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aJKi r\Y,i,, 6tATIT TWENTY-SIXTH YEAR. NO. 79. STEAD HAS SEEN THE CZAR And Heard Him Say That He Was Really in Earnest ANXIOUS fOR AID fROM AMERICANS Who Can Save From Failure the Plan to Secure the National Disarmament and Divert Men's Labor to the Ssrvice of Humanity Associated Press Special Wlro LONDON, Dec. 17.- William T. Stead, writing to the Associated Preee, say?: "I have seen the czar. 1 have heard from his own lips the earnest'desire of his heart that something practical should he done, and that Quickly, to divert to the service ot humanity some of the many millions devot ed to preparations for war. He lias taken the initiative in summoning the conference. He is prepared to give earnest of his sincerity by arresting the future increase of the Rus sian armament. Hut unless) he is supported by the people who detest militarism as well as those who groan under its burdens his well-meant endeavor will fail. AMERICA'S OPPORTUNITY "The American people can, if they will, prevent so fatal a catastrophe. As the greatest nnd the latest of the world's powers, they can, if they choose, save this supreme opportunity of the century from being sacrificed by the skeptical apathy of the governments. Hut to do this it will be necessary to act and' to act at once. "What is hoped of those friends of peace and enemies of militarism who turn their eager eyes to the great republic of the new world is that between now and the end of JatrUary the citizens of the United States will, by public demonstrations, formal reso lutions and by other methods by which a democratic people gives expression to its convictions and its aspirations, have mani fested to the world "their determination to help the czar to put this thing through. A national committee to protect the success of the peace conference, with local commit tees in every city in the union, would do much to achieve this end. ACTION IN ENGLAND "In England, where the difficulties are much greater, owing to the senseless preju dice against Russia, which has been the baneful legacy of the Crimean war, such a national-committee is already in course of formation. By the end of next month it is expected there will not be any considerable center of population which will not have held its public meeting demanding that en ergetic support should be given to the Rus sian proposals. "What the friends of peace in England confidently calculate on is that the appeal in the cause of humanity will find l the Amer ican people ready and able to respond. It ao, the grandest demonstration ever made of the peace-loving passion of the English speaking race will be within our reach. A joint Anglo-American representation of, say, fifteen men and five women, chosen from the foremost of our rare, charged with the mandate to proceed through Europe on a pilgrimage of peace to present an address of thanks to the czar, would roust- the conti nent. WILL ALL JOIN IN "Round the Anglo-American deputation would group themselves, in the first place, the representatives of the seven small states —Swerlen, Norway, Denmark, Holland, Belgium, Switzerland and Portugal—with an aggregate population of nearly 30,000,000 and with these reformers, the great interna tional delegation would hegin its crusade through Europe. In four weeks it would have shaken the continent from center to circumference." THE QUEEN S SYMPATHY The movement in favor of an internation al demonstration in support of the czar's peace conference is taking practical shape in Great Britain and is attracting much sym pathy from the queen and other members of the royal family, who are said to be aware of the entire sincerity of the czar. A public conference has been summoned to take place tomorrow at, St. James' hall, by the heads of all religions. It will be pre sided over by a representative of the Bishop of London. Mr. Stead will explain the views of the czar and the proposed interna tional movement and will read letter*from A. J. Balfour, the first lord of the treasury and Conservative leader in the house of commons; James Bryee, Leonard Courtney, i the Rev. Joseph Parker, Karl Spencer and others, heartily indorsing tlie movement. A ROTHSCHILD DEAD Baron Ferdinand's Cold Proved Sud denly Fatal LONDON, Dec. 17.'