closely associated men of all nationalities who had determined to make their homes in the Transvaal, and these formed the class which has been disparagingly referred to as 'the political element,' but which the experience of every country shows to be the backbone of a nation. They were in fact the men who meant to have a hand in the future of South Africa. After them came the much larger class whose interest in the reforms was based mainly upon the fact that they suffered from the abuses and over-taxation of the Government. For several years a very strong feeling against the capitalists had ruled in Johannesburg. Men who thoroughly knew the Boer had prophesied and continued throughout to prophesy that absolutely nothing would be done to improve the conditions, and that the capitalists might as well throw in their lot with the general public early in the day as be forced to do so later, after spending their thousands in fruitless efforts for reform, and after committing themselves to a policy which would be regarded as selfish, pusillanimous, and foolish. The moneyed men no doubt occupied a very prominent and powerful position. They were constantly besought by the Reform leaders to side with them; they were looked to by the Progressive Party in the Boer camp to aid reform by peaceful measures only, to exercise all their influence towards preventing rash or violent measures being taken by the more excited party, and to trust to time and patience to achieve those results which they were all honestly desirous of bringing about; and they were approached, as has been stated, by the President and his party when moments of danger arrived, and when it was felt that their influence could be used towards the preservation of peace,--as witness the Loch incident. 'It is no crime to be a capitalist,' said one commentator on the late events, and neither is it necessary to attribute to this section of the community motives of patriotism to justify their association with the Reform movement. It is not intended to suggest that the men who did associate themselves eventually with it were not moved by any higher consideration than that of protecting their interests--in many cases a far larger view than this was taken; but it may be asked,--assuming that the capitalists were not moved by higher considerations,--What is there in their position which should debar them from endeavouring to introduce the reforms which would benefit them only equally with every other honest man in the community?