At Carnarvon on Wednesday Mr. Lloyd George said that in
future the Liberals would probably hold the balance of power. How, then, ought they to acr? Personally he had made up his mind never again to sanction such action as had put Labour in office in 1924. In his opinion a great mistake had been tainmitted. We should much like to have Lord Oxford's 'opinion of Mr. Lloyd George's recantation. So far as we know Lord Oxford still thinks that he did the right thing. On the whole we think so, too. For the rest, Mr. Lloyd George Condemned the Nation's proposal for a regular coalition with Labour. Liberals, he declared, should work to improve their position without any thought of alliances, but with a constant readiness to co-operate with any party which would agree with them. In sum, he leaves the solution to time, which will certainly bring one.