By BAGEHOT
OWEN SMITH was never the front-runner in Labour’s leadership contest. But moderates in the party hoped that he would at least begin the process of clipping away at the mighty mandate, 59% of vote, that accrued to Jeremy Corbyn last year. Perhaps this could be shaved to nearer 50%. And perhaps, in one of the three voter categories—full members, registered supporters and affiliates (mostly union members)—he could even be beaten.