1. As far as dynamite is concerned, it appeared that there was no chance of contesting the concession in the law courts with any success. Nor did the Volksraad or the Government feel justified in cancelling, without the consent of the owners, a contract which had been solemnly entered into, and upon which enormous sums of money had been expended. The Mining Industry was naturally eager for cancellation, even without adequate compensation; but the public were not at that time aware of a fact which was made public some months later, namely, that the De Beers Corporation intended to erect a dynamite manufactory, and that this agitation of the Capitalists was intended to obtain for themselves the control of this great source of income. People, however, knew that the Messrs. Chamberlain were interested in the English ammunition and dynamite house of Kynoch, but they hesitate to assume that the Colonial Secretary was actuated in his Transvaal policy by considerations of private financial interest. The Government and Volksraad of the South African Republic adopted the wiser plan of lowering the price of dynamite to such an extent as to make it about equal to the local European price plus a protective tariff of 20s. per case. It may here be remarked that Mr. Chamberlain, knowing how unpopular the Dynamite Concession was in the South African Republic, intimated to the Government of the South African Republic, in a very threatening manner, that the Concession was in conflict with the London Convention. The answer of the Government to this communication was so crushing that Mr. Chamberlain did not again return to the subject. In this he was, no doubt, also actuated by the fact that the most renowned English and European jurists had advised that the concession was in no sense a breach of the Convention. This, however, only became known later, and it is merely referred to now so as to show that no stone was left unturned in order to find a means of humiliating the South African Republic. [Sidenote: The Netherlands Railway Company.] 2. With regard to the Netherlands South African Railway Company, it would appear that the Capitalists have altered their opinion, and now think that the administration of the Company is as good as can reasonably be expected, and that expropriation is now unnecessary. Perhaps, from their point of view, it would be better to buy up the shares of the Company, and thus become themselves masters, instead of the Government, of this source of income. Respecting the Railway tariff, it is fair to assume that the cause of dissatisfaction has disappeared, for no complaints are now heard since the tariff was lowered in accordance with the recommendations of the Commission. [Sidenote: Reduction of import duties]