The Stock Exchange have voted a remarkable address to- Mr.
Lidderdale, the Governor of the Bank of England, for the- " firm and decisive" action with which he had used his influence as Governor of the Bank of England to avert the 'terrible- crisis which would have resulted from the failure of Messrs. Baring. "The Committee," says the address, "are fullyr able to estimate the magnitude of the disaster, which at one time threatened to disorganise, if not to overwhelm,. the vast financial and commercial interests of this and. other countries ; and they are convinced that it was almost entirely owing to the masterly ability with which the measures of yourself and the Court of Directors were Carried out in the- negotiations in this country and abroad that a panic, of unparalleled dimensions was averted." That is a remarkable. and almost unique testimony, and will distinguish Mr. Lidder- dale's name for a century to come in the history of commerce.. At the same time, we do not feel sure that there may not be- some little compensating evil, in the impression which great speculative houses will derive from what has happened, that at the last pinch they will be saved from failure by a like intervention of the Deus ea maelainci of the Bank of England..
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