OUR LONDON LETTER.

Evening Star, Issue 9153, 7 June 1893, Page 1

OUR LONDON LETTER.

> ANGLO-C<>M>NUl< 2*OTKS. i L(WD<Mf, April 20. It will take & long time to allay the illfeeling aroused in uolonial circles by the circumstances attending* the opening of the Imperial Institute. ~ The "Fellows" and "life members,?' many of whom consider themselves to have beeniagloriously "hadt" are specially indignant. " Labby" this week repeats what I told you last mail. "Many subscribers," ae says, "joined largely for the sake t>f being present at tUe opening function. They are being further bled before they can enjoy the ceremony, while the available space is being filled up with friends of the Executive, who receive free admissions, and even the general public are on as good a footing as the deluded Fellows." A' "life member " who subscribed over £SO to the funds of the Institute complains bitterly of the ordinauce commanding levee dress at the opening ceremony. He says velvet coats and knee-breeches are "repugnant to any well-regulated colonial mind," and rather than gallivant in such attire he meaus to absent himself. Probably this Antipodean is either uncommon short or uncommon stout, to whom such levee dress would, I imagine, be trying; but the bulk of mankind find it decidedly becoming. One's chief difficulty lies in the manipulation of the sword, which ia apt to slip between the legs at embarrassing moments —during introductions, for example—and to cause the wearer to smite the carpet with luk proboscis. The Coptic, with Sir Walter Buller./Miss Buller, and the exhibits for the New Zealand court at the Imperial lustitute on hoard, docked yesterday, and in the evening your Commissioner and his daughter took up temporary residence at the South Kensington Hote'l {-a branch of Bailey's), Queen's Gate. This lies within three minutes' walk of the Institute.

Mr J. C. Rkind (of Christchurch) is in Scotland this week, payiug a round of valedictory visits. Mr E. W. Hornung is engaged, on <IH. to the sister of a celebrated novelist, who doesn't think Homer was lx)rn in Melbourne. The lady is exceptionally pretty and charming, and appallingly clever. The appointment of Dr Selwyn to be master of the college at Cambridge founded in commemoration of his honored father, and bearing the family name, lias been cordially approved by all sections of the ( Press. Bishop Julius gave a lecture at Highgate the other evening. His subject was New Zealand, but he did not confine himself to the usual scenic-cuin-farming groove. He had a full and appreciative audience, and made the most of his opportunity. Tin; Radical and Socialistic enunciations of the bishop went down well with the people present, but he is said to have grievously shocked a very respactablc tradesman of the neighborhood by his bluntuess of speech. Tlie "shocking" occurred after the lecture. Bishop Julius was approached by a man and asked what chances the colony afforded for a young man who had served an apprentice-, ship in a bank. The said young man's father was the questioner, and he went into a long description of his sou's abilities, shortcomings, etc., finally winding up with the question : " What would you advise me to do with him V Said the Bishop gravely : " )'ou'd better cut his throat."" Mr William Courtney had a fudience on Tuesday evening at Exeter Hall, and the lecture lie gave seemed to fully satisfy the expectations of the meeting, the' limelight views being specially appreciated. The Agent-General was in the chair, and in a short speech enlightened those present as to the deseription of emigrants New Zealand was peculiarly adapted to receiving—viz., those with a moderate amount of capital or with small (or large i fixed incomes. To alt such Mr Perceval bade welcome in the name of his countrymen, and promised them a happy home. Mr Courtney then dwelt at length on the " Garden of New Zealand," and I am glad to say that the " silver collection " at the eonelusion indicated the approval of those Inentertained. the hankini; cnisis. The City continues Ml of alarmist rumors, which the news of the suspension of the Australian Joint Wtock Bank, just t<> hand, is likely to increase. "We have now.' says 'The Times,'"to consider the sinister fact that the area of trouble has extended beyond Melbourne. After giving particulars of tininstitution's business, it adds : " This incident marks a fresh and most important stage in the Australian bank crisis," and hints at the likelihood of a panic. Fear of this terrible possibility is whispered everywhere. During the week thereis scarcely an Australian bank (bar, perhaps, the Banks of Adelaide and Australasia) the name cf which has not been taken in vain. Both Scotch and English depositors are thot - oughly frightened, and heavy withdrawals are threatened and taking place from nearly all Antipodean institutions. So far the Bank of Adelaide's depositors have re nmined staunch. This, no doubt, is because its conservative policy is so well known and thoroughly trusted. A highly esteemed banker remarked to me yesterday that, providing a panic can be averted, the thoroughly sound institutions will not altogether regret the present crisis. They hope it may lead generally to a sounder system of banking in the colonies, and, -übove all, put a .stop to the cut-throat competition which Im* been so mischievous. The Australian managers (he says) were continually wiring to Loudon: "<iet deposits." or " Must have more deposits in order to acquire important business." This mciinl, of course, tlie Australian manager taw his way to getting the Messrs So-and-so's m count from the Bank of . providing h<could allow them a larger overdraft than the other and more'cautious concern saw fit to do. Thereupon the London manager would make off to Edinburgh and outbid everybody for deposits. Supposing the current rale to be 4 per cent., he would offer 4> n . Of course this sort of thing was quite wrong and rotten, and bound in the long run to mean trouble. The reconstruction scheme of the Commercial Bank is not proceeding smoothly, as was hoped, Several of the heaviest Scute! i depositors are dissatisfied with details, and express doubts a3 to Mr Service being the master mind the situation imperatively requires. "Mr Service is not a banker, and we emphatically don't want a mere figurehead," urged a dissentient. "Mr Servicemay not be a banker," was the reply, '' but he is what is far more important, a iiiFtelass financier. There are plenty of bankers in the concern to consult wiLh him. We want, above all things, a man of shrewdness, business capacity, and integrity, in whom Australia places perfect faith. Janice Service is that man."

At Masterton the other day (ieorge Jueksoii was " sent up " for a mouth for assaulting his father-in-law, sixty-nine years of age, with a screw-driver, and peniutii'.-ntly injuring one of his eyes, the lid of which was torn away. Of course Jackson wa.s drunk.

A Jewish writer that Omnibus's indebtedness to the Jews shall not U: forgotten. He says that the Jewish us-iro-nomer, Joseph Vechino, was the inventor of a nautical astrolabe which Columbus used. It is known that Columbus took two Jews with him on his voyage. Reuau died so poor that his library will have to be sold to enable his wife to tide over the period which must elapse before the French Government grant her a pension.