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THE NEW HOME OF THE NEW YORK CHAMBER OF COMMERCE. (Dedicated last month.)

in the transportation and shipping world are duly noted in contributed articles published elsewhere in this number of the REVIEW OF REVIEWS. One of these great events is the completion of the Atlantic steamship combination; the other is the opening of the new power canal on the Michigan side of the St. Mary's River, commonly called the Sault Ste. Ma rie. It was an auspicious time, this season of splendid prosperity, for the dedication last month of the stately new home of the New York Chamber of Commerce. Distinguished guests came from England, France, and other countries, and President Roosevelt spoke with a felicity that charmed everybody.

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FARMER TO BULLS AND BEARS: "Go it! I'm out of danger."

of currency; which, in turn, has been produced in
part by the unprecedented growth of the country's
business. The Treasury Department had, earlier
in the season, by the purchase of bonds, the ad-
vance payment of interest on the public debt, and
the deposit in banks of large sums of revenue re-
ceipts, done everything that it could within.
the limits of the law to put into active circula-
tion the money which would otherwise be lying
idle in the Treasury. But these exceptional meas-
ures on the part of the Treasury cannot always
be relied upon for relief. It is high time that
Congress should amend the banking and cur-
rency laws in such a way as to provide an elastic
scheme of note issues for times of need. The
subject was prominently considered last month
before the bankers' convention, which met at
New Orleans, under the presidency of Hon.
Myron T. Herrick, of Cleveland. It is also one
which it was expected last month that President
Roosevelt would mention in his message. Con-
gress will never have a more favorable time than
the present winter in which to pass some simple
measure providing for an expansion of the cur-
rency to meet the demands of business. The
farmers of the country were ready last month
for a joyous Thanksgiving, in view of the abun-
dant crops and good prices, and the battles of the
bulls and bears in Wall Street did not disturb
them in the least,-see the cartoon below.

A Lack of
Currency.

The reaction in
Wall Street
last month

seemed to have no detri-
mental effect upon business
conditions throughout the
country. It was due in
some degree to the shortage

It was natural that the annual meetLabor and ing of the Federation of Labor, at Immigration. New Orleans last month, should have been exceptionally interesting, in view of the recent importance and prominence of labor

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From the Journal (Detroit).

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THE EDUCATION BILL IN PARLIAMENT, -MR. BALFOUR SPEAKING.

(On the government bench are Chamberlain, Wyndham, Ritchie, Brodrick, and others, while to the right are seen three opposition leaders, namely, Campbell-Bannerman, John Morley, and Sir W. Harcourt.)

movements. Although the debates disclosed some differences in point of principle, and some personal acrimonies among leaders, the meeting as a whole showed a growth at once in the strength and the moderation of labor. Poverty was never so little visible in our cities, and work was never so abundant. In England, and on the Continent, however, there are many men out of work. The prosperity of the United States has, there fore, naturally stimulated immigration; and the tide is rising in a way which makes it probable that 1903 will bring the largest number of aliens to our shores that has ever come in any one year. It is a condition that affects both labor and citizenship. To meet this situation, it is said that Senator Lodge will at once urge upon Congress the new importance of his favorite measure for the restricting of immigration.

England does not cease to look Affairs in aghast at the so-called "American England. invasion," and there is reason enough, of course, why Mr. J. P. Morgan's name should be most frequently mentioned, - in view not only of the successful launching of the great Atlantic steamship combination, but also of the part that Mr. Morgan's firm has taken in the

new projects for building an elaborate network of underground railroads, locally known as "tubes," for the metropolis of London. Mr. Yerkes, formerly at the head of the Chicago street railways, with a system of projected underground London roads of his own, backed by the well-known banking house of the Messrs. Speyer, is said to have disturbed the Morgan plan by a strategic purchase of control over franchises which had formed a large part of the rival project. In Parliament the education bill has been slowly advancing, section by section, under a new kind of Parliamentary rule for applying closure, — that is to say, stopping debate section by section. Mr. Bryce and his Liberal associates are making a sturdy fight against the measure to give public support to church schools, but behind Premier Balfour is a large and obedient majority. In the field of politics, the chief British topic, apart from the education bill, was the plan of the Colonial Secretary, Mr. Chamberlain, to go in person to South Africa, and to spend some months there, in an endeavor to carry out reconstruction projects on the ground. The British Empire gets on very well when its several parts are left to govern themselves without interference from the center; but Mr. Cham

Photos, copyrighted, 1902, by. E. Purdy, Boston. Edward Blake.

