He pointed out that it was impossible to go on
spending money as though things were normal. Sometimes a retreat was the best tactical preparation for an advance. When he had spoken of disagreeable and drastic measures he had in mind an increase of taxation which would un- doubtedly be " disagreeable for the people upon whom the taxation was levied." He had never contemplated an attack upon wages. All that he had thought of was a "temporary suspension of social schemes." He was ex- tremely caustic about Mr. Lloyd George's speech on Thursday, February 12th. He did not hesitate to say that Mr. Lloyd George had lowered the national credit by per cent. and had definitely made a conversion loan more remote. Finally, he said that if he was to be charged with perfidy when he told the truth his position would become intolerable, but he was confident that the Labour Party would not shrink from facing facts. It is reported that most of Mr. Snowden's hearers were im- pressed as' well as depressed, but on the other hand Sir Oswald Mosley, who pooh-poohed Mr. Snowden's solemnity, had many supporters, and this group may be able to bring about another meeting. We fancy that in that event Mr. Snowden will be an absentee.
* * * • *
Previous page
