Finance—Public & Private
At Last—Economy !
WITH a persistence which I am afraid has been wearisome I have insisted from week to week in these columns that there could be no real improvement in the financial situation and no permanent recovery in securities until retrenchment in the National Expenditure and economy throughout the nation had become the watchword of the hour. Taking up some of the back numbers of the Spectator at random I see that on October 18th in last year for example, I concluded my weekly article by saying : "So long as we have politicians and Economists in turn offering us remedies which profess to be adequate in themselves for meeting the situation, but which leave untouched those matters involving economy in the national expenditure and self sacrifice and more intense effort on the part of all sections of the community, we shall not only make no progress but we shall get de3per and deeper into the morass."
As was almost bound to be the case, the situation has Culminated in a first-class political crisis, and the troubles occasioned by years of neglect of the essential require- ments of the situation have now involved the dissolution of a Party Government and the formation of a National Government irrespective of Party to bring about the retrenchment and economy so long overdue.
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