Reid he is to receive the sum of $15,600 in Newfoundland
government bonds, bearing interest at 3-1/2 per cent., and eight
square miles of land. The increase in rental value of this land will
give a large revenue, even if the line should not pay its working
expenses.

The land grant for 500 miles of railroad would amount to 2,500,000
acres. If Newfoundland were one of the United States, capital enough
would be subscribed to enable Mr. Reid to finish his contract in the
allotted time; but, as it is under England, and must therefore suffer
from the awful burden of England's diplomatic incapacity, capital
holds aloof from it.

Where does British money go? The Tory of 1878 sang,--

"We don't want to fight;
But, by jingo, if we do,
We've got the ships, we've got the men,
We've got the money, too."

It is interesting to see how that money, which is withheld from
Britain's oldest colony, has been spent.

We will begin with Mr. Blaine's "Twenty Years of Congress." On page
479 he quotes Lord Campbell as saying in Parliament on March 23, 1863,
"Swelling with omnipotence, Mr. Lincoln and his colleagues dictate
insurrection to the slaves of Alabama." (That fatal word, "Alabama"!
Will it ever cease to trouble the British conscience?) And he spoke of
the administration as "ready to let loose 4,000,000 negroes on their
compulsory owners, and to renew from sea to sea the horrors and crimes
of San Domingo." Mr. Blaine says, further, that Lord Campbell argued
earnestly in favor of the British government joining the government of
France in acknowledging Southern independence. He boasted that within
the last few days a Southern loan of L3,000,000 sterling had been
offered in London, and of that L9,000,000, or three times the amount,
had been subscribed.

Here, then, we have a means of accounting for $15,000,000. Another
$15,000,000 is accounted for by the money which America forced England
to pay for the "Alabama" depredations. On that point Mr. Laird, the
builder of the "Alabama," deserves to be immortalized. According to
Mr. Blaine, on March 27, 1863, Mr. Laird was loudly cheered in the
House of Commons when he declared that "the institutions of the United
States are of no value whatever, and have reduced the name of liberty
to an utter absurdity."

Another large lump of Jingo money has gone into the Russian loan; and,
of this loan, $4,000,000 is coming to Bethlehem in Pennsylvania. O
shade of John Roebuck,