17 FEBRUARY 1923, Page 1

The King's Speech 'defined the Goi , iment policy of " neutrality

" in the Ruhr in these words : " My Governnient, while feeling- linable either to concur or participate in this operation, are acting in such a way as not to=add to the difficulties of iheir. - Hope was held out of a settlement with Turkey, the Debt settlement was welcomed, and reduction of expenditure was promised. Trade revival was considered the only way to reduce unemployment ; credit facilities to agri- culturists, reform of local taxation, the straightening out of the Rent Acts tangle, Bills on Unemployment Insurance, housing, &c., were promised. " Tranquillity seems more an ideal than a practical policy.