1 MAY 1926

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* During the past six years the diminution of the

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National Debt charge had been £75,000,000 a year. FOrtunately all the thrift agencies had prospered in the last financial year. The receipts for the sale of Savings...

We have written about the Budget and its problems in

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our first two leading articles, but we must describe here some of its main points. The balance-sheet for the past financial year showed an actual revenue of £812,062,000 -...

Before he came to his proposals for new taxation Mr:

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Churchill said that beer showed a small increase in con : sumption, but that spirits had again fallen no doubt as the result of the very high taxation. On the other hand, tea,...

NEWS OF THE WEEK

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M R. CHURCHILL'S Budget, though it has a back- ground of gloomy financial conditions, has given us much more pleasure than we expected. It is a severely disciplined Budget...

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IMPORTANT NOTICE TO SUBSCRIBERS

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r Owing to the increase in the number of Postal Subscribers to the SPECTATOR it is necessary for notices of Changes of Address to be received by midday on Monday of each .week.....

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* * * * Mr. Churchill's explanation of the new

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taxation on betting was followed with profound interest. His scheme coincides exactly with that which we have advo- cated for many months in the Spectator. In order to avoid any...

* * The invitation was at once acted upon and

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since then there haVe been continual comings and goings which it is impossible for us to summarize. Always in the background there has been the Industrial Committee of the Trade...

In our judgment he has brought forward the best pos-

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sible one. Betting is the most glaring of all our national luxuries. Nobody need bet who does not want to. As for the. question of recognition, betting is, of course, already...

* * * After defending the silk duties, which he

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said had not increased the price of artificial silk though probably they had prevented it from falling, Mr. Churchill came to the MeKenna duties which he declared had not...

* * * . The. Budget assumes peace in the

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coal industry. As Mr. Churchill significantly said, if there was not peace he would be compelled to. make some entirely new proposals. That means, of course, large additional...

A gain of only ten cents in the dollar exchange,

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he went . on to point out, saved its on our purchases in the United States over £5,000,000 a year. On our War e' , debt to th United States it saved . us £750,000: There was...

The last important subject that Mr. Churchill dealt with was

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the promise by France to pay an unconditional minimum of £4,000,000 towards her War debt to Great Britain without prejudice to the impending settlement. It is a great pleasure...

Next, Mr. Churchill. proposed to extend the McKenna dirties to

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include commercial motor-cars, and to re-enact the Key Industries duties which otherwise would lapse this year. There is no need to add here to what is said in our first leading...

The irony of the situation would be complete if the

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bookmakers and the moralists combined forces in a mass deputation to Mr. Churchill. If some of the - delegates complained that betting was being suppressed,_ and others that it...

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* * * * This direct conference between the two

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sides had been made possible by the owners announcing that they would come to it without imposing " any limitations or reservations at all upon the discussions." We have not...

Yet GermanY can hardly, be expected to show herself such

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a benevolent animal as not to defend herself when attacked. In effect, she was 'attaCked when several Powers combined at Geneva to keep her out of the League at the last moment....

The Times of Tuesday published a letter from Mr. Ernest

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Law protesting against the uncouth " gyratory " to express the new circulating traffic arrangementi, when the simple English word " roundabout " is available. We agree and note...

The arrival of the Riff' delegates at Kiehl on Monday

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means a more hopeful phase of the Moroccan peace negotiations. Hitherto there had only been long- distance exchanges. When the Ritfi delegates were sixty miles from Ujda a new...

There has been a bursting asunder of the " British

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Fasciits." General Blakeney, their president, Very wisely desired the organisation to put itself at the disposal of the O.M.S. Since the foundation of the O.M.S., with official...

The text of the Russo-German Treaty has been published, together

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with the Notes exchanged between Herr Stresemann and the Soviet Ambassador in Berlin. The first article of the Treaty declares that the basis of the relations between Germany...

* * * * Bank Bate, 5 per cent., changed

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from 4 per cent. on December 3rd, 1925. War Loan (5 per cent.) was on Wednesday 11301x.d. ; on Wednesday week 102 ; a year ago lox d. Funding Loan (4 per cent.) was on Wednesday...

