On Tuesday morning the coal-owners and the miners' leaders were
informed that the Government would renew the offer of 00,000,000 to the industry. They then completed their agree- ment, and the miners' leaders issued an appeal to their unhappy followers to accept the wages settlement as "the maximum which can be secured." The leaders admitted that the" national profits pool" could not be obtained. "Every economic and political factor is dead against us." They proceeded to argue that the new terms were better than the old, and that the profit-sharing principle, suggested by the owners, was an entirely new departure and "would provide a juster method of fixing wages and profits" than they had ever had. They did not say that the terms now recommended might have been had in March but for their own obstinacy and folly. They begged the miners to resume work forthwith.
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