New-York tribune., 1905-08-31

Portsmouth. y. H.. Aug. 3O.-The excitement
and sober second thought is replacing the hasti-
ly formed impressions of last night. That Japan
has come out of the negotiations better than
was at first appreciated appears to be the gen
eral belief and even the Japanese who were
most depressed yesterday. are now accepting
congratulations on the conclusion OF an honor
able peace Baron Komura himself is inclined
to take this view of the situation. and a careful
analysis Of the basis of the treaty now being
drafted seems 10 warrant such an opinion.
In securing the southern half Of saghaIien
Japan acquires all of the island that is really
valuable Around the southern point of the
island curls the Japan current making the
climate more salubrious than it's latitude would
Indicate Below the fftieth parallel which is
to constitute the political dividing line, all of its
mineral resources and practically all of its forest
wealth lie. Above that line the climate is rigor-
ous the island is almost barren and is unin
habited, so that the portion which has been
sacrificed TO Russian pride will hardy support
the garrisons which must guard it Neither
country will fortify the island, that Japan
will be put to no expense or thai score; but. as
Japan will doubtless maintain for years. if not
for all time, her naval supremacy in the Pa
cifc. she will have no need for fortfaatiOns
ON Saghalien.
The Trans-Siberian Railway is improbable
and would afford Japan no revenue, though Rus
sia must maintain 1t because she holds Vladl-
vostok and while japan acquires possession OF
the Chinese Eastern Railwag only as far north
as Kwan-Cheng TIE, that is the greatest market
in Manchurie, and Hardin is a great Russian
town which might have proved troublesome
terminus for g japanese railway. From COM
mercial standpoint Japan has gained Corea and
.sIauchuris- The great work she has accom-
pIished in Coree, even during the progress of
the war may be accepted as an earnest Of what
she will accomplish in Manchu-.a-
Had Japan succeeded in exacttng an indemnity
from Russia she might have engineered hatred
in the Muscovite empire which her generosity
has so far averted as already 10 lead some en-
thusiasts 10 discuss the likelihood of q Russo
Japanese alliance. In the way of such an ALI
ance must stand the powerful influence OF Great
Britain. who befriended Japan in her hour OF
need. en- influence extended and strengthened
by the new treaty just negotiated. which will
afTYfr, nv
Gus ambitions on the part of that faction OF
Russian statesmen whose counsels precipitated
the disastrous war just ended
On the other hand, there is nothing to prevent
strong friendship between Russia and Japan.
and the prospects of such relations are enhanced
by the evident supremacy of Marquis Ito and
the probable influence of NJ. Witte. both OF
whom have long regarded closer relations be-
tween their respective nations aGOrding the
true solution of the difficulties which both have
encountered in the Far Eastern question.
In Welding her claim for indemnity Japan has
won the respect and admiration of all civilized
nations She has. il is true. made a great
pecuniary sacrifice. but with peace restored and
her future guaranteed she will have little diff
clIltv in meeting the Indebtedness which the
war has occasioned. and the best posted of
Japanese assert with confidence that her reve-
mes will soon increase TO point which will
leave the government no occasion for financial
anxiety.
Incidentally the outcome of the negotiations
and the result of the Treaty OF Portsmouth, as
II is 10 be called. can only inure to the benefit
Of the United States Free from all entanglinS
alliances. the United States. under the skilful
guidance of President Roosevelt has been able
TO play part which no other nation could sue
cessfully have executed, and the gratitude Of
both nations 10 the young republic OF the Amer
lean continent seems certain to pave the way
for more intimate commercial intercourse
The day in Portsmouth has been virtually
without incident. Messrs De Martens and
Dennison. accompanied by several secretaries,
went TO the navy yard this afternoon 10 begin
the actual work of drafting the treaty. They
spent the morning in general discussion Of the
work before them. They will Try TO conclude
their work by Saturday. and the envoys hope
10 sign the important document next Tuesday,
though that is close estimate. aud it would
occasion no surprise Il The work occupied more
time.
Minister Takahira Is far from well, and has
remained in his rooms throughout the day. but
the other ENJOYS have strolIel about the hotel