Mr. Austen Chamberlain has done well in removing the Treasury
restrictions on new issues of capital for the home trade. The revival of industry and the starting of new enter- prises have been sorely hampered by the Treasury ban, which might perhaps have been lifted a few weeks sooner if the City had been unanimous in desiring its removal. Mr. Chamberlain explained on Monday that the restrictions on new issues for undertakings abroad would be maintained for the present, as the foreign exchanges were uncertain, and we needed all our capital for British concerns. Mr. Chaiqberlain's cautious handling of a delicate problem has made him the object of renewed personal attacks in the Northcliffe Press, which with Corsican persist nee never forgets a vendetta. Whatever Mr. Chamberlain does is wrong, in the eyes of these prejudiced critics.
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