Monday, Jul. 21, 1930

Again Noah; Again Whale

Exactly as if nothing had happened, Conservative Leader Stanley Baldwin came out last week for "Empire Free Trade" (TIME, Dec. 2 et seq.). This was his second coming. Originally he was cold toward this scheme concocted by Baron Beaverbrook, Hearstlike press tycoon, but embraced it last spring to prevent a split in Conservative ranks. Three weeks ago he broke absolutely with Baron Beaverbrook (TIME, July 7). Then, last fortnight, came the British Bankers' Manifesto demanding "Empire Free Trade." By the end of last week Mr. Baldwin had heeded the bankers and plumped for E. F. T. again. Meantime his ludicrous middle position was masterfully caricatured by the Conservative Evening Standard's famed David Low, astute New Zealander as a Jonah & Whale story.

The Whale exhibits to perfection Lord Beaverbrook's famed "flat grin." The lady under the bonnet is not Queen Mary, who is only supposed to wear such frights, but "Lucy" (Mrs. Stanley Baldwin) who actually wears them.

Significance. After Jonah Baldwin's return to the Whale's inside, the various groups in the Conservative party seemed last week more nearly united behind a single program than they have been for months.

"Tailors of Tooley Street!" Of course "Empire Free Trade" is a deliberately misleading name. Major feature of the scheme is to erect a tariff wall around the Empire. (Only incidentally is trade to be free within the Empire.) Last week embittered Chancellor Philip Snowden, a Socialist who is opposed to any tariff wall, sneered at the bankers' manifesto: "Who are these financiers? I've never so much as heard of four of them! Nothing so impudent as professing to represent financial opinion has been forthcoming since the notorious manifesto of the tailors of Tooley Street."*

*Three tailors of Tooley Street, London, once addressed to the House of Commons a petition of grievances beginning--"We, the people of England. . . .:)

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