4 MARCH 1916, Page 2

Lord Kitchener and Mr. Balfour also spoke at the meeting,

and said just the things that one would expect able, sensible, and patriotic men to say on such an occasion. We fool, how- ever, that their speeches, like that of Mr. McKenna, lacked the one thing needful—the determination to cut down the expendi- ture which is hampering our militant action, and to cut it down by the mandatory word which must be obeyed : Taxation.

For this reason we would far rather have seen the Budget introduced on Wednesday than have had the Guildhall meeting.