Foreign News: Buying All Coal!

Momentously the Cabinet announced it has completed drafting the bill by which on July 1, 1942 all coal in the United Kingdom is to become the property of the State. The present private owners were asked some years ago at what figure they would be willing to sell out, replied $750,000,000.The new bill is to force them to sell out for $330,000,000 and its expected passage will provide another $50,000,000 to compensate them for special losses expected to arise in so huge a transfer.

The Church of England is today the largest recipient of royalties from British coal, draws some $1,850,000 yearly, while the Duke of Hamilton gets $565,000 and the Marquess of Bute $545,000. The Church is not expected to protest as Conservative Socialism cuts its revenues, wisely figuring that, if it gets as much as Mr. Chamberlain wants to give, it should in these times thank God.