CAUSES OF TIMIDITY.
This, of course, must be regarded as the merest rough outline of an idea rather than of a carefully considered scheme. It is one which unquestionably has its merits and deserves careful consideration. At the same time, I suggest that it will be well to remember some of the causes responsible for the present lack of confidence, because many of those causes would not be removed simply by the formation of such a syndicate as the one to which I have referred. For example, if 'kerne industrial project or some large issue of capital hete for our railway industry were contemplated, there might be difficulty in obtaining any large sum, and the difficulty would be due to a recognition of the innumerable adverse factors, political and otherwise, with which British industry has had to contend for many years past.
ARTHUR W. KIDDY,
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