New-York tribune., 1902-08-21
RITCHIE'S FISCAL POLICY.
4 LOWER TAX RATE THE FEATURE OF
NEXT YEARS BUDGET.
CONSOLS WEAK on TALK OF TRANSVAAL
LOAN ARCHBISHOP OF CANTER-
BURY MAY RETIRE.

BURY MAY RETIRE.
special The New-York Tribune hy French cahle1
Copyright 1902: by Tho Tribune Association)
London. Aug. u, | a. m.-One of the most
capa BILE financiers in the United Kingdom re-
marked YESTERDAY: There will be no immediate
change in the British fiscal system. Our people
will watch what goes in the United States
Our own industrial trusts and combinations are
working Well" Mr. Rit"hie is not ffnancier
who will he likely upset the settled order Of
the treasury policy. He finds high taxing rate.
and can easily lower il next year That viii he
the main change in the Budget next year Ihe
registration duties on grain Will prohaoiy ne
retained. since the imperial conference has sane
toned the academic principle that wherever
practicable British goods should have prefer
enCe in British ports. government In when
Mr. Chamberlain is the most prominent mover
is not likely TO reduce existing indirect taxa
ton when the conference has affirmed that
colonial goods should have preference in British
markets and British goods in colonial markets.
The precise form of this declaration has not been
disclosed. but officials present at the conference
admit that the principle of preferential treat
nnent within the empire has been favored and
that the future will disclose whether anything
can be done with it. There has been marked
reaction against the uneasness and alarm
caused by German and American competition
Sir Alfred Batemans comprehensive report on
British traae has been widely quoted and dis
cussed and has tended to dispel many illusions.
The alarmsts are now cautioned against draw
ing premature generalizations upon the effects
of German energy and American resources and
organiza tion.
Sir Edmund Barton sailed from Liverpool yes
terday on the Majestic. He expressed himself
80 tbo ,;ol opfar
ence He added that fast line between Can
ada and Australia would probably be estab-
lished If the British Government would take
share in the project
Ever since peace declared there has been
a steady decline in the price of Consols. The
market was very much depressed yesterday by
the knowledge that important Transvaal
loan is looming in the near future. The talk is
that the prospectus will be issued In october.
and that the amount will be from fo0,oO.on
to f40.10.0oo. The government may not actu-
ally require so large d sum Of money, but the
operation will probably embrace a reduction of
the floating debt and a settlement with foreign
holders of Transvaal railway securities.
While there Is no direct confirmation OF the
report that the Archbishop of Canterbury will
retire in the autumn, It is generally credited by
clergymen. His infrmity was so conspicuous at
the coronation that there amazement that
he should have undertaken to conduct so
plex a service. The Prime Minister will have
two OF the most conspicuous ecclesiastical nomi
nations at his disposal II the Archbishop follows
the Dean OF Westminster into retirement and.
as he is a Presbyterian rather than Church
man. his selections will be unusually Interesting.
The long ve1ed question to the establish
ment OF British Academy has been solved at
stroke. The King has granted a royal charter
Incorporating the British Academy. for the pro-
motion of historical. philosophical and phiio-
logical studies. The names Of forty nine emf
nent men are included in the charter first
fellows. The selection of the first nominees in
cudes the Earl OF Rosebery and Mr.. Balfour. as
representing politics; Viscount Dillon. president
of the Society OF Antiquaries. and Mr.. Lecky.
John Morley. Professor Bryce and Sir Leslie
Stephen literary men pure and simple
The political problem in South Africa is enter
ing upon critical phase. The Cape Town
respondent OF The Telegraph says that mem
bers OF the Legislative Assembly in favor OF the
suspension OF the constitution have decided not
to recognize Sir Gordon Sprgg their leader
though they will support him in all measures
necessary TO secure the results Of the
Dispatches from Utrecht state that the inter-
view between the Boer generals nd Mr.. Kriiger
was quite private. and even Mr.. ErloT. the
Presidents son-in-law. not admitted. The
statement semi-offcialIy circulated that the visit
was chiefly social in character. and unconnected
with politics. and concerned almost exclusively
with the collection of funds for the widows and
orphans. is generally accepted
The reception Of the Shah the Kings yacht
is described in the usual ceremonious manner by
the press. but does not have political sgnf-
canoe II is closing function of the court Of
the coronation The floating capital now
steams northward and the Prince Of Wales will
soon he shooting grouse the Yorkshire moors
|. y. F.
SHAH VISITS THE KING.