24 JULY 1926

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NEWS OF THE WEEK

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I N France the Governments of M. Briand and M. Herriot have fallen. We mentioned last week an ominously narrow majority in a crucial division in the Chamber. On Saturday M....

On Friday, July 16th, he put before the Finance Committee

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of the Chamber his proposals for "Special Powers." This amounted to a demand that the Govern- ment might legislate by decree until November 30th Hi financial affairs. Among...

The prospects of the new Government were as dis- couraging

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as could well be. The franc continued to fall and the Parisian Press, when not violently abusive, offered the coldest of cold comfort. The group of M. Louis Mann which did so...

On Saturday the Chamber met again. The Govern- ment put

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forward its motion for the special powers in the same form in which it had presented it to the Finance Committee and without the slight modifications recom- mended by the...

We mentioned last week the appearance of the Indus- trial

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Christian Fellowship upon the scene of the Coal Dispute. While we might cold-bloodedly doubt their worldly wisdom, we wholly admire their motives, courage and determination to...

EDITORIAL AND PUBLISHING OFFICES: 13 York Street, Covent Garden, London,

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W.O. 2. — A Subscription to the SPECTATOR costs Thirty Shillings per annum, including postage, to any part of the world. The SPECTATOR is registered as a Newspaper. The Postage...

The Index to Volume 136 of the SPECTATOR for the

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half-year ending June, 1926, is now ready. A copy will be sent post free to readers enclosing 18. in stamps, upon application to The Publishers, 13 York Street, Covent Garden,...

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It may be denied to the Fellowship to help directly.

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The Bishops and others who approached the Prime Minister carried the proposals, endorsed by the miners' leaders, that work should be resumed with hours and pay as before May 1st...

Thus there is still the appearance of trench-warfare, but these

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representatives of religious thought have done something towards breaking it up and securing that new negotiations will be carried on in a better spirit. Inci- dentally two...

In the House of Commons, on Thursday, July 15th, the

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Prime Minister gave particulars of the Agenda for the Imperial Conference of next October. They will include "a general review of foreign policy and defence and of -the...

On the same day the Commons returned to the Finance

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Bill and the clauses dealing with the Betting Duty were passed with the Chancellor of the Exchequer's amend- ments fixing the rate of duty on credit bets at Ea per cent., and on...

Thai House of Lords has approved the new Union of

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Benefices and Disposal of Churches (Metropolis) Bill, as received from the Church Assembly. The purport of the Bill as described in the first half of the title was scarcely...

We welcome the scheme and wish it well, but we

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must say, as we have said before, that we have little hope for small-holders making an economic success in competition with large-holders, unless they will co-operate. Co-...

On Friday, July 16th, the Minister of Agriculture moved the

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Second Reading, which was carried without a Division, of a new Small Holdings Bill. It is not an ambitious Bill, and we shall not expect it to change the face of the...

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On Tuesday the Under-Secretary for India spoke on the India

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Office Vote and reviewed the. present conditions in India. It was a satisfactory and hopeful report that he had to give. Since the policy of wholesale resignations had been...

Sir Ronald Lindsay has done admirable work at Con- stantinople

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and at Angora, where he has now gone to take leave and to effect the exchange of ratifications of the Mosid Treaty, which naturally owes much to him. If we did not think that...

It is long since the first rumours were heard that

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Lord D'Abernon was leaving Berlin. Now the appointment of Sir Ronald Lindsay to succeed him is definitely announced. Lord D'Abernon has lived down many prejudices and gained...

Communal rioting between the Hindus and Moslems blazed up again

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in Calcutta last week. The Moslems seem to have been- guilty of originating the trouble when they attacked a Hindu religious procession. In Western India there is also...

The course of the Belgian franc has mystified those who

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understand little of international finance. The Allies treated Belgium with a proper generosity through the War and in the distribution of reparations. Far more important, her...

