15 JUNE 1929, Page 1

Mr. Snowden returns to the Treasury as Chancellor of the

Exchequer. He has shown himself in and out of office to have a sound appreciation of finance. He knows that a country's wealth is increased by economy and saving. If he can stick obstinately_ to his convictions against, all the pressure that will be' brought, lie will do well. Our fear is that a certain-acerbity, of which he has shown many signs, will hamper him. He is not patient with those who do not accept his cold reason, and grows hot where his friends or opponents might well be ingratiated. He may- suffer hiniself from the results of this failing or he may tr3:, to make his opponents suffer in ways of which his own truer judgment would disapprove. Lord Justice Sankey is raised to the Woolsack. This will give satisfactibn, we believe, to the Bench and the Bar. On 'personal grounds he will be heartily congratulated by all ..Welsh Churchmen, among whom he has earned profound respect: . The mining industry will naturally expect that the Chairman of the first Coal Industry Commission will, in the Cabinet, give impetus to the Sainuel Report, of which we may yet see parts put into operation.

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