his predecessor for its ability and lucidity. Personally, I thought
rapidity was its most notable characteristic. Unhampered by manuscript
(save a couple of sheets of notepaper containing a few of the
principal figures) and relying upon his exceptional memory, he rattled
through his thousand-million totals at such a pace that my panting
pencil toiled after him in vain. In seventy-five minutes by the clock
he spoke four solid columns of The Times.

As we have failed to drink ourselves out of our difficulties, for the
Excise returns show a steady falling off, we are to do our bit towards
smoking ourselves out of them by paying 1s. 10d. a pound more on our
tobacco. This last impost constitutes a real piece of self-denial on
the CHANCELLOR'S part, for he is much addicted to cigars both long
and strong, somewhat resembling those which enabled Mr. W.J. TRAVIS to
carry off the Amateur Golf Championship to America.

_Thursday, May 3rd._--The secrets of the Budget were so well kept that
Mr. LAW himself forgot the most important of them until to-day. In
future it will be a case of "one man (or woman) one dog," unless the
owner is prepared to pay on an ascending scale for his extra pets. In
our fight with Germany we must neglect no precaution however small.
To get the KAISER back to his kennel we will, if necessary, empty our
own. Doggedness is essential to victory, but not over-doggedness. Then
let us, in CALVERLEY'S phrase, "curtail the already cur-tailed cur."

* * * * *

[Illustration: A CADET'S DAY.

9 A.M.--SAD BAGS. 7 P.M.--GLAD RAGS.]