, 1893-05-03

ties in the Bank as security FOR the necesss.
~ advance. That looks as if they distrusted
the value of the real property in which tbs
Bank had looked up Its capital; but at present,
as usual, everybody is promised payment In
full: a scheme Of reconstruction has been put
forward under which, apparently, the de-
poSltorS are to accept preference shares in
part payment; and everything is so hopeful
That one only wonders why the Bank suspend
ed. The English of the whole matter seems
to be that during d mad boom in real pro-
perty III Melbourne, the Bank made great
advances on security only valid if the excea.
slye prices were maintained. They were not
maintained and now the Bank shareholders
must either realise at u depreciation, or wait
a few years till better times cons round.
Inc blow Is a great one 10 investors, Who
had thought deposits at 4 per cent. in Aus
tralian Banks almost as safe as ConEoIs.
The East is not quick to change. The
Khan Of Khelat, the head of all the chiefs Of
Beloochistan, and in some sense Sovereign
OF the country, is now under British protec.
ton and has for some years been described
as ruling fairly we'll. he has recently, how.
ever, grown suspicious Of his Ministry, ina.
glnlng, truly or falsely, that they favoured
a rising, or, as is suggested by q second tele.
gram, a palace revolt He resolved. there.
fore to give chem a rebuke in the true Asiatic
manner, which in India would, but for our
presence, he the only manner, and according
to a telegram, he ordered the Premier to
be executed, some other Ministers to be ma
tilated and FIVE Of the ladies Of the harem
to be put to death. His subjects probably
regarded this as an exhibition of energy
but the Government Of India considers the
proceeding too rough, and has called for an
explanation, besides ordering the Khan to
pay $4,000 for the support of the dead per-
sons families. Our treaty with Khelat does
not, we believe, enable us to interfere in the
internal administration Of the country.
Mr.. James Hamilton, in q letter to Tues.
days Times gives some very remarkable f.
cures as to the Withdrawal If money from the
savings banks which is going ON in the
North OF ireland owing to the sense of iuss-
onrlty occasioned by the Home rule Bill. On
March 3Oth, 1898, El,4I2 was paid out from
the D"ugannon Savings Bank, though in The
corresponding week Of 1892 only &494 was
paid out, and in that of 1891 only E98. The
sums "wained for Withdrawals afford still
more striking e yidence of panic. On March
-" - tno year, %A,1GS was warned, as
against El95 IN the previous year. OF course
there may be some local explanation, but it
SENS difficult not to agree with Mr.. Hanil.
ton that Home rule is the cause. BE ends
his letter by stating that as many Roman
Catholics as Protestants are Withdrawing
then money, and by expressing bis belief
that. the same process is going on in this
case Of the Post Office Savings Banks. In
France, curious enough, the sense of insecu-
rlty is producing an analogous effect. 1t is
said that the deposits in the Government saw
ings banks have decreased by four-and.l.half
millions sterling, owing to the belief Of the
peasantry and small investors that their
money lS not safe in the bands of the Govern
iuent.