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less the political agitation were stopped. and on May 11 the local authorities were empowered to prohibit all political meetings among the natives. On April 11 Lord Cromser, who had been England's mainstay in Egypt for more than a generation. resigned his post as British agent and consul general. His resignation was accompanied by a note of serious warning to the European powers regarding the strength and progress of the much-talked-of PanIslamistic movement. He was succeeded by Sir Eldon Gorst. The war cry of the liberal government continued to be the abolition of the house of lords. and this was recognized in the speech from the throne February 12, when the differences between the upper and lower houses were mentioned. June 22 the lords' committee on the reform of the house of lords made Lord Rosebery chairman. On the 24th a bill introduced into the house of commons to curtail the lords was adopted by a vote of 432 to 147. Possibly the agitation against the lords had some bearing on the lordly vote on the celebrated deceased wife's sister bill. It had been before parliament for years and legalizes the marriage of a widower to his dead wife's sister. The bill was finally passed by the lords August 20, although many prelates of the Church of England. the disestablishment of which is sought. are still condemning the law, which is against the teachings of the church. The fourth conference of the colonial premiers began April 15, Dr.: Jameson from Cape Colony. Gen Louis Botha. the Boer from the Transvaal Alfred Deakin from Australia, Sir J. G. Ward from New Zealand. Frank R. Moore from Natal Sir Wilfrid Laurier from Canada and Sir Robert Bond from Newfoundland being present. The conference lasted some weeks and did practically nothing, although the expediency of establishing preferential tariff rates between Great Britain and the colonies was warmly championed. Lord Curzon, relict of Mary Leiter. March 14 defeated Lord Rosebery for the chancellorship of Oxford University. and 80 presided when Mark Twain and Whitelaw Reid received their honorary degrees June 26. August 19 the Transvaal parliament voted to buy the million-dellar Calinan diamond and present it to King Edward. He received it on his birthday. November 9. Great Britain has continued her extensive naval construction plan as a matter of course. As the year ends, the financial scare that began in New York when F. Augustus Heinze, E. R. Thomas and Financial Charles W. Morse were forced out of their chain of national Scare. banks. has gradually worn away. Mr. Heinze resigned the presidency of the Mercantile National Bank October 17, and from then on until November 17. when Secretary Cortelyou announced the government's intention to issue $50,000,000 Panama bonds and $100.000,000 interest bearing certificates of indebtedness. the financial storm raged flerce'y. On October 22 the Knickerbocker Trust Company of New York, with deposits aggregating $70,000,000. closed its doors after paying out $8,000,000 in a run lasting a day. The next day receivers were appointed for three of the great Westinghouse concerns: Secretary Cortelyou placed $25,000,000 government money in the New. York banks. and the Trust Company of North America. the largest in New York. paid out $13,000,000 in the run which began that day and lasted until well. November. By October 26, when the New York Clearing House Association authorized loan certificates. the uneasiness had spread all over the country. Two days later clearing house certificates were authorized in most of the large cities: exchanges were ordered closed. notably in Pittsburg and New Orleans, and several governors of states. Oklahoma leading off. began to declare more or less lengthy legal holidays, that the banks might remain closed until the skies cleared a bit. In the meantime Secretary of the Treasury Cortelyou took up his station in New York. and, together with J. Pierpont Morgan and other well-known financier3 worked indefatigably to restore public confidence. When call money reached 100 per cent on the New York stock exchange on October 24 a bankers' pool, headed by Mr. Morgan. loaned $25,000,000 at 10 per cent. At a conference dominated by Mr. Morgan the leading bankers of New York determined to see the trust companies through the crisis. Gold was early en gaged from abroad: by November 7 the total had reached $40,000,000. Ten days later came the announcement of the gov. ernment's determination to further relieve the situation by issuing Panama bonds and interest bearing certificates. Since then the money premium has shriveled. During the height of the trouble seventeen banks in New York and fifty-four in other citles suspended payment wholly or in part. The most prominent victim of the, panic was Charles T. Barney. the deposed president of the Knickerbocker Trust, who killed himself in November. The separation law went into effect in' France December 11. 1906. and for the first few months of Troubles in the present year there was a good deal of fricFrance. tion between state and Vatican. Premier Clemenceau, aided by M. Briand. minister of education and public worship. used strong measures to carry out the law, and, the people at large, although 95 per cent nominally Catholic, nevertheless supported the government. Finally, however. the government virtually recognized the church hierarchy. but proceeded to carry out the separation rigidly. Early in May came the uprising of the Midi mine being roused
