8 APRIL 1916, Page 2

Our only regret in connexion with the King's gift is

that the- Ministry have not made a better use of the incident. We should have thought that what they ought to have done was to ask the King to allow them to make his act the occasion for an appeal to all persons in the country, whether rich or poor, to give donations according to their means to a special War Fund. Such donations need not have interfered with the loan or with other subscriptions. By this means some twelve millions OD so might have been raised as a special emergency fund. It is possible, however, that there are objections to this course clear to the Government which we cannot see. In any case, the King has done the right thing in the right way, and has earned the respect and gratitude of us all.