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The Lord Mayor's banquet was remarkable only for Lord Spencer's

and Lord Kimberley's speeches. Both Ministers did what they could to neutralise the chilling effect of Mr. Gladstone's reply to Mr. T. G. Bowles on Tuesday. Lord Spencer dwelt on the positive duty of maintaining the pre-eininence of the British Navy. But we wish he had stated that the immediate task of the Admiralty is to reduce and ultimately extinguish that relative deficiency in torpedoes, which might, on the outbreak of war, so suddenly and BO dis- astrously turn the scales against us. Lord Kimberley spoke with great sympathy of the Spanish nation, especially in relation to the war in Morocco and the recent fatalities in Santander and Barcelona ; and announced that Sir Mortimer Durand's mission to Cabul had proved a perfect success.

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