VII

THE COMPANIES ACTS

March, 1918?

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—In-
dustry cannot take all Risks and ao Profits,

EVERY week—almost every day—brings with it the
announcement of some new committee considering
some question that may, or may not, arise now or
when the war is over. Especially in the realm of
finance has the Government's output of committees
been notably prolific of late. We have had a Com-
mittee on Currency, a Committee on Banking Amal-
gamations, and a Committee appointed, humorously
enough, by the Ministry of Reconstruction to consider
what measures, if any, should be taken to protect
the public interest in connection with the policy of
industrial combinations—a policy which the Board
of Trade has been sedulously fostering. Now comes
a Committee to inquire " what amendments are
.expedient in the Companies Acts, 1908-1917,