We are glad to record the definite announcement that, all

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being well, T.R.H. the Duke and Duchess of York will go to Australia next year in order that the Duke may officially open on May 9th the new Federal Capital of the Commonwealth,...

General Wu Pei:fu is said to have taken a very

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satisfactory step in ordering the restoration of the Salt Gabelle which his subordinates had seized. If this order is effective, a most serious wrong may be righted, but the...

The Moroccan. War has for some time distracted the attention

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of the Press, but not of the Foreign Offices, from the working of the international constitution of Tangier. The Times correspondent there states that Italy is about to take her...

Bank Rate, 5 per cent., changed from 4 per cent.

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on December 3rd, 1925. War Loan (5 per cent.) was on Wednesday 1011 3 4 ; on Wednesday week 10011; a year ago 10(4. Funding Loan (4 per cent.) was on Wednesday 881 ; on...

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TOPICS OF THE DAY

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FRANCE F RANCE is in sad trouble again and has our heartiest sympathy. In her minor troubles we are often tempted to say, indeed we have said, that they are due to her own...

THE LEADERS OF THE CHURCHES AND THE PRIME MINISTER

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I F the door in Downing Street has not been banged and bolted against the peace makers,- as we believe it has not and never will be while Mr. Baldwin is Prime Minister, it...

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THE WEEK IN PARLIAMENT

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BY NEW MEMBER. I NTER-ALLIED debts, India, the Post Office, the Ministry of Transport, and (once again) the Betting tax, have all been discussed this week in a half empty and...

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"CLEAN AIR FOR LEEDS"

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w E have received from the Leeds Corporation a most interesting little booklet bearing this title. It seems that the citizens of Leeds, meeting together eighteen months ago to...

THE NEW SPIRIT IN ITALY'S LABOUR LEGISLATION

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[Signor Villari is entitled, as a distinguished advocate of Fascism: to answer the article which we published on July 10th from a correspondent in Italy. Fascism has fostered...

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WAYSIDE MARKETS T IMES change, and we keep on lamenting that

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this or that is different from twenty years ago. But changes are not all for the worse, and they sometimes bring new opportunities. Henry Ford has done more to alter the modes...

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A FOURTH STUMP IN CRICKET

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T HE drawn Test Matches have converted Lord Harris to the view that the rules of cricket need 'revision ! We live in a revolutionary epoch. Constitu- tions and dynasties; we...

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THE ALL-WORLD MOSLEM CONFERENCE

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BY SIRDAR IKBAL ALI SHAH HAVE just returned from Mecca, where I had the - 11 - honour of attending, as a delegate, the first All- World Moslem Conference. While in the holy...

Have you anything to sell ? Haulers have an unusually

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good opportunity of selling what they have to offer—services, the work of their brain, or their hands, the small possessions for which they no longer have any use, the preducts...

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THE THEATRE

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AN EARLY IBSEN [PILLARS OF SOCIETY. BY HENRIK IBSEN. EVERYMAN TH EATRE.] P.ISEN'S Pillars of Society was first produced in 1877. What . plays of that period have survived into...

WILL ROGERS

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[WILL ROGERS IN COCHRAN'S REVUE (1926). LONDON PAVILION.] It was strange after the sparkling, but irrelevant, perfor. mance of Spindly and the skilful dancing of Leonide Massine...

ART

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RENOIR AT THE LEICESTER GALLERIES IF good taste and efficiency were all that were required for the production of art, then England would probably have more great artists than...

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LETTERS TO THE EDITOR

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MISS GERTRUDE BELL [To the Editor of the SPECTATOR.] SIR,—Many obituary notices have appeared of the late Miss Gertrude Bell, but a few impressions, based upon a pretty close...

THE BETTING TAX IN SOUTH AFRICA [To the Editor of

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the SPECTATOR.] Sin,—In the Union of South Africa the taxation of betting is in the hands of the various Provincial Councils. The Cape Provincial Council made a provision for...

