'Change seems to have got over its panic, and prices
are becom- ing steady, though, of course, they are still low. The losses in the " House " alone from the recent panics are said to reach two millions, and the losses to the public must have been twenty times as great. Consols, however, keep above war prices, and unless we go to war the public will soon be investing again. Everybody in business, however, is timid, and wants gold ; the Continent is hoarding cash, foreign houses are collecting all the money they can lay their hands on ; and the Bank of England, which is the common object of attack, has been compelled to raise its rate to 6 per cent. as a minimum.