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Proceeding next to deal with unemployment, Mr. MacDonald said that

so far the question had only been nibbled at. The purpose of the Government was to provide work, but, alternatively, if work could not be provided, an effective income. Naturally the Govern- ment preferred the first alternative, and they would concentrate, therefore, on the restoration of trade. They had no intention of diminishing industrial capital in order to provide relief. The necessity for subsidizing schemes in direct relief of the unemployed would be judged in relation to what he admitted was the greater necessity of maintaining the ordinary financial facilities and the resources of trade and industry.

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