[To the Editor of the SPECTATOR.] SIR, —The opinions of Mr.
Keynes and Sir Josiah Stamp, coupled with the adinission of Sir Henry Strakosch, that " monetary policy has had some share in our impaired power of competition," suggest that there are grounds for including monetary eolicy in the terms of reference to the forthcoming
Coal Commission. Since neither mine-owners nor miners will be permitted to be judge in their own cause ; if monetary policy is included in the terms of reference, bankers should be excluded from sitting as members of the Commission.
If mine-owners and miners are to be requited to give evidence and submit to cross-examination upon their claim to be innocent of causing the trouble, in common fairness to them, representative bankers such as Mr. Montague Norman should also be questioned upon the effect of their monetary policy
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