His Honour the late County Court Judge McIntyre has bequeathed the sum of £1,000 to Mr. Godfrey Gough, who was his clerk during the whole time Mr. McIntyre practised at the Bar, a period of forty years. The late lamented judge has acted according to the best and healthiest traditions of the Bar. It is the rule, not the exception, for a barrister to remember the services of a faithful clerk, and to treat him in a friendly manner, to which there is no analogy that we are aware of in any other profession or business. It speaks well for employed as well as employer, and we congratulate Mr. Gough on this recognition by his deceased master of his valuable, faithful, and friendly services during so long a period.

Insurance

THE programme of the Insurance Musical Society for the ensuing season is a very Musical Society attractive one, and we doubt not it will of London. prove satisfactory to all concerned. The fixtures are as follow:-Smoking concerts in the Great Hall, Cannon-street Hotel, on November 6th, January 15th, and March 12th, and a grand conversazione and concert at the Princes' Hall, Piccadilly, on April 30th. Practice meetings began on the 15th inst. for choir, and to-day for orchestra at the Fire Offices' Committee Rooms, Queenstreet, E.C. The programme for the opening night, 6th November, is especially interesting, and we wish the artistes all success on that occasion.

REFERRING to recent census publicaHomeless tions, which set forth the fact that nearly Children and sixty thousand children were without Life Assurance. homes or friends in America, and were dependent for shelter and sustenance upon public charity, the Chronicle well says: "The improvidence of parents was undoubtedly the chief cause of the misfortunes of these children. The history of their young lives, if written, would probably tell in thousands of cases how death suddenly removed fathers in the midst of

apparent strength and vigour, and sent innocent little children forth into the world with no protecting arm to guide them. The great recruiting sergeant of the vast army of the homeless is Improvidence. The strong protecting arm, which for the asking will be stretched over every home in the land, is life assurance. Only through the system by which the many stand ever ready to help and sustain the few, can individual misfortune be reduced to the minimum." This is the insurance system.

THE directors of this company appear to Manchester Fire have the greatest difficulty in finding a Office. secretary to their liking. A few weeks ago they advertised for one, under forty years The maximum age is now extended to 45. They are also prepared to pay a good price for the services of a good fireman. Some branch secretaries have, we hear, been strongly recommended for the managerial post; but the directors seem not to be satisfied. The fact that Mr. Northcott, the late secretary, is promoted to the board is significant, notwithstanding that any prospective intention of amalgamation with another company has been officially contradicted.

Automatic Fire Check.

THIS is a valuable patent invention calDouse's Patent culated to diminish, if not altogether to prevent, the loss of life from fire; assuming, of course, that it has been applied to inhabited houses. It is further of incalculable value, also where applied, for the protection of property on sea and land, as will presently appear. Take the case of the stowage of the hold of a ship: what is necessary to safeguard the property from "destruction in dock or at sea is an attachment to the ceiling or underpart of the different decks of one or more contrivances which would at once acquire automatic force by such accession of temperature as would arise from fire occurring. That is to say, were an outbreak of fire to occur in a ship's hold, just as soon as the heat then generated warmed up the place, the attachment to the ceiling or underpart of the deck would discharge a volume of non-combustible gas, large enough to extinguish the fire at once and absolutely, and without the slightest injury to the cargo beyond what had already taken place. Nor is this all, with the liberation of the noncombustible gas, alarm bells would be rung in the ship's cabins, or on the deck, not necessarily to alarm anyone, but to apprise all and sundry that a fire had broken out, and that it had been extinguished. Similarly with warehouses and with inhabited houses. The attachments for inhabited houses may be of a highly ornamental character, and may displace the usual centre ornaments upon ceilings; and once fitted in a house, the most nervously disposed may go to bed nightly, well assured that there will be no burning out and possible loss of life before the morning. Were fire actually to break out in a room, the access of temperature acting on the attachment would simultaneously extinguish the fire and rouse everybody. Such being the case, it is gratifying to observe that an invention of so much merit is already receiving appreciation. Messrs. Burroughes, Wellcome, and Co. have ordered attachments for their new premises, and the London and Brighton Railway Company have also ordered them, as well as other large manufacturing firms.

