Interests--Shall we ultimately have One Huge Banking Monopoly?--The
Suggested Repeal of the Bank Act--Sir E. Holden's Proposal

VII
THE COMPANIES ACTS
Another Government Committee--The Fallacy of imitating
Germany--Prussianising British Commerce--The Inquiry into the Companies
Acts--Will Labour Influence dominate the Report?--Increased Production
the Great Need--Will it be met by tightening up the Companies Acts?--The
Dangers of too much Strictness--Some Reforms necessary--Publicity,
Education, Higher Ideals the only Lasting Solution--The Importance of
Foreign Investments--Industry cannot take all Risks and no Profits

VIII
THE YEAR'S BALANCE-SHEET
The Figures of the National Budget--A Large Increase in Revenue and a
Larger in Expenditure--Comparison with Last Year and with the
Estimates--The Proportion borne by Taxation still too Low--The Folly of
our Policy of Incessant Borrowing--Its Injustice to the Fighting Men

IX
COMPARATIVE WAR FINANCE
The New Budget--Our own and Germany's Balance-sheets--The Enemy's
Difficulties--Mr Bonar Law's Optimism--Special Advantages which Peace
will bring to Germany--A Comparison with American Finance--How much have
we raised from Revenue?--The Value of the Pound To-day--The 1918 Budget
an Improvement on its Predecessors--But Direct Taxation still too
Low--Deductions from the Chancellor's Estimates

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