The Locked Gates.

Since the initial concession of the United States (the Hoover moratorium) there is good ground to hope that eventually page 55 a solid reduction of inter-Governmental debts will be made. But when Sir George Paish talks about all banks being practically insolvent, the question is raised whether the politicians are moving too slowly. Progress in the tariff sphere is slower still, and those who emphasise the impossibility of collecting (in goods) overseas debts, over high tariff fences, see little light. To them it is like ordering your grocer to deliver, and then locking the gate. In a quite different sphere are the buyers' preference campaigns, which are entirely an appeal to the individual. It is a sign of our times that the patron of “Buy British” is the King's son; the patron of “Buy New Zealand” is the King's representative.