Mr. Lloyd George wanted more precision, namely, a Treasury declaration
that grants should not exceed a certain figure during the Recess. This demand was both Constitutional and traditional, and there was no reason at all for the angry interruptions which it provoked. Mr. Snowden was in a wonderfully soothing mood, and restored the peace. He admitted that the criticisms had been reasonable and helpful. He would fix upon a figure as soon as possible, on the understanding that it must be regarded as an interim estimate. The Treasury would not sanction grants to industries unless all other methods were unsuitable. Grants ought to be the exception. The Treasury would also insist that all assisted schemes should be capable of ultimate profit. He might be asked why, as a Socialist, he was anxious to help private enterprise. His answer was that lie had no objection whatever to fattening up utilities until they were ripe for absorption by the State. In the end, thanks to Mr. Snowden, the Government came well out of the debate which had begun badly for them. On Monday, Mr. Thomas being in a happier mood, the Treasury limit was fixed at £25,000,000 up to the reassembling of the House, and the Committee stage of the Bill was carried.
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