IMPERIAL CONSIDERATIONS 187 



branch — how are the pressing economic problems to 

 be considered and solved ? 



Let me repeat, at the present moment we have no men 

 of official status giving proper consideration to these 

 problems ; and therefore we are living an absolutely 

 hand-to-mouth existence. Can anything be more 

 dangerous to our Empire and Kingdom ? 



From this want of thought and guidance in economic 

 questions a further danger arises. Great industrial, 

 commercial and financial groups bring pressure to bear 

 upon the Government, and often their case is stated so 

 forcibly that they carry their point. It may be a sound 

 development that is advocated, or it may be one that 

 clashes with other and more sound developments ; or it 

 may be a scheme which, while beneficial to the group, 

 is far from being so to the Empire. 



It is all a lottery, and bad, because it is piecemeal. 



We require, to meet the needs of the present situation, 

 an Economic Council which would act as advisory to 

 the Government, which would consider the different 

 economic questions not only on their own merits but 

 from the Imperial and National points of view. 



And it should not be like the advisory committees 

 which were rife during the war, which only considered 

 tjuestions (often superficial) as they were submitted by 

 the Departments concerned. 



This Economic Council should be composed of a 

 small group of leading economists and patriotic financiers, 

 and should have the power to formulate economic /wlicy 

 and submit it to the Cabinet. This Council would really 

 be the " thinking department " for the Empire and 

 Kingdom. It would confine itself to the consideration 

 of ftindamental problems. 



We must have an economic policy without delay if 



