The Dominion WEDNESDAY, AUGUST 26, 1931. BRITISH EMERGENCY GOVERNMENT

Dominion, Volume 24, Issue 283, 26 August 1931, Page 8

The Dominion WEDNESDAY, AUGUST 26, 1931. BRITISH EMERGENCY GOVERNMENT

While the dramatic march of events in the British political crisis was bound to excite popular interest, its satisfactory end has a far wider significance than the party manoeuvres that went before, Ihe restoration of political stability is chiefly important in restoring confidence in British credit at Home and abroad. This effect wtl be reinforced because a National Government is being formed tor /" one purpose, to take whatever steps are deemed necessary to maintain that confidence. One London message sums up the determining motive behind the rapid developments in the statement that “the commercial we - being, not only of the British nation, but of a large part of the civilised world, is built up and rests on well-founded confidence in sterling.” The foundation had been shaken, principally by the unsoundness of the British Budget and. the known difficulty ofl persuading the Labour-Socialists to face the issue of restoring the integrity of national finance. Most of the Socialists failed in that acid test and all honour is due to the Prime Minister and those of his followers who, with a proper sense of responsibility, put duty Initial acknowledgment for the happy turn of events should, however, be made to the King who, as in previous precarious situations, has shown a fine talent for mediation. Once again Britain has proved the practical utility of the Royal office, for his Majesty, from his special position above party or factional interest, can exert an influence that is as decisive as it is helpful. His guiding hand appears to -have smoothed a way through the many difficulties to •reaching a workable arrangement and also to have impressed on the political principals the need to act quickly. ' > , -. ... In the upshot events seem to be moving with unparalleled celerity toward the supersession of the defaulting Government.- The rapidity with which a new Administration is being framed is a measure of. the financial necessity but it. is also reassuring evidence that, the springs of political action in John Bull have not failed. He is an adept at cqmpromise and improvisation' as the special form of the new Government exemplifies. As the Conservative leader has emphasised and re-emphasised, it is not a coalition or a fusion, but a Government co-operating for the single purpose, of dealing, with the national ' emergency. Mr. Baldwin says plainly: “There is no question of a permanent coalition. No party is: called on to sacrifice any of its principles, but it is everyone’s duty to eschew party differences.’ ' •By his action in this crisis, Mr. MacDonald has achieved true greatness. He has accepted the responsibility placed upon him and, when the majority of his party refused to follow him, has still trod the path of duty. There can be no doubt that he, Mr. Snowden, , Mr. Thomas and others of the Labour remnant have made heavy . political sacrifices but they have emerged from a sore.trial as statesmen.- Nor should the honourable part played by the Conservative and Liberal leaders be overlooked. They have been called in to do the unpopular job from which the fair-weather Socialists ran away. Although they must, accept the odium at the pending general election, they have placed the national interest above expediency and, perhaps, if the British electorate still retains its love for sportsmanship, may reap an unexpected reward. Among so many splendid features, it is distasteful to remark the craven conduct of the majority of the Socialists led by that astute party man, Mr. Arthur Henderson. They have failed under fire and deserted in the midst of the battle for financial stability. Their thought has not been for the nation but for their own political skins. They profess to stand, for a class but take a. line of policy that would bring irretrievable ruin on those for whose interest they- plead concern. It may be hoped that in the coming elections the British political sense will judge them surely for the false friends and opportunists they have 'shown themselves. It is well that men of such kidney have excluded themselves from an Administration that has a stern but salutary task to perform. For there can be no doubt, that, having set its hand to the .plough, the National Government will not look back until it can leave a well-tilled field.