25 JANUARY 1930, Page 36

A TRANSITION PERIOD.

They are, of course, widely different, but I think it should be added that we still seem to be in a transition period. So that when it comes to shaping a new and per- manent policy, one of the difficulties seems to be that of determining how much importance must be attached to the experience of conditions between 1844 and the War- period and to those extraordinary and fluctuating conditions which have characterized the period fkan the Armistice down to the present moment.