19 JANUARY 1924, Page 1

If the nation loses confidence it will mean that it

has lost faith in itself, and that will be the beginning of the end. No doubt statesmen are not incapable of the folly of placing partisan interests and personal bitterness above the general good, but they can always be " better taught," in -Dryden's phrase, and can be quickly reminded that in a democracy they arc the servants and not the masters. In our opinion there is no jnstification whatever for gloom, though there is plenty for vigilance. The greater the difficulty, the clearer the call for energy and determination.

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