DEFERRED PAY, ALLOWANCES AND RATION 33

of wages, even if a scheme for deferred pay orthe like is agreed to.

To meet this an important section of opinion,which has received the weighty support of SirArthur Salter , Mr. R. H. Brand and Prof, andMrs. Hicks, recommends that a minimum rationof consumption goods be made available at a lowfixed price, even though this might involve sub-sidies. If I were advising the Treasury, I shouldlook with anxiety on such a proposal taken byitself, since it might in certain circumstances placean almost insupportable burden on the Exchequer.But if it were made part of a comprehensivescheme, including the deferment of a proportionof earnings, agreed with the Trade Unions , Iwould welcome it.

The minimum ration should not comprise allthe articles covered by the cost of living Index,but should be restricted to a limited list ofnecessaries available in time of war. Nor shouldany absolute undertaking be given as to futureprices. It should be agreed, however, that in theevent of any rise in the cost of the minimumration, the Trade Unions would be free to pressfor a corresponding increase in wages.

But it should be an absolute condition of suchan arrangement that a scheme for deferred payshould be accepted at the same time, and that theTrade Unions should agree, subject to the abovesafeguard, not to press for any further increasesin money wages on the ground of the cost of living.

Without these conditions the weight of pur-chasing power available in the hands of consumers