An Economic Symposium The remarkable symposium on British monetary policy
which has appeared in recent numbers of The Economist provides a valuable bas' is for an agreed monetary and economic policy for this country. The contributions included experts, of very different points of view, from the Universities, the City, the Civil Service, and on the main issues were to a remarkable extent in agreement. There -was general acceptance of the view that the present period of prosperity is unlikely to last of its own accord. With the decline of building and constructional works it will become dangerously dependent on rearmament. Thus with a view to stimu- lating prosperity in future years by increased public spending, borrowing and public works programmes, a policy of economy and debt reduction is to be advocated now. In this there is no support for a loan-Budget to finance rearmament. Further, all the contributors agree that there should be a relaxation of tariffs and quotas, beginning with those which increase food prices and industrial costs : "there is thus an overwhelming case for the suppression of the beef and bacon quotas and the reduction of the steel tariff." It is gratifying to find experts in such agreement, and on policies which The Spectator has constantly advocated.
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