19 JULY 1913, Page 3

For ourselves we believe implicitly the disclaimer made by Mr.

Churchill on behalf of himself and the whole Board of Admiralty as to oil transactions, but the fact that it was made, and indeed had to be made, can only be regarded as a national humiliation. That humiliation is due to one thing, and to one thing only—the lack of delicacy, of discretion, and of candour shown by the three Ministers primarily implicated in the Marconi transactions. Actions such as theirs must have their consequences, whitewash them as we will, and these conse- quences we are now beholding. It is a pitiable business.