Tranquil Workers.

It has again fallen on a former Liberal, in the person of Mr. Walter Runciman, as Chairman of the Board of Trade, to rejoice in Britain's industrial progress under a policy of 10 per cent. tariff and off-gold. He said: “British industries had adapted themselves to the needs of the present time, and the work-people had shown a tranquillity and determination unrivalled in the world.” British patience has certainly been marvellous. The general strike of some years ago is forgotten. All classes have suffered. To keep industry going, and to pay the American debt, workmen have endured privation and taxable interests have been super-taxed. But the country has avoided repudiation. Its credit is high. And since the Soviet Republic itself asks its workers to invest in bonds, it must be assumed, on this anti-capitalistic evidence that the virtue of credit still has a place in the modern world.