24 MARCH 1917, Page 3

Another correspondent points out that we took a lead in

opposing the ridiculous scheme, so characteristically brought forward by the Germans, under which we were to go into a kind of partnership with them in building the Baghdad Railway. We were to provide the money, or rather supply the assets upon which money could be borrowed. The Indian Mail contract, worth a quarter of a million a year, was to be taken away from the P. and 0. Steamship Company, while Germany was to be the predominant partner in the matter of control and direction. Certainly we are proud to think that we helped materially to prick that poisoned bubble.