The telegrams from Calcutta, published in the Times, about the-
recent financial trawactions of the Government and the Bank of Bengal are, we imagine, misinterpreted by the public. Nothing illegal has, we believe, been done by anybody. The method of drawing from India the immense sums now required by the India. House has become a subject of great and increasing anxiety to the authorities. It was resolved, therefore, to try an experiment,. which it is not necessary to describe, through Mr. Dickson, of the Bengal Bank, who has been for years a trusted adviser of the Indian Treasury. The scheme, which involved immense purchases of securities, was admirably carried out, and might have succeeded, but that anxiety and overwork prostrated Mr. Dickson, who, however, was acting throughout with the full approval of the Treasury and his own directors. The Bank has not suffered in the least, as is evident from its dividend, and it is not believed
that the Treasury will suffer. The losses of the India House by -exchange begin to affect the Budget, and need inquiry by a thorough expert. There ought to be some way of making the immense China trade relieve the Indian exchanges.
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