LEGAL HONOURS.

Information intended for publication under the above heading should reach us not later than Tuesday morning in each week.

The Hon. Sir Walter Francis Hely Hutchinson, K.C.M.G., Lieutenant-Governor of Malta, has been appointed Governor of the Windward Islands. Sir W. Hutchinson is the second son of the fourth Earl of Donoughmore. He was called to the bar at the Inner Temple in Michaelmas, 1877. He was appointed Colonial Secretary of Barbadoes in the same year, and he has been Lieutenant-Governor of Malta since 1884. He was created a Knight Commander of the Order of St. Michael and St. George in 1888.

Mr. Robert Edward Lloyd, solicitor, has been appointed Clerk to the Commissioners of Taxes for the Pimhill Division of Shropshire. Mr. Lloyd is clerk to the magistrates for the same division.

Mr. Thomas Sowerby, solicitor, has been appointed Clerk to the Commissioners of Income Tax, at Stokesley, in succession to the late Mr. James Coates Sowerby.

Mr. James Porter, solicitor, has been appointed Clerk to the Magistrates for the Conway Division of Carnarvonshire.

MERCHANT SHIPPING ACT, 1889.
52 & 53 VICT. CAP. 46.

An Act to amend the Merchant Shipping Act, 1854, and the
Acts Amending the same.-[26th August, 1889.]

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows :

1. Remedies for recovery of master's disbursements.—Every master of a ship and every person lawfully acting as master of a ship by reason of the decease or incapacity from illness of the master of the ship, shall, so far as the case permits, have the same rights, liens, and remedies for the recovery of disbursements properly made by him on account of the ship and for liabilities properly incurred by him on account of the ship, as a master of a ship now has for the recovery of his wages; and if in any proceedings in any Court of Admiralty or Vice-Admiralty, or in any County Court having Admiralty jurisdiction, touching the claim of a master or any person lawfully acting as master to wages or such disbursements or liabilities as aforesaid, any right of set-off or counter-claim is set up, it shall be lawful for the court to enter into and adjudicate upon all questions, and to settle all accounts then arising or outstanding and unsettled between the parties to the proceedings, and to direct payment of auy balance which is found to be due.

2. Restrictions on advance notes-17 & 18 Vict. c. 104, s. 149 -43 & 44 Vict. c. 16.-(1.) Any agreement with a seaman made under section one hundred and forty-nine of the Merchant Shipping Act, 1854, may contain a stipulation for payment to or on behalf of the seaman, conditionally on his going to sea in pursuance of the agreement, of a sum not exceeding the amount of one month's wages payable to the seaman under the agreement.

(2.) Save as authorised by this section, any agreement by or on behalf of the employer of a seaman for the payment of money to or on behalf of the seaman conditionally on his going to sea from any port in the United Kingdom shall be void, and no money paid in satisfaction or in respect of any such agree. ment shall be deducted from the seaman's wages, and no person shall have any right of action, suit, or set-off against the seaman or his assignee in respect of any money so paid or pur porting to have been so paid.

(3.) Nothing in this section shall affect any allotment made under the Merchant Shipping Act, 1854, or the Acts amending the same.

(4.) Section two of the Merchant Seamen (Payment of Wages and Rating) Act, 1880, is hereby repealed. 3. Register of deserters. Every superintendent of a mercantile marine office shall keep at his office a list of the seamen who, to the best of his knowledge and belief, have deserted or failed to join their ships after signing an agreement to proceed to sea in them, and shall on request show this list to any master of a ship.

A superintendent of a mercantile marine office shall not be liable in respect of any entry made in good faith in the list so kept.