—Baron Ferdinand .Tames de Rothschild, M. P., is dead. He was the second M>n of the latae Baron Al phomio de Rothschild. He married his cousin, Evelina, sister of the lirst Lord Rothschild. He was a member of parlia ment in the Unionists;' interest for Vales- bury. The Baron way an intimatae friend of the Prince of Wales. It was,during the Prince's last Vieit to Waddeson, near Aylesbury, the seat of liaron Rothschild, that he injured his knee. The baron was a lavish host and en tertained tbe queen in 1890. Hfti death was 'Hidden. It wan supposed he was only suffering from a cold. The Perry Aground ASTORIA, Ore., Dec. 17—The United States revenue cutter Commodore Perry, which left this city this morning for Port land, struck on a rock near St. Helens in a thick fog. The Perry lies on the rock about amidships on the starboard aide, and is slightly listed. The steamers' Telephone and Undine attempted to pull the cutter off the rock, but were unsuccessful. At high tide tonight it is thought they will succeed in getting the Perry off. Blackmailers Sentenced SAN KKANCISCO, Dec. 17.—Myron H. Anderson and Klfic William* were tliie morning trntcni'vd to llv« jearvncfa in the »tiit<? prtion .a Snn Qucntin for huving ex ii>Mii! $2000 from Captain KevilLs of the Kawhide mine. ABOUT THE STATE The Alaska Commercial company has re ceived advices from its agent at Circle City stating that coal mining is being successfully prosecuted, and from one strike a cjpily yield of 100 bona is promised by next sum mer. J. C. Barkhausen, a clerk, aged 45, com mitted 6uicide Friday night in his room ou Ninth street, San Francisco. He stuffed the crevices in his room and'turned on the gas. Rarkhausen was despondent through lack ol employment. The cruiser Chitose, built at the Union iron works for the Japanese government, was out for her preliminary spin on the bay yesterday. She will have her official trial trip in the Santa Barbara channel next Sat urday, when she is expected lo make 22' A knots or better. Lizzie Franz of San Francisco, aged 14, has the distinction of being the youngest female burglar ever arrested by the police. She is behind the bars, charged with having broken into a lower fiat and carried off a number of household articles, some curios and jewelry belonging to the occupant. Next Monday Woods Bros., Stockton, will begin the work of cultivating 10,000 acres to wheat, the land being situated! on Roberts and Union islands. They are sure of a crop as far as any damage from drouth is con cerned, because 7000 acres of the land can be irrigated from the waterways along the levees protecting the land from the en croachment of floods. Two convicts are now in solitary confine ment! at San. Quentin prison for attempting to escape. They are Axe Jos, who is serving a burglary sentence from Santa Clara, and J. Zoniakosky, serving a sentence from San Francisco on a similar charge. They ob tained some tools from the jute mill and cut through the floor of their cell, intending to tunnel under the outerwall. i Reports received by Governor Budd) from the southern part of Monte-rey county rep resent that the people of that region are suffering for lack of food. The governor believes that the legislature when it meets should promptly make an appropriation for the relief of these people and has embodied such recommendation in hi? me-wage to the legislature. A San Miguel dispatch snjsthe opinion of prominent people there is that state aid is unnecessary. THE HERALD TO BE HELD IN LOS ANGELES The Convention of the National Educational Association Will Be Held Here Next July. Special to The Herald. Chicago, Dec. 17.—The special committee of the National Educational As sociation, to select the place for the next convention, to be held July, '99, decided tonight, after a long discussion, on Los Angeles. The above news was confirmed by a telegram received by Superintendent of Schools Foshay, who received the following telegram last night: Convention goes to Los Angeles. Unanimous vote. IRWIN SHEPARD The Inaugural Ball SACRAMENTO, Dec. 17.—1t is probable that the date fixed by the general committee for holding the inaugural ball, January 16, will be changed to January 0. Judge E. C. Hart met several memberrs of the Republican state central committee im San Francisco today, and they urged that the date be changed, as on January IV the first ballot for United States senntor will be taken, and on the evening preceding it the senators wilL desire to caftcus. Judge Hart has comimunicated with the mayor, and the latter will call the committee togeth er at an early date to consider the matter. Raising the Flag HAVANA, Dec. 17.