The American Congress has accepted the British debt settlement, and,
as we write, all that is needed to make the Bill law is the President's signature. A very inter- esting situation has arisen on the question of the limitation of immigration into the Union. Strict limitation was thought to be the settled policy of the Government, but now " the leaders of industry " have come before the Senate Committee on the subject and are predicting economic disaster if unskilled labour under contract is not allowed to come in. Mr. Welch, of the Youngstown Sheet and Tube Company, pointed to the soaring prices as a proof of the need of an unrestricted labour market. We trust that it will not be taken amiss if a journal so deeply and firmly attached to Free Trade traditions as the Spectator points to another possible but, apparently, neglected cause for soaring prices in soaring tariffs.
Previous page