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TOPICS OF THE DAY

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THE BUDGET T HE first thing to be said about this year's Budget is that it is an honest Budget. There was need for an increase in taxation, and that need has been adequately...

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IMPERIAL DEFENCE AND ECONOMY

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O NLY one major line of economy is left open to us. There was a time—it seems far off but it was only four or Jive years ago--when we earnestly hoped for great economies in the...

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A WAR WITHOUT DOCTORS

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By ALEXANDER LANGLET of the Stockholm Tidningen. W HEN in the autumn I left Sweden with the sanguine hope of visiting Abd-el-Krim, I learned from the Secretary of the Swedish...

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THE HOMECROFT SCHEME

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By PROFESSOR J. W. SCOTT. T UE most of a year has passed since the generosity of Spectator readers made a scheme of Homecroft land-cultivation and housing a prospective...

THE WEEK IN PARLIAMENT

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FROM A CORRESPONDENT. T HE opening of the Budget is the centre of the Parliamentary year, the piece de resistance of the Parliamentary bill of fare. And Budget day is more than...

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THE PROPOSED " INDUSTRIAL DEVELOPMENT COUNCIL " [The National Fuel and

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Power Committee recommended by the Coal Commission is analogous to the sub-committees suggested in the following article.—En. Spectator.] * See Uttemigoyment, a Suggested...

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AT THE FINAL

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I T is hard to say which was the more interesting—the crowd at the Stadium last Saturday or the Cup Tie Final itself. But the crowd bulked largest, and deserves to be taken...

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PROUD CATS AND DOUBLE TULIPS.

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A CAT show is a humiliating business. At no time do we shOw ourselves such pitiful creatures as when we set out to exhibit our cats. Even if at home Champion . Surbiton Blue...

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In the old days we were told that in Imperial

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matters Downing Street never considered the wishes of " the man on the spot." Such a criticism certainly cannot be made • nowadays. In Mr. Amery we have a Colonial Secretary who...

Why is it that in Great Britain, a country so

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favourably endowed by nature, we understand so little about the " canning " of fruit and vegetables ? An inspection of the average grocer's shop reveals that most of our tinned...

SPECTAPILIA.

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IN the campaign for a " Brighter London " cannot anything be done to induce Londoners to make greater use of their squares ? A real improvement has been made in the display of...

* * At the annual meeting of the London Society

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a speaker asked why our museums and galleries were available only for the leisured people of London. I suppose the answer is expense. To keep our galleries and museums open to...

British ratepayers who are dissatisfied with their plight in some

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of our larger cities might study what the City Manager has achieved in the United States. On this side of the Atlantic we have the example of Dublin. Municipal affairs were in a...

I wonder whether we shall come to the introduction of

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the City Manager in this country, a person: who has a prominent position in the administration of many leading American cities. There is much to be said in his favour in fact if...

THE SPECTATOR.

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Before going on their holidays readers are advised to place an order for the SPECTATOR. The journal will be forwarded to any address at the following rates :- One Month . . • •...

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SIGNOR RUGGERI

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f" HAMLET," BY WILLIAM SHAKESPEARE-IN ITALIAN-. GLOBE THEATRE.] IT is the business of the dramatic critic to be well informed about the theatre, but one cannot know everything,...

* * * * The New Chenil Galleries were full

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of literary and artistic lions on Tuesday night to hear Miss Edith Sitwell's entertainment, which she called Facade. It consisted in a recitation of her poems off stage, through...

THE THEATRE

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A GALLANT EFFORT [4. HENRY IV, PART II," BY WILLIAM SHAKESPEARE AT STRATFORD-UPON-AVON.] WHEN the much-criticized Memorial Theatre at Sttatford was destroyed by fire, nearly a...

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CORRESPONDENCE

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A LETTER FROM BRAZIL [To the Editor of the SPECTATOR.] SAO- PAULO, BRAZIL. February 3rd, 1926. $in,—Carnival falls just a fortnight from now. Already the people, anticipating...

CHANGES OF ADDRESS.

