BRITAIN AND EUROPE.

Auckland Star, Volume LXVI, Issue 130, 4 June 1935, Page 6

BRITAIN AND EUROPE.

"If Britain would keep clear of international intrigues and international alliances, she need fear attack from nobody," says Mr. F. W. Doidge, and then he adds, "Equally clearly it is our duty to build up defence forces so strong that no nation will dare molest us." If wo mind our own business, then we don't'.need any "defence forces, apparently. Yet in case somebody does take a fancy to some of our interests, we had better have a defence force. Now just what does . Jie mean? One hundred and twelve millions is a lot of money to spend every year just in case. Britain has interests all over the- world and needs to keep them, or else she will go under. Why is she interested in German affairs? Because she lent Germany a fair bit of cash after the war and hasn't got it back yet. Why does she worry over Austria, Rumania, GretJce, Poland, Spain, Portugal, Finland Denmark, Yugoslavia, Czecho-Slovakia and Lithuania? Same reason. She's a mortgagee in a big way. They've all been hard liposome time, and gone to London for a loan, just like us. But that's only half of. the yarn. France,' America, Holland and Switzerland also lent the hard-up nations a fair bit from time to time. The problem of the moneylenders is who is to have first call' on the revenue of these countries. Nearly all of them lent on Government securities, and now the taxation to meet these loans is not so good as it used to be. Can you blame Britain {or trying to get some of her money back? Themortgagee of this country has a court to fall back upon if the-mortgagor does not play the game; there is, as yet, no international court to appeal to if a debtor nation defaults— hence the international alliances and inter-, national intrigues, the scramble for the cake that is growing smaller every day. Disarmament, Dawes Plan, Young Plan, treaties, pacts, limitations, balance of power, League of Nations —Hooey! It's money struggle. Britain has more money invested in Spain, than Australia. The ore that went to make the steel of Queen Street buildings came as interest from past loans to Spain. There is, £480,000,000 of British money in the Argentine alone, and the Dominions are demanding preferential treatment. Britain lives on interest, and she must protect it either by force or intrigue. There is no'other way at present. Yes, and if Mr. Doidge would like to know where my information is from—it's none other than his friend, Mr. G. Ward Price. J. WEIR STEWART.