6 DECEMBER 1924, Page 3

When Mr. Darling writes of the danger of a return

to the gold standard he is, as usual, admirable, and points out more clearly than we have yet seen it stated that it would be a return not to our gold standard, but to an American-controlled gold standard, with the pound tied fast to the dollar, and England definitely in the financial grip of Wall Street. He is led to the excellent conclusion that " the next move in the bank rate should be downwards instead of upwards." It is in our opinion refreshing to hear a banker of Mr. Darling's standing speaking in these terms. The opposite opinion is, of course, still held by the majority of banking and finan- cial experts, and our readers will find that opinion very well stated in this issue of the Spectator by Mr. A. W.

Kiddy, * * * *