public, and help the application of war's lessons to the problems that
face us in peace.

The contents, with the exception of the last article on "Money or
Goods?" (which appeared in the Trade Supplement of the _Times_ for
December, 1918), have already been published in _Sperling's Journal_,
from September, 1917, to March, 1919; they have been left as they were
written, except for a few verbal corrections.

I desire to express my thanks to the Editors of _Sperling's Journal_
and of the _Times_ for their kind permission to reprint the articles.

H. WITHERS.

June, 1919.




CONTENTS


I
THE OUTLOOK FOR CAPITAL
The Creation of Capital--The Inducement--War and Capital

II
LONDON'S FINANCIAL POSITION
London after the War--A German View--The Rocks Ahead--Our Relative
Position secure--Faulty Finance--The Strength we have shown--The Nature