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This means that the talk about " Socialism in our

day" is dying down, and in its place is appearing the practical policy of exploring hand in hand with the Liberals that " vast territory," as Mr. Lloyd George has called it, which is common to the two parties. All this, let us repeat, is subject to the numerical deadlock of the Parties. And here we come to the real doubt which is obstructing an immediate agreement between the two Parties. Any outsider trying to see the situation through Labour and Liberal eyes would naturally say, " Why on earth don't they come to an agreement before the General Election ? That is much their best chance. If they delay there will be many repetitions of the Tavistock by-election, where the Labour vote enabled the Unionist to get in." * * *.

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