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Owing to the increase in the number of Postal Subscribers to the SPECTATOR it is necessary for notices of Changes of Address to be received by midday on Monday of each week....

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THE O.P.M. SYSTEM [To the Editor of the SPECTATOR.] SIR,—Yes.

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Trading on the O.P.M. system is being overdone in this country. I agree with what Mr: A. M. Samuel said at Newcastle when he drew attention to the dangers of the OP.M. system....

THE ELECTRICITY BILL [To the Editor of the SPECTATOR.] SIR, —The- letter

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in your issue of April 17th from a power user, Mr. E. C. Stonehouse, Albion Mills, Wakefield, contains many good points. One seems to call for special emphasis—namely, the cost...

LETTERS TO THE EDITOR

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THE NATURE OF THE BRITISH DEBT TO AMERICA [To the Editor of the SPECTATOR.] Sin,—On September 19th last you were good enough to publish a letter I wrote trying to refute the...

COLLIERY LOSSES [To the Editor of the SPECTATOR.] SIR,—In the

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course of the last week four colliery companies re- ported heavy losses on their year's working, and were unable to pay dividends. The combined losses of these companies...

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BRITISH TRADE WITH AMERICA [To the Editor of the SPECTATOR.]

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• - Sin,—Many British concerns do a magnificent business in the States ; they have been developing thiti market vigorously and consistently for many years and with a keen...

THE OBSOLETE TRAMWAY [To the Editor of the SPECTATOR.]

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Sm,—The Tram versus Bus controversy has been raging recently, and it is surely time that the plain man realized the truth. The two pleas for the retention of the trams are : (1)...

THE INDUSTRIAL CHRISTIAN FELLOWSHIP . .

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[To the Editor of the SPECTATOR.] SIR, —Mr. J. B. White, in his letter on the Industrial Christian Fellowship, raises a question which is of far-reaching import- ance. He says...

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A THREAT TO CAMPERS-OUT [To the Editor of the SPECTATOR.]

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SIR,—May I call the attention of campers and scoutmasters to the Movable Dwellings Bill (ordered to be printed March 28rd, 1916, price 2d.) ? Clause 1 gives powers to local...

BRITISH WINE [To the Editor of the SPECTATOR.]

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SIR,—In spite of the fact that the modern British wine industry has been established for nearly a quarter of a century, the wildest misstatements are still being circulated...

ST. BERNARD [To the Editor of the SPECTXPOR.] Sni, — In the

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interesting critique of The Marvellous History of St. Bernard, the writer says " in his St. Bernard we discern nothing of the great statesman who was to influence the Counsels -...

FREE IMPORTS AND FARMING FOR SAFETY [To the Editor of

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the SPECTATOR.] Sia,—Referring to emigration from rural districts " Tantum," in your issue of April 10th, deplores the loss to the countryside aAd says : " Here are some figures...

SPELLING—TURKISH AND ENGLISH [To the Editor of the SPECTATOR.] SIR,—I

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am' pained by the conclusion of your note on Turkish spelling. Are you aware that in holding up to scorn those Turks who claim " the right to spell chaotically," you are really...

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LITTER

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[To the Editor of the SPECTATOR.] have much sympathy with the campaign against litter. Last Sunday afternoon the whole of the space in front of St. James's Palace was littered...

POETRY

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ARCADIAN We will buy an old house And since at ten-forty when we are richer ; each clock will be set, one to arouse time must report by the pen of an etcher : the twinkling...

EXTRACTS FROM LETTERS

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A PLEA FOR CLEAR THINKING. • Mr. William H. Glossop writes : " It is indicative of an apparent lack of clear thinking in the public mind that we are told simultaneously that :...

JOHN PEEL

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[To the Editor of the SPECTATOR.] Sia,—I don't know what authority your reviewer may think he has for saying that John Peel wore a white beaver hat. I doubt his using two hats...

ARTIFICIAL SILK

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[To the Editor of the SPECTATOR.] SIR,—WC very much appreciate your reference to our material, " Filtax," on page 750, in your issue of April 24th, but note that, in error, you...

