The Government and the Hatry Crisis The Cabinet is believed
to have discussed the Hatry crisis on Wednesday. It is right that the Cabinet should take cognizance of these matters, but the City is not unnaturally a little afraid that if the. Government con- template the necessity of legislation they may be tempted into spheres which are not related to company law or to the protection of investors. It would be impossible to take too much care in safeguarding the public, and in a leading article we have discussed this subject. We have no doubt that there should at least be an inquiry into company law, which seems to be inadequate under modern conditions, but the Government would have no excuse for pretending that the nationalization of banking would be a desirable consequence of the crisis. So far from helping the restoration of credit any such hasty step would have precisely the contrary effect. We cannot but believe that Mr. Snowden's well-known caution will make him aware of this.
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