30 DECEMBER 1922, Page 2

We are glad to note that the figures of unemploy-

ment published by the Ministry of Labour show a very considerable decline when compared with those of last year. The total on December 18th was 1,859,100, which is 465,683 less than the figures recorded at the beginning of last January. What will they be this time next year ? If trade revives they may- a year hence be down by a million. But trade will not revive till the joint problem of Reparations and of the Allied Indebtedness is settled. Those are the Poles on which the fate of the world turns. But for the solution of great problems, nothing is more clearly contra-indicated than Panic, Vindictiveness, Suspicion, and Pessimism. Courage, Generosity, the Constant Mind, Charity, :Faith and Hope —these are the solvent qualities.