Any lawful enterprise prepared to pay Lloyd's of London the right price can insure itself against almost any emergency. But lately Lloyd's rate on libel insurance has jumped prohibitively skyhigh. For shrewd, dumpy Lord Chief Justice, Baron Hewart, has applied England's oppressive libel laws so sternly that rare has been the libel which could be successfully defended.
Night and Day, a London imitation of The New Yorker, was published from last July to January, then folded up. Its best piece of fortune was that it had libel insurance when dimpled, kink-curly Shirley Temple...
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