28 AUGUST 1926, Page 2

The Times of last Saturday published an exceedingly wise letter

from Mr. William Graham, the well-known Labour Member of Parliament, who pointed out how much common ground there is for men of all shades of -opinion to cover before we can reach a critical contro- versy as to whether there is to be a Socialistic State. Mr. Graham mentions the valuable work of the Balfour Committee appointed in 1924 and the Reports of the Department of Overseas Trade which, if studied and. acted upon, would undoubtedly bring the country such prosperity that the losses caused by insane industrial strife would be obliterated and forgotten. He also appeals, as we have done ourselves repeatedly, for a study of the industrial conditions in America where high wages are combined with cheap production (thanks to labour-aiding machinery) and the hand worker has attained such a degree of wealth as has never been experienced in any other country or at any other time. Mr. Kiddy, our financial contributor, writes in this issue of the Spectator that the City believes on the whole that a new spirit is coming in industry, that the need for the two sides to work together instead of fighting is at last being recognized. The City is usually shrewd in feeling the pulse of the nation and we earnestly hope that in this instance it may be right. Nothing could be a greater gain than the conviction that after all employed and employers must learn to live together if they are not to die together. * * * *