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the House of Commons on Monday the Budget Resolu- tions were debated at great length and by many Members. Perhaps the most striking speech was that of Mr. Haldane, who contended that in two departments we should see a very material increase of our expenditure before very long. "To preserve the immense volume of trade which we still possessed we should have to spend a great deal of money on education. In naval matters, too, we could not stand still. Other countries were increasing their fleets, and we must not fall behind. In these circumstances some people took a rather gloomy view of the situation ; but, notwithstanding that there had been grievous extravagance, he did not think that as a nation we were so badly off as some prophets of evil were prone to suppose." This is, we believe, a perfectly sound view of the situation, and Mr. Haldane deserves great credit for putting it forward so courageously. It always requires a good deal of pluck for a leading Member of the Opposition to admit that the country is not going to the dogs, and to drop even for a moment the party rhetorio about "this in- capable and guilty Administration."
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