—The Cerro suburb was evacuated todaj-by the Spaniard*. The Stars and Stripes were hoisted over many of the houses- of the place, while from a num iber of buildings Cuban, flags were displayed. LEADING OPPONENTS OF AMERICAN "EXPANSION" LOS ANGELES, THE RECENT GEORGE FRISBIE HOAR FROST BRYAN HAS HIS VIEWS ON THE ISSUES OF THE NEXT CAMPAIGN Silver the Main Question, Closely Fol lowed by Opposition to the New Expansion Idea NEW YORK, Dec. 17—The World will publish the following: William .T. Bryan is in town. He was found las* night (Saturday) at the Bartholdi hotel. Colonel Bryan declared himself SUNDAY MORNING, DECEMBER 18, 1898 an uncompromising opponent of the Mc- Kinley policy of expansion. He said: "It is too early at this time to discuss party polities for the presidential election of 1900, but I think the issues then will be free silver, anti-expansion, anti-imperialism and the rights of labor. "I have already expressed myself against imperialism and territorial expansion. The proposal to adopt the colonial idea of Eu ropean nations is fraught with the greatest danger. "What will he the fate of the treaty in the senate Ido not care to predict. While in Washington I sought all the information I could get. I cannot say that I learned sufficient to warrant me in expressing a positive opinion. "Do I think free silver will be an issue in 1900? Certainlj-. It will be the main question. "How about the labor problem? lam not prepared to answer that question." CHEAP MONEY IN AMERICA Brings a Borrower From Across the Atlantic MONOPOLY MAKES THE MILLIONAIRES Russia, Recognizing the Transoceanic Plethora, Will Offer Opportunity for the United States to Become for the First Time a Creditor Nation Associated Press Special Wire CHICAGO, Dec. 17.—James H. Eckels, preside-nt of the Commercial National bank, said today: "I am credibly informed that a great foreign power has sent representatives to the I'nited States, and they are now in New York, for the purpose of negotiating a loan, of immense proportions. If the source of my information is reliable it is the first case in the history of the United States of a foreign power borrowing here." A STARTLING STATEMENT The Chicago Daily News says: The statement may startle the general public, but in the financial world the report will cause no astonishment, although the action will be unprecedented in the mon etary history of the country. For nearly two months money has been "the cheapest thing in America," in finan ciers' phrase. For a fortnight call loans have been made in Wall street as low as % per cent, while short time borrowers with approved collateral are accommodated at 3',& per cent in Chicago. The board markets are absolutely bare of first class securities bearing more than 3% per cent. Todny 5 per cent coupon issues were bought on the exchange at 137, and high grade stocks paying dividends at the rate of 5 per cent per annum were quoted at 132. Chicago and Northwestern common was an instance. Firms making a specialty of investment securities acknowledge that the dlemand for values has exceeded the supply three-fold. Fairly safe issues have been absorbed and there is no diminution in the funds seeking placement. The national treasury states that for the current month money in circulation has in creased $20,303,722. This, following a gain of $50,000,000 for October, makes a total ex pansion of about $25,000,000 for the last sixty days. Compared with a year ago, the total ! circulation of all kind's of money is $165,795, --000 greater, and amounts in all to $1,886,800 --000. MORE MONEY IN SIGHT The perspective reveals even more. On the first of the year corporations will dis tribute about $1(111,000,000 in interest and dividends. Resides, exports are increas ing rapidly, while imports are decreasing quite as rapidly. The latest figures tell' that the exports of merchandise from this country exceed those of Great Rritain for the first time in the history of the two countries. The I'nited States is in the unique position of desiring to buy the American securities held abroad. It is this condition that has warranted a foreign government in making tentative overtures for a big loan here. The borrower is supposed to be Russia. The representa tives of that country were negotiating with French bankers some time ago for a large sum, but the transaction was not concluded. ECKELS' REMARKS Ex-Comptroller of the Currency Eckefe has heard of the overtures made by a for eign power to raise money on thisside. "The monetary condition of the country is today quite unlike anything we have heretofore witnessed," he said. "Despite the unusual activity in all characters of stocks and bonds and in general business lines, deposits grow in the banks largely be yond the expansion of loans. There cer tainly is no present and but little future prospect of a change. There can hardly be one with the amount of money flowing into the country from