Michael Davitt.

John Dillon.

THE IRISH PARLIAMENTARY DELEGATION TO THE UNITED STATES.

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John E. Redmond.

coveted office of a multi-millionaire Jewish merchant, Sir Marcus Samuel. Some days earlier there had occurred the royal progress of King Edward and Queen Alexandra through London streets,- -a pageant which had been postponed from the coronation festivities on account of the King's physical weakness at that time. Two commissions relating to the recent South African War have been at work in London, one of these, called the Remount Commission, dealing with scandalous charges relating to the purchase of many thousands of cavalry horses, and the other and far more important body being known as the War Inquiry Commission. This board has been sitting in secret, and is said to be making a thorough inquiry into the methods by which the late war was carried on.

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The Irish Troubles.

The Irish question continues to cause great disturbance. It is not easy for Americans to understand why the Irish leaders have assumed a tone so bitter and, in many cases, so openly disloyal. On the other hand, the government's new policy of persecution and imprisonment seems to mark the climax of English folly and stupidity. The immediate Irish demand is for a more rapid and thoroughgoing application of government credit to the buying out of landlords and the resale on easy terms to the tenant farmers. But it is not clear how the present tactics of the Irish party can advance this cause. In a general way, American sympathy has always gone out toward the Irish demand for peasant proprietorship of land, and for home rule of a kind analogous to our State governments. The visit to this country of John Redmond, head of the Irish Parliamentary party, accompanied by John Dillon, Michael Davitt, and Edward Blake,-three of the ablest and most prominent of his associates,-attracted great attention among Americans of Irish ex

JOHN ST. LOE STRACHEY, ESQ. (Editor of the London Spectator.)

traction, and resulted in the raising, at mass meetings in Boston, New York, and elsewhere, of many thousands of dollars for the Irish cause. Mr. Redmond's brother was, last month, sentenced to prison for six months on account of a so-called incendiary speech, and the Irish leader cut short *his American visit and hastened back home.

The Visit

King Edward was sixty-one years of Emperor old on November 9, and his nephew, William. the Emperor William of Germany, came to visit him at that time, and remained for some days with the King, subsequently making other visits in England, and taking active part in the shooting season. His visit occasioned an extraordinary amount of discussion in the English newspapers. In a speech at the Lord Mayor's banquet, Premier Balfour called the anti-German alarms of the newspapers "fantastic dreams." The Spectator, which has for some time taken the lead in warnings against Germany as England's one dangerous enemy, declared that the Kaiser had visited England to make trouble between Great Britain and the dual alliance of Russia and France. Specifically, the Spectator believed that the Emperor wanted to get England's active

support in the form of a mail contract for the Indian postal service over Germany's new Bagdad railway line, of which Russia is said to be extremely jealous. It so happens that just as the Emperor was arriving in England, Germany's sharpest critic, Mr. Strachey, the brilliant editor of the Spectator, was embarking for the United States, where, last month, he made the acquaintance of New York and Washington. The Daily News and other London journals thought that the Emperor's visit had more to do with Delagoa Bay and the future of Portuguese East Africa than with the Bagdad railway. The Daily Mail and other papers made the visit the occasion for criticising Germany's latest acts in China as hostile to British interests.

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Boer Generals

One reason for anti-German feeling and Other in England is the continued ovations Berlin Topics. given to the Boer generals by the people of Berlin and other parts of Germany. The Germans have not, however, contributed as much money to the Boer relief fund as had been hoped for, while the House of Commons, early in November, voted a grant of £8,000,000 in aid of the Transvaal and Orange River colonies for, expenses consequent upon the termination of the war. It is hard to take stock in the theory that Germany is seeking to stir up international strife, when the Kaiser's country has so much to occupy it at home. The debate on the tariff bill has been dragging slowly along in the Reichstag without conclusive results. The trade depression in Germany still continues. A trust conference was held in Berlin recently, but it did not attract wide notice.

France at Home and Abroad.