CORRESPONDENCE

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A LETTER FROM VIENNA [To the Editor of the SPECTATOR.] SIR,—Lately there have been exciting scenes in the Austrian Parliament, as the large problems about the Tenants' Pro-...

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MR. PHILIP SNOWDEN AND BRITISH EXPORT TRADE [To the Editor

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of the SPECTATOR.] Sin,— It has been interesting to watch, in subsequent issues of Your journal, the waves of agreement or criticism which have surged against the article...

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THE BINDING OF BOOKS

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[To the Editor of the SPEcTAToR.1 SIR,- It is a very common practice to make the outer margins of books most unnecessarily wide and the inner ones so ridiculously narrow- that...

WOMEN'S PIONEER HOUSING [To the Editor of the SPECTATOR.] Ste,--May

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I through your columns draw attention to the sixth Annual Meeting of Women's Pioneer Housing recently held ? Year by year this Public Utility Society, which has for its object...

WALKING IN CIRCLES [To the Editor of the SPECTATOR.] reading

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a copy of the Spectator of January 9th, I MIS interested in some correspondence about walking in circles in the letters to the Editor columns. An experience which actually...

BOOKS AND THE DATE OF PUBLICATION [To the Editor of

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the SPECTATOR.] Sin, -Your correspondent Mr. P. E. Chester rightly complains of the omission of the date of publication from the title pages of modern books. The omission of the...

"STOP THIS FOOLING"

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[To the Editor of the SVECTAT011.] Sin,- -When the Right Honourable Winston Churchill, M.P., was appointed Chancellor of the Exchequer the misgivings of a large number of...

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NELSON RELICS AT MONMOUTH

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[To the Editor of The SPECTATOR.] Sin,—Any of your readers who happen to be in, or near, Monmouth should see the Nelson relics which are on view in the town. They are labelled...

POETRY

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WATER-LILIES ASWAY in the water Those white cups and gold— Whom do they comfort And what do they hold ? Cupfuls of moonlight For fishes to take When to their dazzle They leap...

HOMECROFTING [To The Editor of the SPECTATOR.} Sin,—The several articles

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and letters regarding the above are being followed with considerable interest, and the further letter from Mr. G. W. Giles in your issue of June 12th raises two important...

MARSEILLES BRITISH MERCHANT SEAMEN'S HOSPITAL

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[To the Editor of the SPECTATOR.] Sin,—In 1924 I appealed for funds to complete and open this hospital. As a result of the response we were enabled to complete the building, and...

CHILDREN'S COUNTRY HOLIDAYS: THE " SPECTATOR " FUND

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'WE acknowledge gratefully further donations to our Fund, which raise the total received to £382 7s. 6d. Though we see here a great proof of the generosity of our readers, we...

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he 5p ectator

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FINANCIAL SUPPLEMENT BANKING AND INSURANCE No. 5117.] WEEK ENDING SATURDAY, JULY 24, 1926. [G R ATI S.

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BANKERS AND TRADE DEPRESSION;

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BY ARTHUR W. KIDDY. . [ THE position of the Banker in relation to our industrial - , problems must often be .a- very difficult one. From his intimate knowledge not only of the...

Subscribers' Changes of Address can only be effected for The

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current issue - if received at the " SPECTATOR " Office BEFORE MIDDAY ON MONDAY OF EACH WEEK.

SUPPLEMENT LONDON: JULY 24th, 1926.

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THE SPECTATOR.

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Before going on their holidays readers are advised to place an order for the SPECTATOR. The journal will be forwarded' to any address at the following rates One Month • • • •...

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OUR EXPORT TRADE

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IN any discussion regarding the present unhealthy state of our export trade there is a tendency to ascribe its condition to such causes as the disorganization resulting from the...

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BIG BANKS AND THE "SMALL MAN "

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• By F. E. STEELE. WnEN extensive amalgamations were taking place among the big banks towards the end of the War period, one of the many arguments put forward to justify the...

