The Thames Star. Resurrexi. MONDAY, SEPTEMBER 6, 1897. Notes and Comments.

Thames Star, Volume XXIX, Issue 8757, 6 September 1897, Page 2

The Thames Star. Resurrexi. MONDAY, SEPTEMBER 6, 1897. Notes and Comments.

The Cabot celebrations at Bristol were the occasion of a very picturesque speech by Lord Dufferin. In laying the foundation stone of the memorial to John Cabot, Lord DufEerin remarked that even Cabot's warmest admirers would not contend that his exploit was either so brilliant or so original a feat as that of Columbus. It was Columbus who set the egg on end, and to Columbus must be awarded the imperishable honor of having discovered the two Americas; for it is a mistake to suppose that he never came into contact with the mainland. But for all that, both the importance and beneficence of the results flowing from Cabot's more northerly expedition were infinitely superior to those which followed the Spanish' conquests and colonisations. The Spanish adventurers, indeed, were instrumental in bringing vast regions under the dominion of the Spanish Crown, and in pouring for a certain number of years rivers of gold into the Spanish treasury;' but the policy thus inaugurated was a barren policy of cruelty, rapine, and extortion, which led to the extinction of two interesting and original civilisations, to, the demoralisation of the conquerors, and_ to the ultimate impoverishment of the kingdom whose revenues had been thus artificially inflated.

John Cabot, on tho other hand, found neither gold nor treasure, nor were there cities, temples, palaces, or richly cultivated lands of which he could make a prey. Snowfields, ice-bound rivers, desolate primeval woods, and a bitter climate were his portion. And yet it was amid those unpromising suri oundings that he hit upon a mine of wealih, richer, more perennial, and better calculated to stimulate legitimate and remunerative industry than the El Dorados of Peru or the ingots of Mexico, for he cast his net over the deep sea fishing grounds that fringe the island of Newfoundland. No sooner did it become known to the hardy mariners of Bristol that this prolific source of an honest livelihood was open to them than the road across the Atlantic between the West of England and St. John's became a beaten track. The Icelandic voyage, which, up to that time, had formed Bristol's^ chief maritime industry, was abandoned; and all the energies of Bristol seamen were employed, in reaping these* new-found harvests of the Western Sea. As a consequence, the sea-power of England, as represented by both ships and men. acquired in a few years an astonishing expansion in numbers as well as in the superiority of its seamanship, which was soon after strikingly exhibited by the banishment for all time of tho Spanish fishing fleet from the Banks, in the defeat of the Armada,and by the achievements of Drake, Frobisher, Hawkins, and Raleigh. * *' * ■ *

To the latter extraordinary man (added Lord Dufferin) is due the credit (more than to anyone else , of prosecuting to its ultimate results the voyage of the Matthew and Gabot's happy determination to sail along a northern parallel of latitude; for Raleigh alone of the statesmen of that time, with the exception of Lord Bacon, seems to have comprehended the importance of establishing the supremacy of the British Grown over Newfoundland, and of colonizing with as much rapidity as possible the territories of Virginia and New England. It is true that his own experiment in that direction proved a failure ; but his policy survived him, and was marvellously stimulated by the very Sovereign who caused his destruction, for it was in James' untenable notions of the Royal supremacy, followed by his son's high-handed administration and Laud's esclesiastioal zeal, that the virile and austere Proteslant settlements of New England had their origin, carrying with them the germs of that Republican spirit which has found its ultimate expression in the numerous and mighty Commonwealths which now constitute the United States.

•■ Tae report of the Commis don oa Exportsappointed to inquire into the financial re.sources of Greece provides some interesting reading. Even if the revenue was most carefully husbanded, the idea of Greece being able to put aside a yearly sum sufficient to meet interest and sinking fund on an indemnity loan of eight millions (as originally demanded by the Porte) is absurd. The ordinary revenue of the countary is stated at 92,000,000 drachmas (a drachma ia equal to a franc) which revenue, when the country is restored to a normal condition, may be possibly increased to 97,000,000 drachmas, or, say at. an outside es'imate, four million pounds. But, on the other hand, the Commissioners report that the irreducible minimum of expenditure per annum is 84,000,000 drachmas. Consequently, even should the larger amount of possible revenue be collected, that will only leave a margin of about £280,000 to provide interest on a war loan. That sum would be sufficient to pay 4 per cent interest and provide a 1 per cent sinking fund on a loan of ,£i,600,0P0. But it is calculated that o£ that sum at least £2,000,000 would be required for expenditure in Greece, in order to I63tore the country to its normal condition If that condition is not restored no certainty as regards revenue is possible. The figures, therefore, indicate that at the best Greece cannot do more than pay interest on an indemnity cf three and a-half millions sterling. ■

During the last week fiva cows were con demned by the Inspector of Duiries(Mr Durham). Three of the animals were tuberculous and the other two in a generally unthrifty state.

It is estimated that the cost of constructing an Irish Channel tunnel to connect the north of Ireland with the south coast of Scotland would be .£8,000,000 tot 10, 00,000 To determine the practicability of the scheme, a preliminary expenditure of £15,000, for borings and soundings over the route proposed, is deemed necessary.