[Illustration: THE PROMISE OF MAY.

_Peace_. "IF YOU'RE WAKING, CALL ME EARLY, CALL ME EARLY, BONAR DEAR,
FOR I'M TO BE QUEEN OF THE MAY, BONAR; I'M TO BE QUEEN OF THE MAY."]

_Tuesday, April 1st_.--Twenty years ago there used to be a not
infrequent headline in _The Times_, "The Duke of Devonshire on
Technical Education," which always struck on my frivolous spirit
with a touch of infinite prose. It is the same nowadays, I regret to
say, with a Lords' debate on the national resources. The Upper House
is filled with eminent financiers--men who think in millions and
who under our glorious Constitution may not propose an expenditure
of sixpence without the consent of Tom, Dick and Harry in the
Commons--and they all talk the most excellent good sense. But whether
such unimpeachable truisms as that "this huge Debt is going to be a
terrible handicap to this country" (Lord LANSDOWNE), or that "what
applies to private credit and private economy may be in the main taken
to apply to public economy and also to public credit" (Lord CREWE),
are going to have much effect upon the demands of the Labour Party, to
whom they were directly addressed, I am rather inclined to doubt.

It is refreshing to note, however, that the Commons had a brief
spasm of economy. Under the financial resolution of the Ways and
Communications Bill the new Minister would have had almost unlimited
powers of initiating great enterprises without the consent of
Parliament. Mr. R.J. MCNEILL alluded (without acknowledgment to Mr.
Punch) to the hero _Eric; or, Little by Little_, and urged that
not even "a Napoleon of administration" ought to be trusted with
a blank cheque. He rather spoilt a good case by referring to the