tion to consider what measures, if any, should
be taken to protect the public interest in connection with the policy
of industrial combinations--a policy which the Board of Trade has
been sedulously fostering. Now comes a Committee to inquire "what
amendments are expedient in the Companies Acts, 1908-1917, principally
having regard to the circumstances arising out of the war, and to the
developments likely to arise on its conclusion, and to report to the
Board of Trade and to the Ministry of Reconstruction." It is composed
of the Right Hon. Lord Wrenbury (chairman), Mr A.S. Comyns Carr,
Sir F. Crisp, Mr G.W. Currie, M.P., Mr F. Gaspard Farrer, Mr Frank
Gore-Browne, K.C., Mr James Martin, the Hon. Algernon H. Mills, Mr
R.D. Muir, Mr C.T. Needham, M.P., Mr H.A. Payne, Sir Owen Philipps,
M.P., Sir William Plender, Mr O.C. Quekett, and Mr A.W. Tait. The
secretary is Mr W.W. Coombs, 55, Whitehall, S.W. 1. There are some
good names on the Committee. Mr. Gaspard Farrer represents a great
issuing house; Sir Frank Crisp, company lawyers; Sir William Plender,
the accountants; Mr O.C. Quekett, the Stock Exchange; and Sir Owen
Philipps, the shipping interest. Nevertheless, one cannot help
shuddering when one considers the dangers that threaten British
finance and industry from ill-considered measures which might possibly
be recommended by a Committee influenced by the atmosphere of the
present outlook on financial and commercial affairs.

One of the interesting features of the present war atmosphere is the
fact that, now when we are fighting as hard as we can to defeat all
that is meant by Prussianism a great many of our rulers and public
men are doing their best to impose Prussianising methods upon this
unfortunate country, merely because it is generally assumed that
Prussian methods have been shown, during the course of the war, to
carry with them a certain amount of efficiency. It is certainly true
that Prussian methods do very well as applied to the Prussians and
submitted to by other races of Germans. On the other hand, it is at
least open to argument that the British method of freedom, individual
initiative, elasticity and adaptability have produced results, during
the present war, which have so far been paralleled by no other country
engaged in the contest. Working on interior lines with the assistance
of docile and entirely submissive allies, Germany has certainly done
wonderful things in the war, but it by no means follows