11 DECEMBER 1915, Page 3

Again, we would pay no compensation to the licence holders.

In the first place, the licences granted are only for a year and can be revoked. Next, the holders of them are not in reality independent persons, but, as regards the vast majority, only the paid servants of the brewers and distillers. As for the share- holders in breweries and distilleries, they,' as we- have said from the beginning, must be fairly treated, and receive their dividends during the war, or until such time as the nation has 'decided whether it will Ley out the monopoly or allow things to revert to the status quo. Similar compensation must be given, of course, to the breweries and distilleries which are not companies and to wine merchants. We do not suggest that anything should be paid to the holders of grocers' licences.