economics, which, whether we regard it in its
subliminal or its pragmatic aspects, cannot fail to have influence on
the dynamics of International Industrialism.

One word more. The conglucination theory appeals with especial force to
_Punch_, because it reminds him of the kindred and remarkable
speculation on Snooling discussed by him many years ago. The new theory,
like the old, deserves to be treated "in no spirit of sedentary
sentimentalism, but in its largest and most oleaginous entirety. It is
no plan for fixing hat-pegs in a passage, nor is it a mode of treating
neuralgia with treacle." How true and appropriate this is. _Mutatis
mutandis_ we may add the further statement that it is "the truest and
tenderest thesis that can occupy the most calculating cosmopolite." The
corporate pursuit of a granulated conglucination is perhaps the highest
achievement of which the present generation is capable.

* * * * *

Illustration: "I TRUST YOU'LL EXCUSE ME MENTIONING IT, MY GOOD FELLOW,
BUT THAT IS THE RIGHT ENTRANCE--ON THE OPPOSITE SIDE OF THE ROAD."

* * * * *

More Impending Apologies.

"Cardinal Dubois, Archbishop of Rouen, has been translated, as most
of us expected, to the Archbishopric in Paris. Being a very
distinguished man of letters, the Academie Francaise would like to
include him among the Immorals, but, alas! they are 'full inside.'"

_Evening Paper._

* * * * *

HEADLINING.

The thrilling incident of the stray cat at "Chez Nous" is never likely
to get into the newspapers. On the other hand, lots of incidents which
do get in never deserve to. It's all a question of head-lining, which is
the bluff by which the public is induced to read matter it would
otherwise skip.

The affair began while I was in the City. I learnt afterwards that
Marjorie (my wife) was crooning to her needles the unmetrical jumper
lullaby, "Six purl, eight plain; then the same all over again." Anyhow
she was knitting, when she suddenly found herself looking into the
wistful eyes of a tortoiseshell cat which had appeared--merely appeared.

As she told me, she softly exclaimed, "A cat!" (right first time); then,
because it looked so wistful, she directed the maid to set before the
creature a saucer of milk. In fact--

HOMELESS BLACK-AND-TAN.
LUCKY CHANCE CALL.
TOOTING GOOD SAMARITAN.

When I arrived ho