The French Government, it appears, has not been successful in its attempts to apply arbitration to the dispute in the coal mines that had led to extensive strikes in northern France. The trouble had proven more serious than we had anticipated last month; and it was not at an end when these pages were closed for the press. France and Siam have set a good example by signing a treaty which settles long-standing disputes, particularly regarding boundaries between Siam and French Cambodia. Siam now cedes to France 20,000 square kilometers of territory, and France, in turn, evacuates Chantabun, and restores to Siam the right to occupy the twenty-five kilometer zone on the right bank of the river Mekong. Various other provisions relating to ports, canals, railways, and so on, and looking toward increased intimacy of relationships, are contained in the treaty. The statistics for 1901 now show that France has ceased to decline in population,

M. Jusserand. (French Ambassador.)

Don Emilio de Ojeda
(Spanish Minister

TWO NEW DIPLOMATS AT WASHINGTON.

and is appreciably gaining. The transfer of Ambassador Cambon from Washington to Madrid has called out many expressions of hearty regard at Washington, New York, and in the American press. A remarkable dinner in his honor was given in New York last month by Senator Depew and Mr. James H. Hyde, attended by Cabinet ministers, governors, and eminent representatives of American business and professional life to the number of two or three hundred. There is a warm feeling in America for the French Republic. M. Cambon's successor at Washington will be M. Jusserand, who will enter upon his duties in January.

Spanish Affairs.

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This

second daughter on November 19. Economic
distress in the southern part of the peninsula
has called for a government relief programme.
The growing intimacy of France and Italy has
led to the proposal of a visit by President Lou-
bet to the King; but the Vatican is strenuously
objecting on the score that such a visit would
impair papal prestige. King Oscar of Sweden
has made a decision in the matter of damage
claims growing out of the joint action of the
United States and England in Samoa
eral years ago that is favorable to the claims
of Germany and adverse to our own.
decision must help to discredit the casual
sort of arbitration that refers a dispute to the
sovereign of some small state; but it will cor-
respondingly increase the prestige of so well-
constituted a tribunal as the permanent court at
The Hague. Russia's economic position is not
favorable, and there is much distress from famine
in Finland, from plague in the region tributary
to Odessa, and from heavy taxation burdens
everywhere. The most fortunate development
in Russia is the resignation of Pobiedonostseff,
the Procurator-General of the Holy Synod, -a
great man, indeed, but the arch enemy of liberal
ideas. Russia's much talked of retirement from
Manchuria is merely taking the form of a con-
centration of her forces along the line of the
railway, in strict accordance with her treaty
rights. There have been many reports of illness
in the Russian royal family, and particularly of
the Czarina's serious ill health.

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Monsieur Cambon goes from America
Important to an interesting country, whose

fortunes have always been closely re

lated to those of France. It is particularly important that France should continue to exercise a strong influence in Spain, and that closer bonds should unite these two Latinic peoples. The young King is winning much praise for his active and zealous interest in the affairs of the government and in the life of the people; but political conditions remain turbulent, and Premier Sagasta was obliged to tender the resignation of the entire cabinet on November 10. He has since formed a new cabinet, however, made up almost entirely of his former colleagues, with the redoubtable Weyler its strong member. The new Spanish minister to this country, Senor Don Emilio de Ojeda, was presented to President Roosevelt on October 23.

Another young king whose general European excellence of attitude and conduct has public approval is the sovereign of Italy. Queen Helena presented him with a

Other

Notes.

can News.

The favorable reports concerning South Ameri- revolutionary progress in Venezuela in the early part of October were followed by adverse news later in the month, and in November the word was confirmed that President Castro's victories were decisive. He entered Caracas in triumph on November 9. The revolutionists had plenty of men, but were out of ammunition; and Castro, learning of their needs and their discords, forced conclusions relentlessly. There was reason to believe that the success of General Matos would have been a fortunate thing for Venezuela; but the revolution is crushed for the present. In Colombia, also, the government has prevailed, General Uribe-Uribe having surrendered, on October 25, with 1,300 men, 10 pieces of artillery, and a large supply of ammunition. General Castillo also surrendered at the same time. Thus the Colombian revolution has died out, excepting for a detached phase of it on the isthmus. It is to be regretted that the Liberal leader, General Uribe-Uribe, should not have overthrown the present arbitrary and unrepublican régime.

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