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“Gentlemen,” he said, “you will probably wonder why we have invited you to meet us here to-day. We all know the unhappy state of affairs into which the country has fallen. There is dissatisfaction abroad; and the Government is being held responsible for conditions which were none of its making. I will speak plainly to you, for it is no time for reservations. Something must be done to allay public anxiety, which is growing more intense as time goes on. I am not one of those who take these passing scares seriously; but we cannot afford to ignore the present feeling: and some measures are necessary to satisfy this clamour. It is a time when all of us must come to the aid of the Executive.

“The Cabinet is dispersed at the moment. Many of the members are abroad and are unable to return at present, owing to a disorganisation of transport. But pending their return and the decisions which we shall then be forced to take, I thought it right to call together you gentlemen, large employers of labour, and to enlist your aid in the work we shall have to do. It is essential that the Government should retain public confidence at the present time. I think we are agreed upon that point. Nothing could be more fatal than a General Election forced upon us under the reigning conditions.