4. Rule as to payment of British seamen in foreign money. -Where a seaman has agreed with the master of a British ship for payment of his wages in British sterling or any other money, any payment of, or on account of, his wages, if made in any other currency than that stated in the agreement, shall, notwithstanding anything in the agreement, be made at the rate of exchange for the money stated in the agreement for the time being current at the place where the payment is made.

5. Provisions as to steamships to apply to ships propelled by

26. Repeal.-(1.) The enactments described in the Second Schedule to this Act are hereby repealed to the extent therein mentioned, but this repeal shall not affect anything done or suffered, or any right acquired or duty imposed or liability incurred, before the commencement of this Act, or the institution or prosecution to its termination of any legal proceeding or other remedy for ascertaining or enforcing any such liability. (2.) Any enactment or instrument referring to any enactment repealed by this Act shall be construed as referring to this Act.

27. Definitions.-In this Act, unless the contrary intention appears,"Submission" means a written agreement to submit present or future differences to arbitration, whether an arbitrator is named therein or not.

"Court" means Her Majesty's High Court of Justice.
"Judge" means a judge of Her Majesty's High Court of
Justice.

"Rules of Court" means the Rules of the Supreme
Court made by the proper authority under the Judica-
ture Acts.

28. Extent.-This Act shall not extend to Scotland or Ireland.

29. Commencement.-This Act shall commence and come into

operation on the first day of January, one thousand eight hundred and ninety. 30. Short title.-This Act may be cited as "The Arbitration Act, 1889.”

THE FIRST SCHEDULE.

PROVISIONS TO BE IMPLIED IN SUBMISSIONS.

a. If no other mode of reference is provided, the reference shall be to a single arbitrator.

b. If the reference is to two arbitrators, the two arbitrators may appoint an umpire at any time within the period during which they have power to make an award.

c. The arbitrators shall make their award in writing within three months after entering on the reference, or after having been called on to act by notice in writing from any party to the submission, or on or before any later day to which the arbitrators, by any writing signed by them, may from time to time enlarge the time for making the award.

d. If the arbitrators have allowed their time or extended time to expire without making an award, or have delivered to any party to the submission, or to the umpire a notice in writing, stating that they cannot agree, the umpire may forthwith enter on the reference in lieu of the arbitrators.

e. The umpire shall make his award within one month after the original or extended time appointed for making the award of the arbitrators has expired, or on or before any later day to which the umpire by any writing signed by him may from time to time enlarge the time for making his award.

f. The parties to the reference, and all persons claiming through them respectively, shall, subject to any legal objection, submit to be examined by the arbitrators or umpire, on oath or affirmation, in relation to the matters in dispute, and shall, subject as aforesaid, produce before the arbitrators or umpire, all books, deeds, papers, accounts, writings, and documents within their possession or power respectively which may be required or called for, and do all other things which during the proceedings on the reference the arbitrators or umpire may require.

g. The witnesses on the reference shall, if the arbitrators or umpire thinks fit, be examined on oath or affirmation.

h. The award to be made by the arbitrators or umpire shall be final and binding on the parties and the persons claiming under them respectively.

i. The costs of the reference and award shall be in the discretion of the arbitrators or umpire, who may direct to and by whom and in what manner those costs or any part thereof shall be paid, and may tax or settle the amount of costs to be so paid

LONDON COUNCIL (MONEY) ACT, 1889.
52 & 53 VICT. CAP. 61.

An Act to further amend the Acts relating to the raising of Money by the London County Council, and for other purposes. -[30th August, 1889.]

Whereas the London County Council (in this Act referred to as "the council") require to borrow the amounts hereinafter named within the times hereinafter limited.

