7 MAY 1932, Page 8

While these matters have been simmering in the lobbies, Major

Elliot has been holding the fort admirably for Mr. Chamberlain in the House. On Wednesday last week he had the awkward task of resisting a demand for periodic publication of the accounts of the Exchange Equalization Account. This demand was pressed by those who welcome the creation of the Account solely as and if it is to die used as an instrument of inflation. But publication of the accounts would be a present of free information to speculators in the Exchanges, and the proposal had to be resisted ; even at the cost of the constitutional objection that a tremendous financial weapon is being reinoVed from the control of the House of Commons. •