, 1890-12-27

regret al DeluS COilpGIIeu-lI u6 Was 6OLnPcA-
ed-to destroy the reputation of dead officers
chosen by himself. We fail to see even now
why the jameson story was published, or why
it was impossible for Mr.. Stanley to say SIM
ply that he would submit the conduct of the
Rear-Guard to any distinguished and impair
tial authority for a secret inquiry. AS we
have throughout supported Mr.. Stanley's
claim to be considered a hero, though not a
philanthropist, We confess to the gravest dis
appointment at the deficiencies of character
which bis ttion reveals.
On : Jaw week, the Bank, unexpectedly
late in me day, raised its rate to 6 per cent, a
vem.nt waioh caused a fall III stocks and
)u. alarm. The alarm was increased by
bad US from New York, where on Monday
q pa set in, followed by a heavy decline II
rail " stocks, said in the Times telegram 70
hav originated with Mr.. Jay Gould, who
wis J to punish the Postmaster General
by low '9g the price of Reading shares, in
which Mr.. Wunamlkor is deeply interested.
The fall re@ cd as unusual in London, and,
money being dear, some stocks became UNI
saleable, and there was a kind Of panic on the
Stock Exchange, which, had money been
withdrawn from the Bank Of England, might
have become a real one. AS it was, dealers
in American bonds incurred great losses, and
F lAC AsuhNc " bC~CltC ming bAA~NSN
aboat as overloaded with securities which had
lost value. Happily, the Bank was enabled
to obtain two millions in gold from the Bank
of France and other large remittances, one
In particular of 5000, 900 from Brazil, relieved
the prevailing apprehension, though it was
in part revived on Tuesday by a very heavy
sale of C0nSols, attributed to o bank, but ac-
tually made by an American operator. The
situation, we are told wassfQr a moment really
serious, the banks, other than the Bank of
England, holding far less gold than usual. A
market like London, ia The midst Of peace,
and With business fairly prosperous, ought
ne TO be exposed to these recurring small
p lics but the experts are puzzled as to the
best rerSedy. Relaxing the Charter Act
would be nb'remedy at all.
Mr., yorley made a speech at Scarborough
ye8terd y week in which he declared that he
felt n alarm at the contest between Capital
and La ur which was breaking out not only
j.. his country, bat in the Colonies also. If
the unionist labourers thought, as was alleged,
only their class, the rich and powerful, he
said, had s., them the example. Yes, they
had set them the example, bit we deny that
they are setting such an example now indeed
we are not sure nat it is not the sympathy
shown to the unionist labourers by the richer
classes which has encouraged them to take
Intellectually selfish attitude towards unorga-
n:sel labour which they have been assuming
lately. Mr.. Morley himself held his ground
on the Eight-Hours question very firmly. He
said that the proposal of a legislative limit of
eight hours to the working day had died be-
fore it was born. As for the suggestion that
every trade ought to make choice for itself
what the working day should be, i that were
adopted, he should think, for his part, of go
ing to Turkey or Russia. To his mind, the
-ernative to q fixed number Of hours of
'abour was not a great number of strikes, but
the adoption Of Boards of Cancellation, not a
ground table" Of which he had seen enough,
but a. square table, in which the representa-
tvs d; the labourers should be ranged oppo-
site the representatives Of the employers, and
the justice of the question fairly threshed out
between them.
The American Government adheres to its
policy of compelling Canada to enter into a
commercial union with the United States by
impeding her prosperity. The owners of the
Buffalo Grain Elevator applied on Thursday
to the Secretary of the Treasury to withdraw
: from the Grand Trunk Railway of Canada its
privilege Of converting grain in bond through
the Unit d States. a privilege enjoyed for