We do not venture to suggest that the Its prognostication of the reception of Foreign Office should learn from their e: ese Loan was not very accurate. ample, but we should be glad to see follow' that, of Russia by establishing even The details of the Japanese loan, which is "in principle" British rights in the Yangtze to be issued next week, will be those we basin as Russian rights are being established indicated as probable a fortnight ago—that is elsewhere. to say, the amount will be £10,00,000 at 4 per cent, and the issue price will be 90. It The same paper in its issue of the 26th remains to be seen whether the whole amount of May has an article on the Russian de-will be offered at once or whether, as rumour sigh to abolish the Finnish Constitution, has it, £2,000,000 will be held back. There and says significantly can be little doubt that it will be taken up.
The net yield is fairly high, and the syndicate which has the issue in hand is powerful. Whilst we are not satisfied that japan has acted quite wisely in its national Boliey since the termination of the war with dino, it is to be admitted that the nation has a great commercial future, and that its developed resources are quite equal to the strain' of this addition to its obligations. Japan would do well to redeem some of its internal loans and to replace them by foreign teans, bearing a lower rate of interest, by Which means some 2 per cent might be saved, The money markets of Europe would not, look askance at a project of this sort. The Country is solvent and money lent to it at 4 per cent to take the place of existing obligations at 6 per cent and more would noe add to its indebtedness, and one good result would be to release money which would be very welcome to Japanese traders, who have been forced to pay very extravagant rates for accommodation even clu excellent security. More than one of the internal loans are ripe for redemption, We take the two following Notes from the Suturday The Times seems bent on making mischief between England and Russia over the Uhinese question. Is it really in keeping with the tradi of English higher journalism to describe a formal diplomatic assurance iven by Count Muravieff to our Ambassador inSt. Petersburg as "characteristic," thereby implying that it is a lie? Even if the news be confirmed that M. de Giers has told the Tsungli Yamen that the railway to will be made whether the Chinese like it or not, Russia is within the four corners of the agreement we have signed. It is merely feminine to call nines now, Ivis curious that the two English institutions from which one mizht expect most stability, Consols and the Times, are the two most sensitive to every breath of danger.
The most remarkable feature about " the Eights" at Oxford was the poor quality of the rowing of the crews in general and of the Balliol crew in particular. "Now College and Magdalen had some close races, but they wore not up to the standard of the head boats of the last few years. Balliol had five of the University crew, and great things were expected of them; but although they could paddle well, their performance in the races was extremely feeble. Of the others Worcester who made five bumps were the best. The art of applying the weight at the beginning of the stroke and of working hard with the legs seems to be rapidly disappearing on the Tu its first leading article the Sutnrduy seems to infer that our Government is about to give way to President Kui in which case it would have been better if it had never interfered, but had allowed the "enormous Uitlander majority" to make their own terms with the "Pretoria Oligarchy." In its second the Suturdey calls the Disarmament Conference the diplomatic picnic which has been inaugur rated so merrily at the 'House of Bosh,' and concludes that ''even though the various questions could all be settled today, new dev-lopments would soon breed now grievances; international litigation would become chronic, The barbarism of chivalry would at best be superseded by the pettifogging of a sharp attorney." The Suturday has an excellent appreciation of the late Francisque Sarcey.
There are a number of very readable Notes in the Spectator of the 20th of May, but we have only room for three of them Prince George's visit to Candia, reported in Inst Saturday's Times, passed off without hitch or collision, though twenty thousand Christian peasants had flocked into a town already crowded with Mahommedan refugees. The Prince, who arrived from Suda Bay in H.M.S. Dido, proceeded on foot to the Cathedral amid a scene of great enthusiasm, received the Mahommedan notables, held a reception at the house of Mustafa Bey, and attended service in the principal mosque. Afterwards at the déjetner given in his honour by Captain Shaw, Governor of the town, he Froposed the Queen's health, and,
Text read from the printed page and cleaned; old type leaves the occasional error.