The correspondence on the problem of unemployment between Sir Allan Smith, formerly President' of the Federation of British Industries, and now President of the energetic Industrial Group in the House of Commons, and Mr. Baldwin, the Prime Minister, which has just been published has created considerable interest. On August 1 the Premier made a statement on the Government's intentions on unemployment. There was nothing new in it, and Sir Allan Smith wrote deploring its inadequacy considering the gravity of the problem, and making severa] suggestions to cope in a more practical manner with the evil, which is becoming chronic. Among other suggestions he asked that the Export Credits Scheme should be extended to Russia; that several overdue schemes of Imperla] development should be com. menced, and that a committee of business men should be appointed by the Government to inquire into the whole of the problem. The Labour Party immediately pointed out that these suggestions were identical with those they had been advocating for years. Bub Mr. Baldwin was no more encouraging to Sir Allan and the Industrial j Group than was Mr.
Bonar Law to Labour. Sir Allan was answered with the usual platitudes; told that Russia must do this, that, and the other, before she would be allowed to provide work for our unemployed and profits for our manufacturers. The setting up of a committee was vetoed and it was made as evident to Big Business as it was to Labour that Government intended to muddle on in the old way without inter= ference. In the meantime it is interesting to. note that capitalists are waking up to the fact that while a small margin of unemployed clamouring for work may be a benefit to them a huge surplus such as we have at present is a burden and a menace.
Text read from the printed page and cleaned; old type leaves the occasional error.