The most interesting of all Li Hung Chang's visits was,
how. ever, that paid to the Bank of England on Tuesday. Here his conversation—through the interpreter—with the Bank of 1c:: was taken down by reporters, and specially by the reporter of the Pally Telegraph, whose notes are very full. Extremely shrewd was his cross.examination of the Governor in regard to the relations between the Bank and the Government. He is recorded to have drawn "a very large puff at his pipe" when he was told that " the Minister of Finance " does not send an official to audit those of the public accounts that are kept by the Bank. Li was greatly excited, as well he might be, when told that people were contented with 21 per cent. Why, he asked, do they not invest in industrial companies and mines ? He was told that they did, but that they also had large holdings in Consols, but he still seemed un- satisfied, and reiterated the statement that a great com- mercial people would not be content with 21 per cent. As must always happen if any conversation is much pro- longed, bimetallism was soon broached. China, Japan, and America must, he declared, settle the silver question, but he added somewhat inconsequently that they must get the European nations to agree to a fixed standard. " If you do not approve of it we cannot do it." Li Hung Chang went on to make the conventional attack upon England for her commercial selfishness. Li Hung Chang : You are the most commercial country, and therefore England could settle the question if she likes, but England has her own interests to protect, so she will only do things to her own advantage, and not to the advantage of other people."—Sir Mark Collet (drily): "Like any other Government."—The Interpreter (translating a remark which fell from his Excellency) : "It is the same all over the world, every one has to protect his own interests—England especially." Li Hung Chang ended by urging the Governor and directors to take the initiative and fix a ratio themselves. Li is a most shrewd cross-examiner, and it is clear that the directors were alarmed as to what he would ask next. Questions like " Do the Rothschilds keep their money here ?" partake, as Mr. Stevenson says, somewhat too much of the nature of the Day of Judgment.
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