Lord Milner's articles in the Observer have been on very
different and, so far, much more general lines. They really amount to a discussion and criticism of the Capitalist System as by custom if not by law established in this country. And yet they will be found to be supplementary to Lord Weir's letter. Lord Weir shows conclusively that nothing more can be done for Labour by means of redistribution under the present system. Profits are very small or non-existent. The only question is whether the present rate of wages is not too high for industry to bear. Lord Milner tacitly accepts this. His criticism is directed not to the.distribu- tion of the profits under-the present system but to their size. It is easy to see that nothing is to be gained by. a redividing of the national income. Bat is not this in itself a sign that there must be something wrong with an income so pitiably small ? Does the present organization of industry film its fast prerequisite— that of obtaining efficiently a large product ? How much waste is due to the misdirection of capital, invested according to the interests of the individual capitalist, but not according to the interests of the community? Or do these interests, as we were taught, always coincide ? These are the questions that Lord Milner asks We await his further articles with interest if not with confidence in the remedies he hints at.
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