22 NOVEMBER 1930, Page 11

can last long that flouts this opinion. For every reason

both the companies and their employees will be well advised to state their case carefully in detail. If it be said that nothing but personal self-sacrifice will save the railways, the higher paid officials of the company will have to meet the demand that they shall share in the sacrifice. On the other hand, speakers on behalf of the men—whose wages nobody wants to see reduced—will not help their cause by talking about the shareholders as `.` blood-suckers." Hundreds of thousands of people who are by no means well-to-do have invested savings in the companies ; they are among the people who have put up money to pay for labour. Without it there would be no employment. To talk of the payment of a modest interest on this capital as being stolen by a parasitic class is silly.