New-York tribune., 1902-06-08

will be surpassed In magnifcence- The official
announcement has not yet been made respect
ing the procession from the palace to the Abbey,
but it will include many historical features OF
the ancient coronation. All the holders OF
medieval offices will be present in their robes
of office. Among them will be the Kings Cham
pion, carrying the standard; the Captain Gen
eral OF the Royal Archers Of Scotland, the Lord
High Constable. the Lord Privy Seal, the Lord
Chancellor the Lord President of the Council
and the Kings Bargemen and Watermen. The
brilliant uniforms will be reminiscence of the
royal pageants on the Thames, and the yeomen
of the guard will be in full array. This process
sion will probably be preceded by a line of royal
carriages with the special ambassadors. who
will be conducted to the choir stalls of the
Abbey While the order of the ceremonial pro-
cession the day after the coronation has not
been settled. the special ambassadors colonial
premiers and Indian princes will probably play
prominent part. The state landau on
high wheels, in which the King and Queen Will
drive through London, is essentially modern Gin
decoration and uphostering- 1t is not yet known
whether the Princess Victoria will be with them
or the Prince and Princess of Wales
Lord Kitchener and Lord Milner taking
charge Of South Africa about which the coun-
try will soon hear little as 1t does about
India, where the vast hives of the population
governed nobody knows how The immedi-
ate prospect is bright. since the soldiers and
burghers fraternizing. and there is universal
joy the cessation of hostilities.
The South African millionaires do not conceal
their apprehensions the contingencies of the
future when the language question, as com
promised will tend to reanimate the Dutch ele-
ments with ambition, and when the release of
prisoners will strengthen the resources OF the
intriguers. especially in Cape Colony. where the
indefinite suspension Of the constitution and the
administration of the largest South African
State by Lord Milner the direct agent of the
crown is likely to excite resentment They are
naturally pessimistic, since the exemption of the
land from taxation exposes the mining interests
to the certainty of carrying the burdens of the
various loyalist indemnity funds, and the slump
of South Africans since the settlement has as
tonished them.
The reaction Of the mining market has been,
however, a natural sequel to the prolonged de-
lay in making peace There was premature
rush to secure profits, and the whole line or
securities sagged, carrying consols with them
This is a temporary effect, since the resumption
of work in the Rand is now practicable, and
since consols must rise when the end OF the war
prevents further issues. and even the Chancellor
Of the Exchequer is pledged to resume the sink
ing fund arrangements.
Sir Robert Giffen, once the hope Of the stern,
unbending Cobdenites. is not satisfied with hav-
ing justified the revision of the fiscal system
based on free trade He has opened the way for
new departure in shipping policy by the evi-
dence before the select committee OF the Com
mons. Nothing could be more authoritative
than his demonstrations that the German trans
atlantic lines are subsidized heavily that they
can pay S1b per cent dividends with an earned
profit Of 15a per cent; that the American owned
ships form large proportion of the commercial
marines, and that the British ship owners are
exposed to ruinous competition and unfair condi-
tions Mr. Giffen's statistics are of immense I'M
nortance for the Cunard Line is the last nope
for an INDEPENDENT British commercial marine,
unless the Board Of Trade and Admiralty accept
the logic of his figures and join Canada and the
other colonies in liberal measures for subsldlzlng
the fleet of the new British anti-Morgan COM
tina+ion The question is whether sluggish
British opinion will wake up in time to prevent
Mr. Morgan's acquisition Of the Cunard Line by
offers which the stockholders cannot afford to
reject
Neither Sir Alfred Jones nor Sir Christopher
F,urness is so important factor IN the new
combination as the Dominion Government,
which bv its energy and imperial spirit is fairly
whipping the home government into action IN
defence of British shipping interests