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THE 'GROWTH IN BANKING LOANS

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BY ARTHUR W. KIDDY. THE past two years have been characterized by certain features which at first sight do not appear to harmonize with the conditions suggested by banking...

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" THE INSURANCE PROFESSION AND EDUCATION

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BY GEORGE M: WYATT. THE extent to which facilities for Education are pro- vided in connexion with Insurance is not generally recognized, and to those .whoinay.be thinking of a...

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EQUALIZING INCOME AND EXPENDITURE

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BY SCRUTATOR And so, from hour to hour, we ripe and ripe, And then, from hour to hour, we rot and rot. TOUCHSTONE'S epitome of the growth and decay of human life carries...

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INSURANCE. THE CONDITION OF AVERAGE

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[COMMUNICATED.] To the layman in Insurance matters the Average Clause and its effect is not always clear, and this being the case an explanation in as simple terms as possible...

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London : Printed by W. STRAIGHT AND SONS, Up, 98

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and 99 Fetter Lane, E.C. 4. and Published by THE SPECTATOR, LTD., at their Offices, No. 13 York Street, Covent Garden, London, W.C. 2. Saturday, July 24, 1926.

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A BOOK OF THE MOMENT

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JOSEPH FARINGTON, R.A. [COPYRIGHT IN THE UNITED STATES OF AMERICA BY THE New York Times.] The Farington Diary. By Joseph Farington, R.A. Vol. VI. (Hutchinson. 21s. net). TIIE...

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A little book by Mr. J. Henry Jones. Healing by

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Manipula- tion (Watts, 2s. 6d.), written entirely for ordinary readers, explains very clearly the theory of " Chiropractic "-that the majority of diseases arise from pressure on...

THIS WEEK'S BOOKS

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Six new volumes of that. excellent series, the New Adelphi Library, suitable both for the pocket and the shelf of well-loved books, have been issued. They are Dramatic Se q...

We have received an advance copy of the Poppy Day

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Report for 1925, issued by a department of Lord Haig's British Legion Appeal Fund. The Poppy factory employs 190 almost totally disabled war veterans, and is, of course, an...

" A. E." has published his Collected Poem's (Macmillan, I0s.

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lid.), which will be nwiewed . shortly. • Another notable volume of poetry is Mrs. Mitchison's The Laburnum Branch (('ape, 5s.), but we trust-no reader will ever address a...

Swinburnc is master of a stately prose that marches to

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it conclusion like a ',Guards' platoon and in Vol. XI. and NIL of the Bonehureh edition of the Complete Works of Algerno,, Charles Swinburnc (a sumptuous edition published by...

A most interesting historical memoir of the tower of the

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Quth and the surrounding buildings has been published in the Memoirs of the Archaeological Survey of India, by Mr. Page, the Superintendent of the Survey. There are some...

'The title of Messrs. Dent's In Jacob Behmen's School reviewed

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in our last issue is as now given. In the same issue William Penn's delicious Fruits of Solitude (issued by Constable at 3s. 6d. with a preface by Sir Edmund Gosse) became by a...

The Royal Society for the Protection of Birds has issued

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its thirty-fifth Annual Report. Not only the English country- side but the surface of our adjacent seas is changing with the oil of Diesel engines and exhaust gases of...

We know next to nothing about the Chariot of Basil

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Valentine, the Spagyric Art, the Grand Magisterium, the Chain of Hermes, the Myth of Flamel, and so on, but we could learn all about these strange subjects and many others by...

THE COMPETITION

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The Editor offers a prize of 4:5 for a suggestion for a new competition. Tlima: is one thing in particular on wind) we should like to know our readers' opinion. We have tried...

BOOKS RECOMMENDED

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LITERATURE.-Venus and Anchises and other Poems. By Phineas Fletcher. (Oxford University Press. 10s. 6d.) --The Litera r y Landmarks of Devon and Cornwall. By R. Thurston...

