5 MARCH 1904, Page 3

Two by - elections have taken place since we last wrote, one

in a constituency which may be called the central stronghold of Chamberlainism and Protection, the other in a stronghold of Liberalism. In the Unionist stronghold—i.e., South Birmingham—the Unionist candidate was returned by a majority which was some five hundred less than that obtained in the last contest. In the Liberal stronghold the majority was a great deal more than doubled when compared with the last contest,—rose, that is, by 2,527. There is no need to comment on these figures. The actual figures of the South Birmingham contest were :—Lord Morpeth (U.), 5,299; Mr. Hirst Hollowell (L.), 2,223,—majority, 3,076. Those for the Normanton division of the West Riding were :—Mr. W. Parrott (L. and Lab.), 6,855; Mr. M. Dorman (C.), 2,909,— majority, 3,946. Apart from his views on the fiscal question, Lord Morpeth will, we feel sure, prove a very useful Member. His practical knowledge of the Militia should enable him to exercise a valuable influence in the discussions on the reorganisation of the Auxiliary Forces which are sure to take place this Session. In Mr. Parrott the Labour representatives in Parliament will, we are glad to think, receive an accession of strength. His election is yet another proof that the working men are not going to be deluded by the sophistries of Protection.

Bank Rate, 4 per cent.