The Times has published letters from Lord Inchcape and Mr.
F. H. Houlder showing that the price of meat when it is landed in this country is still low, and the facts, which we do not dream of disputing, have been used to bolster up the unreasoned outcry against " profiteering "—a phrase almost universally bandied shoat without the least attempt at definition. -As -we said•lastsweek, the one object of the Food Controller—the only method that does not defeat itself—should be to achieve the equivalent of an increase of supply. He cannot actually increase supply, but he can and must so reduce consumption that supply is in effect increased. If Lord Rhondda supposes that this will be dene by a compulsory lowering of prices, unaccompanied by wholesale rationing, or its equivalent, he is backing himself against the whole gamut of economic law.
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