The nation remembers gratefully the King's gift of £100,000 from
his Privy purse towards the expenses of the War and the gift of £120,000 also made during the War by the then Financial Secretary of the Treasury. Some may remember the scheme proposed by Miss Malim since the War, and supported by us, for raising a voluntary fund towards the reduction of our national debts. Neither example nor precept had any wide- spread effect. A very generous anonymous . donor has now handed £500,000 to Messrs. l3arings to accumulate in their hands for the eventual reduction of debt. Immediately there will be no apparent gain ; the Treasury will only lose the donor's Income and Super Tax, but we know that they favoured the scheme because they passed last year the short Act which made it possible. Without that the Rule against Perpetuities and the Thellusson Act would have made the donor's generous intention invalid. Let us also here congratulate Cam- bridge on a further large anonymous gift just made to the Fitzwilliam Museum.
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