WALKING IN CIRCLES

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[To the Editor of the SPECTATOR.] Sia,—I have just read, in your issue of April 24th, the letter from Africa on that subject. Being a cOnstant reader of your paper, I have...

THE LATE BISHOP -RYLE .

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[To the Editor of the SPECTATOR. ] • • Sni,—We have arranged for the publication of a Memoir of the late Bishop Ryle, to be written by - the Rev. Mauiice FitzGerald, who was...

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A BOOK OF THE MOMENT

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SIR RICHARD LOVELACE [COPYRIGHT IN THE UNITED STATES OF AMERICA by the New York Times.] The Poems of Richard Lovelace. Edited by C. H. Wilkinson. Two vols. (Published by the...

Unsolicited contributions to the SPECTATOR which arc not accompanied by

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stamped and addressed envelopes cannot be returned.

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IMPRESSION IST AN D LIBERATOR

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The World of Dreams. By Havelock Ellis. (Constable. 6s. Affirmations. By Havelock Ellis. (Constable. 6s. net.) IT is not certain that if anyone were asked to name the writers...

We have received Bigger Results From Advertising, by Mr. Harold

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Herd (Philip Allan, 9s.), and First Essays on Advertising, by Mr. J. Murray Allison (Cecil Palmer, 10s. 6d.). Both are important business bouks and will be noticed at a later date.

Mr. Maclaren has written an excellent book for young cricketers,

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The. Perfect Batsman, illustrating J. B. Hobbs in action by means of a series of cinema pictures, accompanied by expert and detailed explanations. If books could make batsmen we...

Mr. Merlon C. Cooper is a young American who has

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chosen adventure as his profession. In Grass (Putnam, 10s. 6d.) he tells, in uncommonly good English, of the great annual migration of the Baktyari Nomads in search of grass. A...

* * * Messrs. Berm have just issued an Encyclopaedia

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of Furniture f£2 2s.), compiled by Dr. Herman Schmitz of the Schloss Museum, Berlin, with an introduction by Mr. H. P. Shapland, editor of The Cabinet Maker. We cannot do better...

* * The Navarre Society have sent us six volumes

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of Fielding's Tom Jones, three of Amelia, also Joseph Andrews and Jonathan Wild, all edited by Professor Saintsbury. These well-printed and attractive books, with their...

The late Professor Murdoch compiled before his death the most

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comprehensive History of Japan ever attempted. The last volume, which is the result of an enormous amount of research, covers the period from 1651 to 1868. It has been revised...

The Navarre Society have also published the Complete Newgate Calendar

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in five volumes (23 7s. 6d.) collated and edited by Messrs. J. L. Rayner and G. T. Cook. In the preface the editors tell us that the times of which this calendar of crime have...

A NEW COMPETITION

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The Editor offers a prize of £5 for a " Specimen Day " in not more than 1,000 words. If only four hundred words are used we shall be so much the happier. But we have set the...

THIS WEEK'S BOOKS

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MR. BALDWIN has published a collection of his speeches and addresses (On England, Philip Allan, 12s. 6d.), which are reviewed on another page.

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SEX AND THE STATE

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The Need for Eugenic Reform. By Major LeOnard Darwin: (John Murray. 12s.) MIS work is in the nature of a magnum opus, and will probably become the standard work on modern...

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THE HIGH CALLING OF THE JOURNALIST

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Joseph Pulitzer. By Don C. Seitz. (Geoffrey Tiles. I es.) NEARLY fifteen years after the death of Joseph Pulitzer, the blind Colossus of American journalism, his publisher, Mr....

POLITICAL AND RELIGIOUS IDEALS

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National Resurrection. By Eustace Dudley, B.A. Oxon. (Longmans. 4s. net.) LIFE is a strange, complex business for all of us, and nothing brings this fact home to one more than...

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Mil. BALD WIN'S ADDRESSES

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On England and Other Addresses. By the Rt. Hon. Stanley - - Baldwin.. (P. Allan and Co. 12s. 6d.-nst.) TILE Prime Minister has consented to the publication of a: number of his...

