For the moment our world is still convulsed, and art of every kind trails a lame foot before a public whose eyes are fixed on the vast and bloody stage of the war. When the last curtain falls, and rises again on the scenery of Peace, shall we have to revalue everything? Surely not the fundamental truths; these reflections on the spirit which underlie all true effort in dramatic art may stand much as they were framed, now five years ago. Fidelity to mood, to impression, to self will remain what it was--the very kernel of good dramatic art; whether that fidelity will find a more or less favourable environment remains the interesting speculation. When we come to after-war conditions a sharp distinction will have to be drawn between the chances of sincere drama in America and Britain. It is my strong impression that sincere dramatists in America are going to have an easier time than they had before the war, but that with us they are going to have a harder. My reasons are threefold. The first and chief reason is economic. However much America may now have to spend, with her late arrival, vaster resources, and incomparably greater recuperative power, she will feel the economic strain but little in comparison with Britain. Britain, not at once, but certainly within five years of the war's close, will find that she has very much less money to spend on pleasure. Now, under present conditions of education, when the average man has little to spend on pleasure, he spends it first in gratifying his coarser tastes. And the average Briton is going to spend his little on having his broad laughs and his crude thrills. By the time he has gratified that side of himself he will have no money left. Those artists in Britain who respect æsthetic truths and practise sincerity will lose even the little support they ever had from the great public there; they will have to rely entirely on that small public which always wanted truth and beauty, and will want it even more passionately after the war. But that little public will be poorer also, and, I think, not more numerous than it was. The British public is going to be split more definitely into two camps--a very big and a very little camp. What this will mean to the drama of sincerity only those who have watched its struggle in the past will be able to understand. The trouble in Britain--and I daresay in every country--is that the percentage of people who take art of any kind seriously is ludicrously small. And our impoverishment will surely make that percentage smaller by cutting off the recruiting which was always going on from the ranks of the great public. How long it will take Britain to recover even pre-war conditions I do not venture to suggest. But I am pretty certain that there is no chance for a drama of truth and beauty there for many years to come, unless we can get it endowed in such a substantial way as shall tide it over--say--the next two decades. What we require is a London theatre