LATEST CABLE NEWS.

Wairarapa Daily Times, Volume XVI, Issue 5212, 23 December 1895, Page 3

LATEST CABLE NEWS.

(PnU AiwcUtlon-Eleetrio Telcgrspli—OopjrljthtJ THE AMERICAN CRISIS,

A FINANCIAL PANIC,

(Rami Dernber 22,6 p.M,I New York, Decomber2o. JL -Senator Hale has introduced a ttTßill to authorise the construction of / six new warships for coastal work at a cost of four million dollars each and also 25 torpedo boats. The presidents of the majority of the Chamber of Commerce have endorsed the President's Message, but they do not desire an outbreak of war. The London Eichango having telegraphed to the New York Exchange urging that, in the event of war, special steps should be taken to prevent excursion steamors hamporing the movements of British warships, tlio New York Exchange has replied —"Hope your warships are better than your yachts." A panic of an unparalleled character liaß taken place on tho Now York 'Change, and all international stocks have declined 10 per cent,, while Government stocks are unsaleable. The President of the Railway Board estimates that the crisis has caused a loss of a thousand million / dollars. financial men declare tho present generation will not see a full recovery from the effects of the crisis. The Senate recorded the Chaplain's prayers on behalf of peace. London, December 20. The London Exchange is extremely depressed, and there have beon immense sacrifices of American stocks. The Latest

(Received December 23, 10.30 a.m.J London, December 22, Stocks in New York continue to fall. The Baltimore inorcbants petition Congress to arbitrate, Cleveland's second message has been badly received, The President has signed a Bill, appointing a Commission, the members of which will probably visit Madrid, and have to examine the recent records bearing on the subject, It is said that high officials have been informed that the Washington Government Reserves Com-

will probably confirm 'mnglnnd'fl claim. [ The New York World implored Mr Gladstone to speak words of pence and fellowship to sootho the passions and check the clamour of the Americans. Mr Gladstone cabled tliuLhe dare not interfero; only common sense was required.