16 JULY 1921, Page 3

The outcome of this position seems to depend on whether

there is enough opinion in the country to form a party that is too Con- servative to vote with Labour and too Liberal to vote Unionist. If there are to be only two parties, the Liberals must be rent asunder and some must go one way and some another, swallowing principles and watchwords wholesale as they go. If, on the other hand, they are to remain as an independent party they must discover some real solid body of opinion in the country, which believes in and relies on all they stand for. And over all hovers the figure of the Prime Minister, uncertain which party he is going to lead, uncertain even of what parties there will be to lead, certain only that he is going to lead one of them.