HESITATION.
The City realizes, however, with absolute clearness that there will be no return to .national' prosperity until there has been economy in the national expenditure, and such a complete co-operation—in the larger sense of the word—between capital and labour as shall ensure at one and the same time the maximum amount of efficiency and enlarged and Cheapened output. ' This must be combined with a scheme for ensuring to labour an adequate reward, and in particular an adequate reward to skilled labour, and to all who, perceiving the needs of the hour, are prepared to give of their time and labour to all that is required in the interests of the country. For this, however, strong leadership is needed, and at the moment the City finds it difficult to see where such leadership is to be found. ARTHUR W. KIDDY.
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