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Lord Colwyn's Committee on the National Debt and Taxation, which

has sat for nearly three years, has published its Report, and though the Report is not in any way startling, it is a. highly important document. This was bound to be so as the Committee included such well- known economists and industrialists as Sir Josiah Stamp, Sir Charles Addis, Sir Alan Anderson, Sir Arthur Balfour, Mr. Henry Bell, and Mr. W. L. 'lichens. The Committee, it will be remembered, was appointed by Mr. Snowden when he was Chancellor of the Exchequer in the Labour Government, and its immediate object was to inquire into the desirability of a Capital Levy as a means of reducing the National Debt.

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