11 SEPTEMBER 1909, Page 3

We publish elsewhere an article by M. Yves Guyot, one

of the ablest and soundest of French students of economic subjects, and a former Minister of Public Works, in which he describes the results of the great Development Bill intro- duced in France by M. de Freycinet twenty years ago. We only make two comments. One is that Mr. Lloyd George's policy of development, though it sounds modest in its present shape, is likely, if the principle is once adopted, to grow into a Freycinet scheme ; the other that the net result will be a huge waste of the taxpayer's hard-earned money, a great deal of political corruption, and the minimum of advantage to the nation.