24 JANUARY 1931, Page 3

has been extremely vigorous and at times bad-tempered. The Unionist

Central Office began with a vindication --with which we entirely agree—of Mr. Baldwin's bargain with the United. States in 1923. Mr. Lloyd George replied with a scathing attack on that bargain. " The headlong action of Mr. Baldwin in 1923," he said, " in spite of the desperate protests of his own chief, Bonar Law, is largely responsible for the financial difficulty with which the nation is confronted." The Times with opportune unkindness then reprinted extracts from an article which Mr. Lloyd George himself wrote for an American newspaper in 1928. That article heartily praised Mr. Baldwin's transaction. It is true that Mr. Lloyd George had not seen the exact figures when he wrote and that he pointed. this out. But unfortunately for him he cut away his ground for future protests by declaring that mere percentages were of no matter in view of the supreme necessity of ensuring Anglo-American good will.

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