The leading bankers, commercial men, and politicians who have asked
for an International Economic Conference met the Chancellor of the Exchequer on Tuesday. They impressed upon him, as Mr. McKenna had done upon his audience, the stern truth that European Governments must make their expenditure and their revenue balance. Then, and only then, could they hope to receive assistance through public or private channels. The deputation made it clear that Europe could not hope for a financial miracle. Hard work, increased output, and private and public retrenchment formed the only cure for existing evils. Mr. Chamberlain, we are sure, was heartily in accord with the deputation. It should help him to restrain his more extrava- gant colleagues from launching new projects entailing vast expenditure. The country cannot afford any more "reforms" for the present.
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