1 JANUARY 1921, Page 11

The King's Speech at the prorogation of Parliament expressed a

hope that trade might shortly reopen with Rusaia and that this might lead to peace in Eastern Europe. " is of the highest importance, however, that Poland and her neighbours should compose their political differences." The Speech mentioned the acceptance of mandates for ex•eneany territories and commended the work of the League of Nations. The Prince of Wales had in his Australasian tour " done much to strengthen the mutual sympathy and trust which cement the Empire." The Speech, after reviewing the work of the session, declared that there had been a steady return to normal con- ditions in industry. " The darkest cloud on the horizon—the growing amount of unemployment "—arose from the poverty of our foreign customers, who lacked credit and thus could not bay our goods. The Government were seeking to mitigate the hardships of unemployment, " as far as humanly possible."