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THREE PET-THEORY BOOKS

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Notes and Queries on the Origin of British Israel. By gENERAL HICRSON'R book is quite readable, though he ride's his intellectual hobby for a fall. ' Not content with the...

SENSE, NOT •SENSIBILITY

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Recollected in Tranquillity. By Janet E. Courtney, O.B.E. (Heinemann. 10s. 6d.) THERE is no sentimentality about Mrs. Courtney's recollections and the past, to her, does not...

THE QUARTERLIES

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Ix the Quarterly Review Mr. W. F. Watson writes an admir-' ably clear and well-expressed paper on What Ails the' Engineering Industry." He has been for twenty-five years ' a...

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• NEW MAGAZINES

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wE are well aware of the quantity and high quality of many monthly and quarterly magazines which to our regret we cannot find space to notice regularly. We like, however, to...

FICTION

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TWO DETECTIVE STORIES The Marylebone Miser. By E den Phillpotts. (Hutchinson. 7s. 6d. net.) WHEN authors who are known for serious work apply them- selves to detective stories,...

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Orange Street. By S. P. B. Mais. (Grant Richards. 7s.

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6d. net.)—It is difficult to say which is the most detest- able character : Nigel, the publicity agent—probably the worst in the world—Celia, his wife, or Brian Stucle', the...

GOOFS" ON THE GREEN

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The Heart of a Goof. By P. G. Wodehouse, (Jenkins. 7s. 6d.) THE fun never flags in these new Wodehouse golfing stories and there is never anything, however farcical, that is not...

1944. By the Earl of Halsbury. (Thornton Butterworth. 7s. 6d.

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net.)—This is one of the numerous books published recently which are intended to convey a warning as to the need of preparing for the next world war. The catastrophe in 1944 is...

OTHER NOVELS

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The Mystery Lady. By Robert W. Chambers. (Cassell. 7s. 6d. net.)—The title of this novel would have been even more appropriate had it.. been " The Mystery Man," for, though the...

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ONE of the most Striking iniptovements of recent years in

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Motor car ; engines - is their A - well-tubed engine of to-day, running at normal speed and with a good reServe of power in hand, emits scareelY. any -noise whatever. The...

LECTURES IN LONDON • Monday, May 3rd, 5.30 p.m.-LA PERSONNALITg

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' D'HENRI, BERGSON ET L'ANCLETERRE. By Professor F. Delattre. King's College, Strand'.. • ; - • Tuesday, May 4th, 5.30 p.m.-Is THERE.T00 MUCH BROADCAST- ING ? By Miss Sheila...

BOOKS -RECOMMENDED MiscELLANEous.-Disarmament. By Professor P. J. Noel Baker. (Hogarth

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Press. 12s. 6d.)-Hints About In- vestments. By Hartley Withers. (Nash and Grayson. • 13s . .)-Pirst Essays on Advertising. By J. Murray Allison. (Cecil Palmer. 10s....

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FINANCE-PUBLIC AND PRIVATE

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THE BUDGET AND THE CITY By ARTHUR W. KIDDY. IF the point is once conceded that the present level of National Expenditure is justified, then, from the City's point of view, Mr....

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A GREAT Loss.

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Although it is three years since Mr. Christopher Nugent retired from the management of the Union Discount Company, of London, the news of his death last Tuesday at the advanced...

• * * * * - HARLAND AND WOLFX.

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There are two points arising out of the recent speech by Lord Kylsant to the shareholders of Harland and Wolff, LiMited, which have made a considerable impression both on...

FINANCIAL NOTES

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FAVOURABLE FACTORS. THERE have been two factors operating upon the Stock Markets during the past week. The first was the somewhat unexpected reduction last week in the New York...

RALLY IN RUBBER SHARES.

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In the speculative markets a 'good- feature of _the 'week has been the better tendency of Rubber shares. This, in its turn, can be attributed to the effect produced upon the...

THE WHITE STAR DEAL.

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It was, I believe, either in connexion with rumours . eirentated many years ago that financial ownership . of the White Star portion of the International Mercantile Marine...