29 AUGUST 1947, Page 16

CRISIS AND BUBBLE Sia,—In your leading article of August 15th,

you rightly point out that the Government have taken powers—" ensuring that the whole resources of the community are available for use, and are used, in a manner best calculated to serve the interests of the community." In other words a blank cheque for our dictators. How reminiscent this is of the South Sea Bubble, where a man " asked the public to take shares in an under- taking, the nature of which was in due time to be revaled." The only difference is that we are both blindfold and unable to resist the Govern- ment knots.—Yours faithfully, ALBAN F. L. BACON. The Malt House, Burghclere, Newbury.