29 AUGUST 1925

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There was, however, a discrepancy between Mr. Churchill's statement and

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a statement made by M. Caillaux. M. Caillaux spoke of a moratorium promised by the British Government for five years. Mr. Churchill had said nothing about this. Mr. Churchill,...

M. Caillaux arrived last Sunday night, and the con- versations

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began on Monday morning. It will be remem- bered that some weeks ago French experts visited London and offered such a small proportion of the £20,000,000 a year asked for by the...

NEWS OF THE WEEK

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I T is not yet certain whether the French will regard favourably the latest offer of the British Government to accept sixty-two annuities of 112,500,000 in discharge of the...

In our leading article we have frankly expressed our feelings

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about the French attempt to whittle down the debt. We believe that the French people as a whole have been misled by the statesmen who immediately preceded M. Caillaux as to the...

What is the present capacity of France to pay ?

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Lord Bradbury has estimated that France could pay in dis- charge of her debt to Great Britain and America between £40,000,000 and £50,000,000 a year without the help of German...

EDITORIAL AND PUBLISHING OFFICES : 13 York Street, Covent Garden,

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London, W.C.2.-4 Subscription to the " Spectator" costs Thirty Shillings per annum, including - postage; to any part of the world. The Postage on this issue is : Inland, ld. ;...

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The situation in India has distinctly improved. The Viceroy has

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made a speech appealing for co-operation, and the new President (or Speaker) of the Legislative Assembly, Mr. Patel, has unexpectedly but handsomely responded to Lord Reading's...

As our readers know, we were not entirely satisfied with

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this plan of watching and waiting, with the possibility that in 1929 there might be a dangerous void with nothing ready to be put into it. It is true that Lord Birkenhead...

What happened on Monday, when Mr. Patel succeeded Sir Frederick

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Whyte as President of the Assembly, was therefore all the more agreeable. The Viceroy's message approving of Mr. Paters election was read, and Sir Frederick Whyte then addressed...

Lord Reading in his speech, which was a corollary to

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Lord Birkenhead's speech, expressed emphatic regret at the indifferent reception which had been given in India to what Lord Birkenhead had said. Lord Birkenhead's purpose had...

We trust that the British Government will take the lead,

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or at the very least not lag behind America, in demonstrating to the Chinese that there is much in their present agitation which we think natural and praise- worthy and which we...

A Reuter message from Peking says that the Powers are

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on the point of sending an Identical Note in reply to the Chinese Government's Note on the " unequal treaties." It is also announced that both Great Britain and America have...

Page 3

* * * We have often expressed the opinion that

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some of the best reading in literature is to be found in diaries that were never intended for publication. Those who agree should not miss the extracts appearing day by day in...

We deeply regret the death of the Dean of Westminster,

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Bishop Herbert Ryle. The son of the stoutly evangelical Bishop of Liverpool, he was a broad-minded Churchman, whose early distinction was that of profound scholarship in Hebrew,...

A great deal of suffering and hardship is bound to

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be caused among small Irish investors, annuitants, societies and charities with a little capital by the failure of the Free State Railways to pay any dividend on their ordinary...

Sir George Taubman Goldie, a Manxman by origin, died last

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week after a life of work that was of immense importance to the British Empire. Nigeria was as much his creation as Rhodesia is due to Cecil Rhodes. ,Nearly fifty years ago he...

We fear that Abd-el-Krim is showing no signs of willing-

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ness to discuss the French and Spanish proposals for peace in Morocco. As we pointed out last week, the proposed terms are not unreasonable nor altogether wanting in generosity....

The Royal Aero Club and provincial clubs have done their

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best for the science of aviation. Their work will receive great stimulus through the formation of the London Aeroplane Club and, we hope, provincial clubs on similar lines. The...

A curious incident has been the bombardment by Abd- el-Krim's

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artillery of the little island fortress of Alhucemas. The island is only a few hundred yards from the Riff shore, and is therefore an easy target, but as the Spanish garrison on...

* * * * Bank Rate, 4} per cent., changed

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from 5 per cent. on August 6th, 1925. War Loan (5 per cent.) was on Thursday 101$ ; on Thursday week 101* ; a year ago 101*. Funding Loan (4 per cent.) was on Thursday 891 ; on...

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TOPICS OF THE DAY

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THE FRENCH DEBT T HE result of M. Caillaux's visit to London is that each side knows more accurately than ever before what is in the other's mind about the debt. If an agree-...

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THE IftERNATIONAL CHAMBER OF COMMERCE C OMMERCE is the most truly

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international thing in the world. It knows no boundaries and moves almost automatically, as do the forces of Nature. Like water, it finds its own level. It is, no doubt,...

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SWEDEN AND PROHIBITION : THE MIDDLE WAY

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T HE Scandinavian nations, as any traveller may dis- cover at a glance, have taken more thought about some details of social evolution than any other peoples. The sale of...

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1 that perhaps there may be advantage in drawing 'attention

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to certain facts which are somewhat different from the picture continually painted by Labour leaders. II was asked recently to open a discussion on co-partner- ship at Mansfield...