51 & 52 Vict. c. 40.-And whereas by the Metropolitan Board of Works (Money) Act, 1888 (in this Act referred to as "the Act of 1888 "), the Metropolitan Board of Works (in this Act called "the board ") were empowered to raise certain sums of money for the purposes in the said Act mentioned, and limits of time and amount within which the powers by the said Act granted might be exercised were fixed, and the powers of the board under the said Act have been transferred to the council :

And whereas the powers for the raising of money by the Act of 1888 conferred upon the board and transferred to the council have been partially exercised, but it is expedient that the council should have power to raise certain further sums of money specified in the First Schedule to this Act annexed for the purposes, upon the terms, and subject to the limitations hereinafter mentioned, and that the Act of 1888 shonld be amended:

And whereas it is expedient that the council should be empowered to apply for the purpose of certain loans by the council under this Act any money for the time being forming part of the Consolidated Loans Fund and not required for the payments of the dividends on consolidated stock :

And whereas it is expedient that the council should after the issue of consolidated stock be empowered to pay certain parts of the dividends due thereon out of the money and in the manner by this Act prescribed :

And whereas it is expedient that the council should be empowered to raise certain of the moneys which they are by this Act authorised to raise, and which it may be convenient to raise for a temporary period by the issue of bills with the consent of the Treasury for not less than three and not more than twelve months to be repaid out of money raised by the creation of consolidated stock under this Act:

And whereas it is expedient that the provisions with respect to unclaimed stock, unclaimed dividends on stock, and unclaimed money applicable to the redemption of stock, contained in the Act of 1885 should be incorporated in this Act:

Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same as follows : 1. Short title.-This Act may be cited as "The London Council (Money) Act, 1889;" and the Metropolitan Board of Works (Money) Acts, 1875 to 1888, and this Act may be cited together as "The London Council (Money) Acts, 1875 to 1889." 2. Construction of Act.-This Act shall be read and have effect as one with the Metropolitan Board of Works (Loans)

Acts, 1869 to 1871, and the Metropolitan Board of Works (Money) Acts, 1875 to 1888, but all consolidated stock created by the council after the appointed day fixed by the Local Government Act, 1888, shall be charged on the county rate in substitution for the consolidated rate.

3. Interpretation.-The expression "Parks and Open Spaces Acts" in this Act shall mean the enactments specified in the Second Schedule to this Act annexed.

The expression " Main Drainage Acts" in this Act shall have the same meaning as is assigned to the same term in the Metropolitan Board of Works (Loans) Act, 1869.

The expression "Artisans and Labourers' Dwellings Improve ment Acts" in this Act shall mean the enactments specified in the Third Schedule to this Act annexed.

4. Amendment of 51 & 52 Vict. c. 40, sect. 6, sub-sects. (b), (c), (d), (f), (m), (n), (0), sects. 7, 8, sub-sects. (i.), (ii.).—(i.) Subsection (b) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Parks and Open Spaces Acts had been limited to a sum of seventy-eight thousand pounds instead of sixty-two thousand pounds, and the second schedule of the Act of 1888 shall be read and construed as if the Clissold Park (Stoke Newington), Act, 1887, had been included therein.

(ii.) Sub-section (c) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolis Toll Bridges Act, 1877, including the cost of certain special works for the maintenance and repair of certain of the bridges acquired under the said Act, and the commutation of pensions, had been limited to a sum of nineteen thousand pounds instead of three thousand pounds.

(iii.) Sub-section (d) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolitan Bridges Act, 1881, and the Metropolitan Board of Works (Bridges) Act, 1884, had been limited to a sum of sixty-seven thousand pounds instead of thirty-four thousand pounds.

(iv.) Sub-section (j) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolitan Street Improvements Act, 1883, had been limited to a sum of seventeen thousand pounds instead of two thousand pounds.

(v.) Sub-section (m) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolitan Board of Works (Various Powers) Act, 1885, had been limited to a sum of three hundred and fifty thousand pounds instead of one hundred and fifty-one thousand pounds.

(vi.) Sub-section (n) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolitan Board of Works (Various Powers) Act, 1886, had been limited to a sum of eleven thousand pounds instead of seven thousand pounds.

