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204. . . . The Club by the last clause of their terms held themselves at liberty to withdraw the challenge should it not be accepted within thirty days. The limit of the time is now expiring, and it is with no little disappointment that a letter received from the head of the eminent banking house of Baring & Co., was received in Boston a short time since, when it was found that he had nothing like an acceptance of the challenge to communicate to the American Club, but that, on the contrary, he had to report no inquiry as to the proposition. As a sort of enticement, however, to our ship-builders, the President of the American Navigation Club, Mr. D. C. Bacon, is authorized, should the present challenge not be accepted within thirty days, to allow the British vessels a start of fourteen days before the departure of the American craft. And also to allow us a crew picked from seamen experienced in voyaging between English and Chinese ports, while their own crew is to be composed of American seamen and officers whose experience is limited in sailing between China and English ports. The Americans, under the new conditions, are willing to augment the stake to £20,000, or any higher sum than the £10,000 of the present conditions most agreeable to us, but the last amount to be the minimum. The Americans want a match, and it reflects somewhat upon our chivalry not to accommodate them."

The London Daily News also published a leader in which it urged the importance to Great Britain of making good her claim to maritime