, 1891-07-22

llllS week DGell pQIl4SIlCQ IOI PEI lIllLUIllG II,
cheating at cards has been made a statutory
offence. Those who hushed it up, therefore,
condoned a grave breach of law. We sup
pose the answer to that is that the offence.
like assault and battery, is a personal one,
and that the Prince, as banker on the occa-
sion, being the sufferer, had a right to e decline
to proceed but the whole business has an
unpleaslng SAVIOUR, and cannot, in the inter
est of the Monarchy, be TOO soon forgotten,
The public sympathy will be with the Queen,
who has passed her life in efforts to keep high
society respectable.
A little too much is being said about the
success of the Barring liquidation. The liza
bllltles, estimated in November, 1890 at $50.
$4,000, have, it is true. been reduced to IS,
$4,000, against which there are assets Of Eli,
$4,000, thus showing a large fortune remain
ing for the old firm. But then, of these assets
no less than e. 800, 900 consists of Argentine
and Uruguayan bonds, valued at their price
on June lst. That is a low price, truly, but
then the question arises whether it is as low
as it will be when these great blocks of dis
credited stock are actually realised. II the
W. States get themselves right, even by a
well-managed liquidation then all is well but
If they indulge in more revolutions. or a vast
issue OF unsecured paper, then the result Will
not be so pleasant. There are two years and
five months still to run Of the guarantee, and
all that can be sad at present is, that if no
new misfortune occurs on the Plate, the
prospects Of the liquidation are reasonably
hopeful. Nothing shows the extent Of
modern business better than the way in which
Paris has borne its vast losses in the Pan
ANA Canal and London its losses on the Plate.
More fuss is made over any decline of
values in Ireland than has been made over
the loss OF a sum which would buy Ireland in
fee-simple.
Mr., Labouchere has addressed a long letter
to the Times, published on Friday. in which
he explains his position in regard to the
alleged alliance between Great Britain and
Italy. He never, he says. asserted that a
treaty had been made. His contention is,
that in 1887 Lord Salisbury, in order to facili-
tate a renewal Of the Triple Alliance, ex-
pressed to Italian statesmen an opinion as
to the probable action of Great Britain in the
Mediterranean IN the event of a war between
France and the allies The Italian Minis
tiers were convinced by this opinion that in
the contingency of their coasts being attacked
by France, they might count on our aid, and
that IN any case Italy would not suffer any
territorial loss were a war with France to turn
in favour Of that country That is very
nearly what we said last week had in all
probability happened, with this essential
difference. We believe that the Italian Min
istry were afraid Of being attacked separately
and suddenly for joining the alliance, and not
OF anything which would happen in the gen
eral war. 1t was as to this contingency, as
we conceive, that Lord Salisbury gave his
reassuring opinion, and not as to the general
danger. OF course even that helped to re-
cement the alliance, and therefore to preserve
peace for five more years. Peace would
not last a month after the alliance had been
dissolved.
A violent earthquake was felt in Northern
Italy, and especially in the Province of
Verona, during the early morning Of Sunday
last. 9th June) Many houses fell in, and q
great many persons were injured. 1t is certain
that almost all serious earthquake shocks are
felt In the immediate neighbourhood .of the
sea, which is perhaps Gone reason why Africa,
which IS the least indented by the sea of all
the continents, has no very great earthquake
regions. The coasts of the Mediterranean
have, indeed, been always specially liable to
earthquake shocks, from the earliest ages to
our own indeed, excepting the great arcbi-
pelago IN which Java and Sumatra are stu
ated, and a portion Of the Andes region in
Central and South America, there is hardly