The Providence news. (Providence [R.I.]) 1891-1906, 1903-10-14
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"One thing that Is responsible for the
tone OF depression that Is beginning TO
pervade business circles Is the continued
decline In the stock market Low prices
and absence or demand for investment Sc
curities have prevented corporations from
raising the capital required for better
ments and extensions. The shrinkage In
values has also curtailed the borrowing
power OF business men who now carry
their surplus In the shape OF stocks and
bonds."-Pittsburg Gazette.
whether Joe Chamberlain is destined
TO go down to defeat before the stolid ad-
herents OF Cobdenism or Is TO be victori-
Gus In his efforts 10 sweep John Bull into
an economic policy at variance with his
most cherished traditions only prophet
or an exceedingly good guesser can tell.
But whatever the outcome. he is making
a fight that must excite the admiration or
every lover OF grit and cleverness. he he
free trader or protectionist Hts speeches
so far have not lacked defniteness and
he has not hesltated In his shrewdly
conceived. II daring. campaign OF educa-
tion 10 outline plainly his policy. "-Phila-
delphia North American.
THE American Chinese treaty was sign
ed yesterday, and an imperial decree
makes II effective so far as China is con-
cerned or course IL must be ratified by
the senate, and ratifcations must be ex-
changed before IL will become operative
Tnasmuch as Russia has given this coun-
try assurances that such treaty will be
recognized by II, and as this country will
now insist upon A. IL will have two new
ports In Manchuria, whether Russia
evacuates or not and this Is about all
our interest I'm the matter. Meanwhile IL
will require some pretty dexterous diplo-
macy to manage the three-sided dinicul-
~ between Russia, japan and China and
settle IL without a resort TO arms. Chi
cago Daily Tribune.
But troops have been poured into /
Manchuria. a powerful war fleet has been |
concentrated, an energetic and not too I
scrupulous imperial lieutenant has been /
appointed I'm the person OF General Alex !
ief upon whom the largest authority has |
been conferred masses OF military stores
have been accumulated. domestic unrest /
suggests the familiar expedient OF a for I
elgn diversion. and In the ministry OF the
Tsar the war party. since NJ. Witte was
deprived OF the control OF the finances. IL |
in the ascendant. IL is an interesting sit |
uation. II will be worth watching Phil
adelphia Inquirer.
while many people may insist that
wrong was done to the cause OF non -parti- |
san government when Controller Grout |
was taken of the fusion ticket, and will |
still contend that n wrong was done l
against Mr.. Grout at the same time.
neither wrong has been righted by Mr..
9rout's action in coming out fatty for
Mcclellan. Only on the theory that three
wrongs make a right can the controller
Justify his course before the people
New York Press.
but whether Russia in control OF Man
'huria will consent TO the opening OF the
ports TO all nations Is another question.
10 doubt, to be decided as her own inter
,sts may dictate. China agrees 10 the
opening. having still nominal sovereignty
'ver Manchuria. but promise may be a
yreat deal easier than performance in the
'ase Buffalo Courier.