“A LIMIT MUST BE FIXED.”

Then followed Mr. Mckenna, and he immediately arrested the attention of the House by his dictum that if expenditure passed a certain limit, it must be injurious to the nation, even if every penny were wisely spent. “What is the limit?” Mr, Faber interrupted. “£8,000,000 a day” was the unhesitating response, Mr. Mckenna’s argument ran thus:

Colossal expenditure at the present rate means a great inflation of the currency.

Inflation of the currency means a great rise in prices.

A great rise in prices means dangerous labour unrest.

Dangerous labour unrest is as crippling as defeat in the field.

It was time this inexorable logic was employed in the House of Commons, and Mr. Mckenna did it well. Obviously feeling that the motives of his criticism might be misjudged he declared that his sympathies were “absolutely and entirely” with the Chancellor of the Exchequer, and offered to do everything in his power, in the House and out of it, to support Mr. Bonar Law in the unpopular duty of refusing demands for increased expenditure, however proper and justifiable in themselves. Eight millions a day! In his view not another penny must be added thereto, and every effort must be made to allocate it according to the most urgent needs. The only remedy was a close and closer control. The duty of one and all was to support the Chancellor of the Exchequer.