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THREE BOOKS ON AGRICULTURE•

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T HERE are few more urgent questions in domestic politics than that of the Land and its People. After the failure of the policy of the Corn Production Acts, after the Reports of...

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THE OCEAN RACE W HAT is called the Ocean Race is

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likely to become more popular every year. It is a long- distance race which provides a real test of seamanship for amateurs. The yachts start from Ryde, sail round the Fastnet...

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MAN AND NATURE

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W ITH the rapid industrialization of the world the need of the preservation of open spaces and of the protection of the lives of wild things grows constantly more urgent and...

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LETTERS TO THE EDITOR LAMENT OF AN UNEMPLOYED MAN [To

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the Editor of the SPECTATOR.] Sm,—I read the letter of " A Draughtsman " with interest. I also am an unemployed draughtsman. I have now been unemployed for nearly four and a...

THE DRINK QUESTION

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[To the Editor of the SPECTATOR.] Sm,—Mr. Whitbread has made the reply to my letter which was to be anticipated. It is impossible to draw the moral without being somewhat...

RECONSTRUCTION OF THE COAL INDUSTRY

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[To the Editor of the SPECTATOR.] SIR,—Your correspondent, Mr. F. Bernhard, by " distillation plants " apparently means low-temperature carbonization. Now it is very tempting to...

Page 12

MR. BALDWIN AND THE MINERS

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[To the Editor of the SPECTATOR.] SIR,—In reply to your correspondent, Mr. Barnes-Austin, it may be asked how could the Prime Minister have " prepared for " the Mining Crisis ?...

DRINK AND CRIME

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[To the Editor of the SPECTATOR.] SIR,—Recently you have published statements from American correspondents that there has been a great decrease in American crime as the result...

GERMANY AND ARGENTINA

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[To the Editor of the SPECTATOR.] SIR,—I agree with Mr. St. Loe Strachey that the inhabitants of the Argentine have " never been jealous of our settlers or of British...

PUBLIC MONUMENTS

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[To the Editor of the SPECTATOR.] SIR,—Until I came to London last week I really imagined that the inhabitants of that metropolis had suddenly been endowed with an acute...

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" JACOB USSHER "

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[To the Editor of the SPECTATOR.] SIR,—Having just received the review in your paper of the book Jacob Ussher, I feel sure your readers would be interested to know that it has...

THE CENSORSHIP OF THE DRAMA

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[To the Editor of the SPECTATOR.] "Sin,—May I contribute to the controversy raging on this _subject, by pointing out that we are apparently as a nation striving to live up to...

THE SENSE OF HEARING IN BIRDS

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[To the Editor of the SPECTATOR.] SIR,—I read with much interest the article on " The Speech of Birds" in your issue dated June 13th, which I have just re- ceived. On page 968...

WOMAN

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[To the Editor of the SPECTATOR.] SIR, — Apropos of your verse competition for an epigram on " Woman," I am venturing to pass on the late General Horace Porter's close of his...

IRISH AFFAIRS: TEMPERANCE AND THE MEDICAL REGISTER

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[To the Editor of the SPECTATOR.] Sra,—The Irish Free State Liquor Commission, to which reference was made in a recent article in the Spectator, has prepared its report. As...

MAIN ROADS AND THE RIGHT OF WAY

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[To the Editor of the SPECTATOR.] Sin,—In "Motoring Notes," Spectator, August 15th, " E.T.B." gives this advice : " When approaching a main road, do so with the utmost caution,...

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THE BLACKSMITH'S STROKE [To the Editor of the SPECTATOR.]

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• do not know whether attention has ever been drawn to the blacksmith's habit of striking on the anvil only between the strokes on the metal ; or what it is that prompts such a...

[To the Editor of the SPECTATOR.] SIR,—I have been so

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impressed with Professor Scott's recent appeal in your columns for help both in advice and details of organization—an appeal directed in particular to the business and...

POE TRY

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A MORNING MOOD NOTHING unnatural occurred to-day. The larks were singing while the trees were yet Night-shrouded, and with heavy nightdamp wet. The goslings stuttered in their...

THE SQUIRREL WAR [To the Editor of the SPECTATOR.] Sin,—Just

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as I was contemplating a letter to your paper about the native red squirrel I see the article by " E. M. N.,'' and rejoice to see it. Can nothing be done systematically and at...

HOMECROFT SETTLEMENT FUND [To the Editor of the SPECTATOR.] Sin,—On

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my return from abroad I find a misprint in the letter I sent you last month which somewhat alters my meaning. I wrote " I am delighted to read that Professo r Scott is starting...

£100 PRIZE FOR AN ESSAY ON UNEMPLOYMENT AN American reader

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of the Spectator, Mr. Gabriel Wells, has generously offered a prize of £100 for an essay on "Unemployment : Its Cause and Remedy." The maximum length of an essay is 1,200 words,...

