Mr. Lowe seems to get along better with his deputations.
As explained elsewhere, he quite charmed a malt-tax deputation which visited him on Tuesday, and was so delighted with his benignity that it cheered him ; and on the same day he gave another deputation what seems a strong answer about the reduc- tion of the interest allowed to Savings' Banks. He wants to reduce it from 3 to 24 per cent. The Savings' Banks object, whereupon Mr. Lowe replies that Government has lost by the present practie,e £3,270,000 in twenty-six years, and wants to know why four-fifths of all workmen are to be taxed in order to give the remaining fifth more interest than the money is worth. The only answer to this is, that in spite of the losses the Savings' Bank capital is worth to the State the interest it receives, because without it the State would have to borrow at 3}. How does that stand ?
