ICELAND: Shamefaced Bankers

The oldest Parliament in the world sat up all one night last week—that is from 7 p.m. until 5 a.m., for at this time of year two-thirds of the 24 hours is night in Iceland.

On the carpet were called the Island Kingdom's foremost capitalists, the Directors of the Bank of Iceland. They did not come shivering, for the kindly Gulf Stream makes Reykjavik winters temperate. In fact "Iceland" is a complete misnomer for a land abounding in volcanoes and hot springs (many a farmer warms his...