22 FEBRUARY 1896, Page 3

The price of Consols, which we state below, is, we

believe, the highest ever yet recorded, and in the face of the situation of foreign affairs, and the certainty that the surplus will be given to the Navy, is simply amazing. Its true cause, of course, is the increase of capital all over the world, which is gradually forcing down the rate of interest, and if there is no war will soon make 2 per cent, the regular interest for all first-class securities.