(vii.) Sub-section (o) of section six of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended for the purposes of the Metropolitan Board of Works (Various Powers) Act, 1887, had been limited to a sum of fifteen thousand pounds instead of nine thousand pounds.

(viii.) Section seven of the Act of 1888 shall be read and construed as if the amount thereby authorised to be expended had been limited to a sum of three hundred and thirty thousand pounds instead of one hundred and forty-two thousand pounds.

(ix.) Sub-section (i.) of section eight of the Act of 1888 shall be read and construed as if the amount thereby authorised to be lent, and which vestries or district boards were thereby authorised to borrow, had been limited to a sum of four hundred thousand pounds instead of three hundred thousand pounds.

(x.) Sub-section (ii.) of section eight of the Act of 1888 shall be read and construed as if the amount thereby authorised to be lent, and which any corporation, commissioners, burial board, or other public body (not being a vestry or district board constituted as aforesaid, or board of guardians, the managers of the Metropolitan Asylum District, or the School Board for London), as therein defined, were thereby authorised to borrow had been limited to a sum of two hundred thousand pounds instead of one hundred thousand pounds.

(xi.) Section six of the Act of 1888 shall be read and construed as if an amount of sixteen hundred pounds had been thereby authorised to be expended for the purposes of the Metropolitan Board of Works (Bridges, etc.) Act, 1883: provided that the money expended by the board and the council under this subsection shall not, together with all money previously expended by the board for the said purposes, exceed one hundred and thirty-four thousand pounds.

5. Power to expend money for purposes of Metropolitan Improvements Act, 1889, Local Government Act, 1888, Hughes Fields scheme, for a council chamber, and Brockwell Park.—The council may from time to time, up to the thirty-first day of December, one thousand eight hundred and ninety, expend for the purposes hereinafter mentioned such money as they think fit, not exceeding the amounts limited in relation to such purposes respectively;

(i.) For the purposes of the Metropolitan Improvements Act, 1889, seven thousand pounds;

ii.) For the purposes of capital outlay incurred or to be incurred by the council, when they are acting, not as successors of the board, but in pursuance of authority vested in them by the Local Government Act, 1888, three hundred and fifty thousand pounds;

(iii.) For the purposes of building houses in connection with the Hughes Fields Deptford Scheme under the Metropolis (Hughes Fields) Provisional Order Confirmation Act, 1885, forty thousand pounds;

(iv.) For the purpose of acquiring a site for a council chamber and offices such a sum as the council, with the approval of the Treasury, may think fit;

(v.) For the purpose of acquiring Brockwell-park, in the parish of Lambeth, in the county of London, sixty-one thousand pounds;

Provided always that the money to be raised and the consolidated stock to be created by the council under this section shall be raised and created by them from time to time in such amounts and at such times only as the Council shall actually require, and as the Treasury shall approve, for the purpose of carrying out the provisions of the said Act in a proper and efficient manner.

6. Power to expend money for sundry purposes during the year 1890-28 & 29 Vict. c. 90-40 & 41 Vict. c. xcix.-44 & 45 Vict. c. cxcii. -47 and 48 Vict. c. ccxxviii.-50 and 51 Vict. clxxii.-51 & 52 Vict. c. lvii.-42 & 43 Vict. c. cxcviii.-50 & 51 Vict. c. 34-40 & 41 Vict. c. ccxxxv.-46 & 47 Vict. c. claxviii. 18 & 19 Vict. c. 120-25 & 26 Vict. c. 102-47 & 48 Vict. c. ccxxiii.-48 & 49 Vict. c. cxii.-49 and 50 Vict. c. cxliv. -50 & 51 Vict. c. cvi.-51 & 52 Vict. c. clvi.-51 & 52 Vict. c. clariv.-The council may from time to time during the year ending the thirty-first day of December one thousand eight hundred and ninety, expend for the purposes hereinafter mentioned such moneys as they may think fit, not exceeding the amounts limited in relation to such purposea respectively : (a.) For the purposes of providing station-houses, fire-engines,

fire-escapes, hydrants, fire-plugs, and permanent plant for the purposes of the Fire Brigade Act, 1865, ninety-five thousand pounds, and such further sum as the Treasury may approve ;

