One other point may be noted in Sir Michael Hicks
Beach's speech,—i.e., the passage in which he dealt with the question of what proportion of the cost of the war should be imposed on the new Colonies. "We had got to set the Transvaal and Orange River Colony on their legs. We must guarantee a loan of a considerable amount. We had to face railway pur- chase, to pay off debts, to extend railways, to settle emigrants, and do other things there. He hoped that the Government and Parliament would not impose any greater burden for the payment of interest and sinking fund on the proposed loan than the revenues of the Transvaal and Orange River Colony might fairly be expected to pay." We are proud to think that so wise and patriotic a politician and so sound a financier as the late Chancellor of the Exchequer approaches this problem in almost exactly the same spirit as that adopted by us from the beginning and set forth in detail in our issue of last week.
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