21 OCTOBER 1922, Page 48

This guarantee, of course, is given under the arrange- ment

entered into last year whereby the Government obtained powers up to a total of 25 millions to guarantee certain loans where the proceeds were to be spent in relieving unemployment. These Government powers are, I believe, pretty nearly exhausted, and already there is talk of fresh authority being sought up to a similar amount. Although a good deal might be said in the way of criticizing these schemes of semi-State relief, I am inclined to think that it is at least a less objectionable method than the system of bare doles where no labour is given in return.