New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-26

FAILURE OF IRISH BILL
RELIEVES CABINET.
Especial by French Gable to The Tribune


INC LliHe ministers smile is SUMMER than ever
ana encourages his Liberal followers IN the
mouse or Commons to hope for more decisive
leadership than they have received since Febru-
aFF. lie may be disappointed by the reputation
OF the Irish Councils bill by the Nationalists
out he IS not crushed by the action. which was
expected Mr. BirreLs bill VIII be withdrawn
ana the government VIII be reproached for a
legislative failure. but the Cabinet Will be de-
| hVered from the only question which there
We're serious differences Of opinion That bill is
an artificial compromise between Gladstonian
Home Rule and Lord Rosebery's local councils
and since the Nationaists will not have it Irish
legislation will be deferred until there is leisure
Tor producing the university scheme There
ought to be a concentration of Liberal forces now
that the main centre of disturbance has been
removed. Mr. Haldanes army scheme and the
small holdings bill which should be introduced
next week. Will be the main measures 81 the
session With an assortment of minor bills and
Parliament not likely TO assemble before autumn.
the Prime Minister'S method of discipIining the
Lords Is still kept in the background. The mar
kets have remained sluggish. with dull trading
and wasting prices except for breadstuffs and
cotton, of which the shortage of supply has
become formidable menace
OUTLOOK N SOUTH AFRICA.
The South African outlook would create gen
eral distrust. even if the American situation were
not confusing. Shrinkage in the production Of
gold must follow the mining strikes and the
repatriation of the Chinese and hnanciers do
not understand how England can get on with
out regular shipments from South Africa. 1t
will be a serious problem If the tariff reformers
are right in declaring that these shipments alone
enable England to settle unfavorable balances
of trade. The necessity for maintaining larger
national reserve of gold is generally recognized
by the 1nanclers but the banks are not making
any appreciabIe effort to solve the question If
the absorption ana disappearance Of South Afr-
can gold Stocks remain the inscrutable rnys-
terry Of finance. and economists cannot explain
It by any manipulation of statistics, The trust
movement IN British industry has been discussed
with Iuciditv in Nh Macrosty's new book and
the reviewers cannot conceal their surprise over
the trankness of the revelation Competition in
the United Kingdom Is already effectively regu-
lated by trusts. which have extended to every
important Industry. although they have not
abused their power nor raised prices. but have
been content with stopuirg waste
..,..,
~ ~ ~ ~ y nv -
Dorchester House has again led the way IN
social entertainment and redeemed the week
from the reprOaCh Of dulness Last nights din
ner for tho Duke and Duchess Of Cunnaught.
Prince Arthur and Princess Patricia was a brill
liant afalr. with hfty guests fnsHsh ana Amer
lean. ana was followed hy what was m'd"S'.y
called small dance. 10 which several hundred
guests We're invited. II IS described IN d'''"
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