(b.) For the purposes of the Parks and Open Spaces Acts, forty thousand pounds;

(c.) For the purposes of the Metropolis Toll Bridges Act,

1877, including the cost of certain special works for the maintenance and repair of certain of the bridges acquired by the board under the said Act, and the commutation of pensions, two thousand pounds; (d.) For the purposes of the Metropolitan Bridges Act, 1881, and the Metropolitan Board of Works (Bridges) Act, 1884, seventeen thousand pounds, provided that the money expended by the council under the authority of this sub-section shall not, together with all money previously expended by the board and the council for the said purposes, exceed seven hundred and ninety-one thousand pounds;

(e) For the purposes of the Thames Tunnel (Blackwall) Acts, 1887 and 1888, three hundred and thirteen thousand pounds; (f.) For the purposes of the Thames River (Prevention of Floods) Act, 1879, one thousand pounds, and such further sum as the Treasury may approve;

(9.) For the purposes of schemes made by the board under the authority of the Artizans' and Labourers' Dwellings Improvement Acts, two thousand five hundred pounds, and such further sum as the Treasury may approve; (h.) For the purposes of the Metropolitan Street Improvements Act, 1877, one thousand pounds, and such further sum as the Treasury may approve, provided that the money expended by the council under the authority of this sub-section, together with all money previously expended by the board and the council for the said purposes, shall not exceed four millions three hundred thousand pounds;

(i.) For the purposes of the Metropolitan Street Improvements Act, 1883, one thousand pounds, provided that the money expended by the council under the authority of this subsection shall not, together with all money previously expended by the board and the council for the said purposes, exceed seven hundred and eighty-two thousand seven hundred pounds;

(7) For the purposes mentioned in section one hundred and forty-four of the Metropolis Management Act, 1855, and section seventy-two of the Metropolis Management Amendment Act, 1862, and for the purposes of any improvement effected by the council and sanctioned by Parliament expenditure in relation to which is not otherwise specially provided for by this Act, one hundred thousand pounds;

(k.) For the purposes of the Metropolitan Board of Works (Various Powers) Act, 1884, one thousand pounds;

(1.) For the purposes of the Metropolitan Board of Works (Various Powers) Act, 1885, one hundred and sixty-six thousand pounds;

(m.) For the purposes of the Metropolitan Board of Works (Various Powers) Act, 1886, five thousand pounds; (n.) For the purposes of the Metropolitan Board of Works (Various Powers) Act, 1887, one thousand pounds; (0.) For the purposes of the Metropolitan Board of Works (Various Powers) Act, 1888, ten thousand pounds; (p.) For the purposes of the Raleigh Park, Brixton, Act, 1888, twelve thousand five hundred pounds. (To be continued.)

AN ADVERTISING KING.

