has been un-
changed during the last fortnight. There has
been en- active demand for money this week
owing 70 the clearance Of an enormous amount
Of dutiable goods in anticipation Of higher duties
and taxes. and also on account of the issue
of excheQuer bonds. but the pressure will he re-
lieved next week, and the government viii
apparently he able 10 meet all expenditures for
the next three months from abundant revenues
there VIII be easy market until the middle
OF May. That win probably he the date selected
by the Chancellor Of the ExcheQuer fo- Issuing
The Indebtedness caused by the war
The mercantile community has been appalled,
by the magnitude Of The American steel COM
binstion headed by J. p. Morgan. The enor-
nous of capital under single control has
created the impression in the iron trade and
general business circles that American compe-
tuon is far more serious than German rivalry.
The phrase made in Germany" IS no longer re-
earded as menace 10 the prosperity Of British
industries. Experience has shown that while the
Fatherland has been converted from an agri-
cultural into manufacturing and mercantile
country, there are constant checks upon it's in
oustrlal progress. since overtrading causes de-
preston, and there are recurrent crises and
stagnant periods. The truth is perceived that
immense masses of capital cannot be concen-
trated in Germany as in the United States for
cheapening all processes Of production and dis
uioution. The United States Steel CORPORATION
y frankly described by financial journals like
me statist" as the biggest industrial monopoly
ever known. and capable OF making at a lower
prime cost as much steel as all the steel manu-
taeturers Of Great Britain put together. II is
easy for moralists TO add that in the strength
oi ths monopoly lies It's weakness. since there
VIII be an inevitable conflict with organized
lanor; but the process of extracting sunbeams
from cucumbers is never exhilaratinr Fven
"hen the sentimental Spectator COZ. ,edes thai
"eiore long more than half OF the worlds steel
pi"aocuon viii be controlled by the Morgan
uusI II yet argues that the monopolsts will NOT
.oio English ironmongers by the throat but will
60 theIn good rather than harm by teaching
Niein now 10 be scientific I'm business
inere have been two discoveries Of original
ent this week. One is the disclosure that
'HHho has bred an eminent astronomer ,n