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A BOOK OF THE MOMENT

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MR. KEYNES AND THE GOLD STANDARD [COPYRIGHT IN THE UNITED STATES OF AMERICA BY THE New York Times.] The Economic Consequences of Mr. Churchill. By J. M. Keynes. (The Hogarth...

THE SPECTATOR.

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Before going on their holidays readers are advised to place an order for the SPECTATOR. The journal will be forwarded to any address at the following rates One Month .. Two...

Page 16

STATELY DEVIC ES

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English Masques. With an Introduction by H. A. Evans: (Mackie. 2s.) Texan is nothing in this book on English Masques to warn the reader that it is not a new book, but a reprint...

THIS WEEK'S BOOKS

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THE Golden Cockerel Press have reprinted The Apology of Colley Cibber. The interest in the theatre is probably more personal and keen to-day than it has been for many years, and...

Mr. Robert Blatchford has written a very small book on

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English. Prose and How to Write It (Methuen). It contains some wholesome advice to the very inexperienced, and none of it can be harmful. " As a writer," he says, " you will...

Messrs. Harrap - are issuing a new edition of Shakespear e

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plays, The Readers' Shakespeare, edited by Dr. G. B. Harrison and Mr. F. H. Pritchard, of which The Merchant of Venice, Henry V., and Twelfth Night have appeared. In this series...

Messrs. Methuen publish a very pleasantly informal and useful guide

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to Oxford in Oxford Renowned, by L. Rice.. Oxley.

A NEW COMPETITION

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THE EDITOR OFFERS TWO PRIZES OF £10 EACH, THE FIRST FOR AN INSCRIPTION FOR A SUNDIAL IN PROSE OR VERSE, THE SECOND FOR AN EPIGRAM ON WOMAN IN FOUR LINES OF VERSE. RULES FOR...

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DRYDEN AND POETRY

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" \Vital is man," asks Mr. T. S. Eliot, " to decide what poetry is ? " - And we praise Fate for allowing Mr. Eliot to expose himself. The joy of battle rises as we contemplate...

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GREEK RELIGION

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Five Stages of Greek Religion. By Gilbert Murray. A History 10s. 6d. and 12s. 6d. respectively.) THAT Professor Gilbert Murray is a religious man there can be no doubt...

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THE GROWTH OF POWER

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Electricity and the Structure of Matter. By L. Southerner (Oxford Univ. Press. 2e. 6d.) THERE is a very beautiful experiment, familiar to all chemistry students, which consists...

PRESIDENT WILSON

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Mn. Dame's' Life of Woodrow Wilson is not a criticism but a panegyric. It may be said, in exculpation, first, that Mr. Daniels worked in close friendship with the President for...

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CURRENT LITERATURE

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MY HEAD ! MY HEAD ! By Robert Graves. (Seeker. 5s.) Ma. GRA'VES has attempted an imaginative amplification of the meagre record of Elisha and the Shunammite woman's son,...

OF the author of this book, the publishers tell us

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that he has met everyone and been everywhere. He is also, we are assured, one of the wittiest raconteurs in London. We can well believe it. In a book of nearly 300 pages...

RUSSIA IN DIVISION. By Stephen Graham. (Macmillan. 7s. 6d.) Tins

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is in reality a book of essays about Russia, picturesque and informing essays, many of which have already appeared in the Times. Mr. Stephen Graham's conclusions and hopes are...

ORVIETO DUST. By Wilfranc Hubbard. (Constable. 10s. 6d.).

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This book contains three tales which Mr. Cimningliame- _ Graham, in his preface, recommends to novel readers as a change from their preoccupation with " the affairs of...

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The Shadow Captain. By E. B. and A. A. Knipe.

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(John Lane. 7s. 6d. net.)—Though the scene of The Shadow Captain is New York in the first decade of the eighteenth century, this novel is little concerned with the social...

FICTION

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ANCESTORS The Tree of the Folkungs. By Verner von Heidenstam• (GyldendaL 2 vols. 12s. net.) WE view the past through distorting glasses. Rome and Greece, flanked by a pyramid,...

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FINAliCE-PITBLIC AND PRIVATE NOT the least interesting feature of the

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present financial situation is the fact that there are unmistakable indica- tions of progress in the funding of international debts. In most respects this is a development to be...

CONDITIONS IN AMERICA.

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On the Continent of Europe somewhat easier Money Rates prevail and during the past weeks the Banks of Norway and Denmark have reduced their rate of discount, though it must be...

FINANCIAL NOTES SECURITIES FIRM.

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How far' the continued firmness of high-class investment stocks must be attributed to expectations of a 4 per cent. Bank Rate remains to be seen, - but undoubtedly hopes of that...

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POINTS FOR CONSIDERATION.

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Both from the Terms of Reference and the character of the Commission itself, it will be seen that irrthis great question of currency the interests of India are to be placed...

INDIAN CURRENCY COMMISSION.

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Quite the most interesting feature of the past week has been the announcement from India of the appointment of a Currency Commission, having for its chairman Lieut.-Commander E....