Two

system,

WHEN the annals of advertising are brought "up to date" -everything nowadays must be brought "up to date"they will present no more interesting and striking chapter than that which will treat of the pluck and enterprise displayed by the Hon. H. H. Warner, of Rochester, New York. This gentleman, who is now on a visit to the metropolis, has been literally besieged by interviewers, and the information he has vouchsafed to pressmen eager for "good copy" is really excellent reading. Everything he does is on a gigantic and unprecedented scale, and everything he says is marked by determination, shrewdness, and rare comprehensive mental power. hundred thousand pounds per annum is a marvellous sum to be expended in advertising a medicine, yet Mr. Warner finds it profitablo to exceed that enormous expenditure, in order to make the already far-famed "Safe" Cure still more universally famous. It was a strange transition-from the fire and burglar proof safe business to the proprietorship of the most widely-known medicinal preparations of this or any other age; but it was a change characteristic of the man. In 1878 he had acquired an ample fortune, and though only in his thirty-sixth year, had decided to abandon commercial life, and devote himself to occupations more congenial to a mind of more than ordinary vigour, and strongly imbued with that spirit of scientific research which has made the latter half of the nineteenth century one long and brilliant chapter of marvellous discoveries in every branch of science. It was then that an insidious disease, brought about mainly by the strain of active commercial life upon his crept upon him, and gradually undermined his splendid physical condition. It was a disorder of the kidneys, pronounced incurable by the best-known practitioners of America. The man of fortune was appa. rently doomed in the prime of life to a lingering and painful illness, which must have ended in death if chance had not stepped in. And what a chance!-a so-called old woman's remedy, which had almost fallen into desuetude! But it saved him, and Mr. Warner, at the age of forty-seven, with his tall and powerful frame and healthy complexion, is a very different man from him who, only eleven years ago, was booked by his medical advisers for another sphere. Here, then, was a man who, having undergone a long and painful illness, utterly incurable in the hands of the most eminent doctors, was gradually restored to perfect health by what is vulgarly termed "a fluke." Mr. Warner relates in his own terse and determined manner how, after serious scientific investigation and mature reflection, he was compelled to admit that the remedy which had rescued him from an early grave was the only specific for kidney disorders. Subsequent experience proved incontestably to him that the same medicine was equally beneficial in cases of disordered liver. Then the humanitarian principle of Mr. Warner's character-always with him a strongly-marked trait-asserted itself with redoubled force and energy. The cure that had worked such wonders with him he determined to popularise to the best of his ability, and this only was the foundation of that tremendous enterprise which, in the incredibly short space of ten years, has extended to the four corners of the globe. Branch establishments of the original Rochester house have sprung up all over the world, and it may be safely argued that whenever the sale of a specific so universally famous as Warner's "Safe" Cure increases with time, instead of diminishing, there are sterling curative elements in its composition which may prove the means of saving the lives of thousands who yearly succumb to the many terribly prevalent forms of kidney and liver disorders.

PUMP COURT.

If a reduction might be made of a quarter per cent., why not of one, or more than one per cent.? Again, if credit is only an abstract right, why should it possess the interest

has won.

CITY OFFICES, 37, WALBROOK, E. C.

OCTOBER 16, 1889.

Pro Lege.

MR. GOSCHEN WINS.

MR. GOSCHEN has fought long and resolutely, and he He has carried his conversion scheme of the Three per Cents., and presumably we are gainers. We are the better off by a quarter per cent. That is his contention, as, when he introduced the scheme, it was his proposition. We wish to be fair to him, as it is not given to the most prescient to see the end of vast transactions from their beginning. Theoretically, saving in the charge for the public debt is commendable, patriotic, obligatory; but what as offset to the quarter per cent. saving has attended Mr. Goschen? In the first place, he has raised this constitutional issue: Should a Minister of the Crown do as he pleases in the matter of Treasury bills? The honour of Mr. Goschen is unimpeachable; but supposing it were otherwise, or rather let us assume that Mr. Goschen's successor were an unfound out and reckless promoter of public companies-how many Treasury bills, with or without the assent of his colleagues, might not such a man issue, and to what purposes might he not apply them? No doubt this danger has suggested itself to Mr. Goschen and it is conceivable that he has in contemplation safeguarding legislation; but on the other hand the danger may not have occurred to him. We invite attention to it as one of the offsets to the saving effected by the debt conversion. Mr. Goschen has of late been doing so much in Treasury bills, making new issues of them to retire old ones, and other new issues to maintain a fair average balance as public deposits in the Bank of England, that the tendency would be so far safeguarding were he merely to be called upon for a return of the Treasury bills issued by him in connection with the conversion scheme.

