MINISTERS' FADS AND FANCIES.
At the Annual Meeting of Power Securities Corporation the Chairman, Mr. George Balfour, was able to report a year of progress, and among other things he showed that the net income for the year of £122,316 represented an increase of £10,000 over the last year's figures. The expenditure. however, also increased moderately, and the balance of profit of £81,655 showed an increase of a little over £2,000. Mr. Balfour in the course of his speech made some very interesting comments upon the general financial and com- mercial situation, and in commenting upon the figures of unemployment here expressed the opinion that a very large proportion of our unemployment and trade depression was due to the unceasing activity of Parliament in manufacturing remedies, and he said, " My own opinion is that these conditions will remain unchanged until we are able to stop the Government of the day from exercising their powers merely to run the State as an experimental laboratory to try out the fads and fancies of Ministers and others who have not distinguished themselves in the realm of commerce, industry or administration. In saying this I am referring not only to the present Government but to Governments which for some time past preceded the present Government." " Our future prosperity," Mr. Balfour added, " depends upon efforts of individuals and not of States ; all the people require is freedom of action." Mr. Balfour's words will find a very strong endorsement in the City.
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