26 MAY 1894, Page 2

Mr. Mundella explained to a sympathetic House on Thurs- day

his reason for not resigning at once when his name was first mentioned in connection with the New Zealand Loan Company. It was a very natural and creditable reason. His heart was so Much in the policy which the Board of Wade is engaged to administer, that he could not bear to. resign when he found that the Prime Minister and his colleagues did not think that his resignation was at all necessary. But that, though a very creditable reason, was hardly sufficient; and when Mr. Mundella found that his position would, in public estimation, weaken the authority and compromise the impar- tiality of the Board of Trade, he at once, and very rightly,. resigned.