at prices approximating to those charged in this country for inland consumption—these were terminated in 1919, and the prices of export coal immediately mounted. Some coal-owners, who were granted export permits, realized large profits; others, who had previously suffered loss owing to their being restricted to inland trade, continued to labour under heavy financial difficulties, which were made still more onerous by the reduction of the price of household coal by 10_s._ per ton in December 1919. To maintain the compensation arrangements of 1918 would have involved the State in heavy subsidies, as a large share of the export profits would have been left in the owners’ hands, and loss, for which compensation would have to be paid, would still have been inflicted on collieries producing for the home market. The Coal Mines (Emergency) Act, 1920, was accordingly passed, which repealed the Act of 1918 from April 1, 1919, and provided a new fund from which compensation was to be drawn for collieries working at a loss, but into this fund all excess profits were to be paid, and not a percentage only, as in the case of the 1918 fund. The Sankey Commission The shortage of coal, of labour and of transport in 1918, when the German offensive was at its height, led to the rationing of coal, gas and electricity, which continued for about two years. After the Armistice, in November 1918, trade activity increased, the industrial demand for coal grew, and the domestic demand as well, when demobilization was accelerated. The Coal Mines Department only just managed, with the greatest difficulty, to secure an equitable distribution of coal, and this it accomplished with great efficiency. These difficulties were increased by the miners’ threat to strike in the beginning of 1919 unless demands for increased wages and reduced hours were conceded. The Government replied by passing the Coal Industry Commission Act, 1919, which set up a Commission under the chairmanship of Mr. Justice Sankey. The Interim Report of the Commission (_Parliamentary Papers_, 1919, Cmd. 84, 85 and 86) recommended a national increase of 2_s._ per shift to all adult colliery workers, a 7-hour day underground and 46½ hours per week for surface workers as from July 16, 1919. These recommendations were put into operation by the Government. Section 1 (_f_) of the Act required the Commission to inquire into “any scheme that may be submitted to, or formulated by, the Commissioners for the future organization of the Coal Industry, whether on the present basis, or on the basis of joint control, nationalization, or any other basis.” On this matter the Commission presented four reports (see _Parliamentary Papers_, 1919, Cmd. 210 and 360): (1) by the Chairman; (2) by the Labour representatives; (3) by the representatives of coal-owners and employers in other industries, except Sir Arthur Duckham, and (4) by Sir Arthur Duckham. Reports (1) and (2)