7 JUNE 1919, Page 2

Mr. Chamberlain on. Monday obtained the sanction of the House

of Commons for a new loan.to be issued after the Whitsun- tide recess. He said that he wished to reduce the immense floating debt, at present not far short of £2,000,000,000, and that he hoped to receive £250,000,000 in new money A loan issued on favourable terms ought to be a great success, as there is much money awaiting_ investment But the Government would do well to make it clear to nervous investors that they will not countenance the wild and ruinous schemes for a " levy on capital," to which some Asquithian Liberals have unwisely given their approval. The mere suspicion that part of the money lent to the State might be confiscated would suffice to spoil the fair prospects of the new loan.