Next, as Mr. Goschen is an acrimonious and jerky speaker, it is a pity to have to put him in contrast with Demosthenes. That great orator, in referring to money and credit, observes: "There are two kinds of propertymoney and general credit. If you were ignorant of this, that credit is the greatest capital of all towards the acquisition of wealth, you would be utterly ignorant." The point here against Mr. Goschen is that as credit takes the place of money, and exacts the same charge for its use as money, the reduction of interest on the Three per Cents. is calculated to raise such an issue as the right of credit to demand interest, especially on the same scale as money. For it is conceivable that were the firebrands of modern Radicalism to get hold of the principle here involved, an effective popular use might readily be made of it. Credit is not money, although it undoubtedly has the effect of money, and, closely looked into, it is an abstract thing exactly what of right appertains to a concrete thing. Moreover, this consideration, combined with the new precedent of reduction set by Mr. Goschen, would acquire a force which it would be difficult to oppose,

popular clamour on such issues as these is obviously a heavy price for the conversion scheme, now brought to a successful close. But as remarked at the outset, it may not have been foreseen by Mr. Goschen. Presumably in matters of finance, what he does not know is not worth any man's knowing, but even with the best-informed, wisdom may be found to follow the event.

Last, here is a bone of contention, not new, but as yet not much talked about, which should have suggested abstention from debt conversion by Mr. Goschen, if for no other reason than that he is the finance minister of a Tory Government. On what principle can we defend interest, not interest for an abstract credit merely, but interest for the "material credit"-gold? Adam Smith, followed by Ricardo, McCulloch, and others, but not latterly, towards the close of his life by Mill, broadly justified interest on the formula of demand and supply. You want my credit or my money, and you must pay for either. This is plausible until you reflect on the accumulative power of human energy without interest. How much does a man earn in a lifetime by simple addition? Having got this question answered, another follows: What rate of interest would serve to double the income by addition assuming the duration of life to be the scriptural three score and ten? One per cent. is the rate that equals human accumulation by addition. Go beyond that rate and you give to credit or to money a greater accumulative power than is accorded to human effort. The necessity for this plain speaking is imposed on us by the successful conversion scheme. Thoughtful men among our readers will recognise the gravity of the equivalent paid for the conversion here suggested, while readers of an unreflecting turn of mind will pass by the point with a notional acquiescence. We can only hope that other subjects will presently engage attention, and that the conversion scheme, with its contingent dangers, may soon be forgotten. There are many anxious questions before the public, and there are others in the near as well as in the remote distance. The last agitation we can wish for is one about a rate, or the rate of interest, and we cannot abstain from repeating that the price of the conversion of the Three per Cents. has been a heavy one. At the same time, we cannot seriously blame Mr. Goschen, as he, like the rest of us, is human.

THE STRIKE MANIA.

We have not yet got to the end of the strike movement. In all directions there is combination where none previously existed; and with the promotion of a Bill in Parliament to make eight hours in mining a legal working day, unrest and dissatisfaction will receive a new impulse. Bearing in mind that the leading antecedent factor in trade revival was the naval scheme of the Government, it is instructive to turn to the directory of the iron and steel manufacturers of Great Britain for the years 1884 and 1885, and then to reflect that the naval requirements of the Government will soon be satisfied ::

3 furnaces blown out, August, 1885. 13 standing since 1884.

54 standing since August, 1885. 63 standing since 1884.

66 standing since January, 1885. 71 standing since March, 1885. 75 standing since March, 1885. 110 windmill works standing since 1884. 115 standing since November, 1885.

We take this grim record as it is given in the "London Iron Trade Exchange Handbook for 1886," by Mr. Herbert W. Griffiths. Presumably these furnaces are now all in blast, and new ones, under the impulse of the "boom," are being rushed to completion, so that the production of steel and iron in all their forms is being enormously increased. Meanwhile, prices advance, the boards of conciliation are called upon to correspondingly increase wages, and, contemporaneously, new demands are put forward for shorter hours, no overtime, and the like.