The House has never had a more difficult question to
decide. Human kindness prompted it to, say " Yes," while the stern spirit of Thrift muttered " No." On the whole, we are glad that humanity prevailed, but the decision, if it is worked out logically, must involve a good deal more than the extra millions in pensions. For it implies that all incomes and contracts must be readjusted to the new scale of prices, on the general assump- tion that a pre-war shilling is now worth sixpence. Landlords, for example, would urge that rents should in equity be doubled. The Home Secretary was evidently conscious of these larger issues, which will have to be faced if, and as soon as, it becomes clear that prices will not revert to their former level but will remain at what we used to regard as the American standard.
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