RECREATIONS OF LONDON

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Wednesday, July 28th, at 5 p.m. Miss Ruth Draper will give a Farewell Performance of her original Character Sketches in aid of King Edward's Hospital Fund, at the Ambassadors'...

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RELA'l'l V1TY

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The Origin, Nature and Influence of Relativity. By tileorge David Birkhoff. (Macmillan and Co. Ss. M. net.) St IENCE never seems more worthy of admiration than when it suddenly...

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A VOICE IN THE CROWD

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The Book of Bodiey Head Verse. Chosen and edited by J. B. Priestley, with a preface by.!. C. Squire. (Bodley Head. 68.). Fuom a large number of books of verse, some grandiose...

THE DEDICATED LIFE

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Concerning the Inner Life'. By Evelyn Underhill. (Methuen. 2s.) "Do you see the great facts and splendours of religion with the eye of an artist and lover ? . Is your sense of...

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ANGLICANISM

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The Approach to Christianity. By E. G. Selwyn, B.D.: AMONG the younger clergy, none seems more active than Mr.; Gordon Selwyn, and it is he who had ImOst to do with preparing...

TALES OF TERROR AND TRIUMPH

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Four Years .Beneath the Crescent. By Raphael de Nogales. (Scribilers. 12s. Bd.) - • An Escaper's Log. By D. Grinnell-Milne. (John Lane. 7s. ad.) Tlik:SE two books are both...

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TIIS DAYS MADNESS. the • Author - Thi

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3ettles," asked Letty Monekton on her twentieth birthday what people ought to like ? " "Those, my dear, who a te best informed on the question at issue," was the tiresome reply...

THE WORK OF ERNEST NEWTON

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THE active career of Ernest Newton covered forty-three years, and his work was always typical of the best that was being done in any one of them. It was intensely English and...

FICTION

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THE HOUSE IN CHARLTON ..CRESCENT. BY Annie Haynes. (Bodley Head. 7s. 6d. net.)--There is little to say about this novel except that it is a good and startling Murder story, and...

CURRENT LITERATURE

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CATHOLIC REUNION. By Viscount Halifax. (Mowbray and Co. Is. 6d.) Loan HALIFAX has issued a pamphlet containing an address on Reunion which is marked by his deep piety and...

THE SIX SENSES FOR SCOUTS, By .- J. ,T. Gorman.

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(C. Arthur Pearson, Ltd. 2s.) . . . 'This is an admirable little book of instruction designed to show how the senses may be sharpened by intelligent practice. The "sixth...

THE GREEN MACHINE. By F. A. Ridley. (Noel Douglas. 7s.

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6d. net.)—The great scientist and explorer, Jinks, travels to Mars on an unspecified kind of machine—at any rate, there are not details enough for anyone to hope to repeat the...

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MARRIED LIFE. By Edith O'Shaughnessy. (The Story Series No. 2.

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Jonathan Cape. 7s. 6d. net.)—Under the title of Married Life Edith O'Shaughnessy publishes an exceedingly clever selection of stories. The author's talent is decidedly macabre....

READABLE NOVELS

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The Golden Scarecrow, by Mr. Hugh Walpole (Cassell, 7s. 6d.), is a new edition of an old favourite which must be mentioned simply because it is such a glorious children's book....

MOTORING NOTES

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TIPS FOR TOURISTS I AM writing this looking out of the window of a well-known motoring hotel. Before my eyes stands a car which is a silent warning to all motoring tourists....

THE WAR MAKER. By Alan Hillgarth. (Nelson. 7s. 6d. net.)--Although

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The War Maker is not quite as entertaining as Mr. Alan Hillgarth's last novel, The Princess and the Per- jurer, every reader who has been interested in the campaign of...

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FINANCE—PUBLIC AND PRIVATE

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IN consequence of exceptional pressure on our space, we are compelled to hold over this week Mr. Kiddy's comments upon finance, including the disastrous fall in the franc. Our...