"I SPY!"

Both (together): "Peep-bo! I see you!"

THE NEW JOHN BULL

After the proposed "Federalization" of the British Isles.

The proposed "federalization" of the British Isles is burlesqued in the figure of John Bull, looking very much ashamed of himself, arrayed in top-boots, with a kilt, a shamrock-sprigged waistcoat, a Welsh steeple-crowned hat, and a shillelagh. The "People's Budget" is disparaged in a picture showing the general apathy of those whom it was intended to benefit. And as for the threatened creation of 500 Liberal Peers to outvote the recalcitrant "backwoodsmen," Punch satirized the plan as a mere piece of window-dressing. In "The Chance of a Lifetime" Mr. Asquith is seen arraying his shop-front with 500 coronets "dirt cheap," Mr. Lloyd George as his assistant handing up the hat-boxes with the comment, "Bound to go like hot cakes."

Death of King Edward

Perhaps the shrewdest comment on international politics made by Punch in this year is to be found in his "Charivaria" column for November 9:—