Mr. Lowe is all alive. 1Vhi1e peeparing a budget which
would suffice for most Chancellors of the Exchequer, he has found time to frame a scheme for terminable annuities, another for converting all British State debts, the 2j• and 5 per Cents., into 3 per Cent. Consols, and a third for paying the interest on the Debt quarterly instead of half-yearly. To the last reform, which will greatly increase the popularity of Consols, and directly increase their price about thirty shillings per cent., the Bank of England assent, and it is to be carried out. They do not, however, like the Century Stock, arguing that trustees cannot and other people will not invest in a terminable annuity, the value of which decreases every day. Mr. Lowe had also proposed that Consols should be divided into three classes, to which the Bank object that a simplicity and magnitude are main recommendations of the stock, and under his recommendation will disappear. Mr. Lowe sees that, and with- draws the point, but is not quite clear about terminable annuities, and reserves his decision. Not even his ability can get more hay out of a field than there is grass in it, and that is what he and every other projector of the kind is seeking to do.
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