abroad and the increasing demand there for our products. Whatever discussion appeared some weeks since as to the raising of rates of the Bank of England and the Imperial Bank of Germany has I now- passed away. "It seems that so far as German needs are concerned London felt there might be trou ble in Berlin because the banks had not been prudent in advancing to so great nn extent on securities which the banks them selves weTe really interested because they had not the means themselves to finance id mf~\ t CMIC - XL " 1 PRICE FIVE CENTS them. This condition of great demand for money immediately rcllecttd itself in Lon don und Paris, and, though much less so, in Xew York. It is stated by those in a po sition to know that the chanige is now for the better, and though money is stilt wanted in Berlin there will be no great stringency or any difficulty because the situation was faced in good time. As a result no further advance is anticipated in the rate of the Bank of England. EFFECT OF PEACE "I doubt if the definite announcement ot the signing of the treaty of peace with Spain has had much, if anything, to do with the surprising advance in all characters of se curities. As a matter of fact, all the effecta of such an act had long been discounted, aa had every step in the war in so far as busi ness was concerned. Much of the advance is upon the basis of merit owing to general ly improved conditions. Some, hoaever, is purely speculative and may be earned fl> an extent that, will cause a reaction. This reaction, while it might be serious under other monetary conditions, would have less marked effect with the plethora of money on hand everywhere throughout tha country. So great is this that I have heard it intimated from good sources that there has been some real discussion of one of the foreign powers negotiating a loan in New York. GOOD MANAGEMENT "All this is accentuated by the fact that American interests are loaning abroad. The force of economics in management and ex penditure is not the least of the reasons for a betterment in value, of slow and mora thorough organization in carrying on great enterprises. The reduction of prices in so many things is compelled to be met by bet ter systems of administration and greater volume of business. Necessarily is this so iv all classes of industrials and railroads. "As for the banks, it is the greater volume of business alone which enables them with so great a reduction in the pay after trans acting the business, to make a fair return upon the capital invested." "All this thing benefits more than anyone else the great body of consumers. However apparently on the face' of things combina tions may seem to beat present for the ben efit of capital, an analysis of the real effect of them will show- that the consumer is tha largest gainer. The danger in such combina tions lies in their inviting more or less speculation, thus affording opportunity to managers to sacrifice the interests of the rouices vested in them tend to invite polit ical attack and cause participation in. pol itics by them. "However, these features can all be safe guarded and in time combinations made within the lines of laws and fairness, con ducted upon legitimate business principles, will be accepted here as much a part of ev eryday commercial life as they are in other countries, where this evolution was long since a fixture and an accepted benefit. "It is known that German institutions have paid iv the last five weeks as high ; s i per cent for six-month loans made in Wall and Lasalle streets, which is not excessive when it is recalled that the discount rate of the Reich bank is 6 per cent. "Money being dearer in France and in EngJand than in the United States, the in ference is logical that the foreign representa tives who are negotiating a large loan in this country are acting for the czar's govern ment." NO DETAILS KNOWN Late this evening Mr. Eckels was asked by the Associated Press if he could give any intimation as to which of the European powers had made overtures for a loan. He replied that he had no definite information in the matter, but that the whole subject had been suggested to him. in a conversation in New York in the course of which the name of the applicant had not been men tioned. "Of course the whole matter is aa yet hardly anything more than a rumor," said Mr. Eckels. "If true, it would be of vast significance as showing the tremendoul value that European countries are begin ning to sot upon the United' States as a source of financial aid. Beyond this I have nothing to add to the interview printed ia the Daily News this afternoon."