1 MARCH 1935, Page 2

The Policy of Public Works The report on " Public

Works Policy " which has just been issued by the International Labour Organization serves as a useful commentary, both upon Mr. Lloyd George's proposals and President Roosevelt's New Deal. It strong'y supports a systematic policy of national public works as a means of averting unemployment, bUt takes a long-range view covering successive periods of prosperity and depression. During the former a fund should be created which could be used to finance works in the depressed periods, and some works of undoubted economic value should, as far as possible, be reserved for execution during bad times. But it does not dis- approve of the method of financing them by loans provided the necessary safeguards are taken.

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