Finance—Public & Private
A Foolish Vendetta
THERE are two main reasons why the attacks made by the Socialist Party and by a section of the stunt Press upon our banking system and our banking policy are very much to be deprecated at the present time. One is the obvious fact that the attacks play directly into the hands of those Socialistic extremists who make no secret of their intentions to make the nationalizing of the Bank of England a .foremost plank in their political pro- gramme although their former leader (in matters of finance), Viscount Snowden has more than once pointed out the folly of that policy and at the same time has spared no pains to make it clear that in his view both the Bank of England and the joint stock banks serve well the interests of the nation.
. It is just a year ago that when writing on this subject fny article was accompanied—by the courteous permission of the Daily Express—with the reproduction of one of Strube's admirable cartoons. It was entitled " If They Take over the Banks," and it depicted a Labour Cabinet occupying the Governor's Parlour at the Bank of England with the Bank messenger addressing the new Political " Governor " as follows : BANE MESSENGER : " The Printer wants to know how much money he can print to-day, Sir."
TILE GOVERNOR : " You tell him to print as much as he likes and give the boys a good time."
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