THE ROUND TABLE

Evening Post, Volume CXVII, Issue 17, 20 January 1934, Page 20

THE ROUND TABLE

The first article in the December number of "The Round "Table" deals with "The Future of the League," and is constructive" as well as speculative. "The present crisis," it is affirmed, "is mainly caused by the impending termination of the French security system through the belated concession in principle of 'equality' to Germany in the declaration of December, 1932. In all probability the old French system will be followed by- a new security system within Europe itself, based not on the preponderance of one group, but on a balance between two groups, France being the centre of one and Germany of the other. The process of substituting this balance for the old preponderance will be "a difficult>|ind a dangerous one, but if it can be successfully effected there is no reason why it should not eventually bo r brought, as a regional system, within the League."

The second article is from an American correspondent and is entitled "Roosevelt's iioad to Recovery." Those who have been puzzled by the policy that has resulted in the depreciation of the dollar far below sterling parity— and there are very few of us to whom that doea not apply —-will learn much from this article about the problems the President has to face, and the objects he is pursuing. The article ends with what the. writer calls "a few guesses" about the future of the American economy.

"Japan's Bid for World Trade," which is the third article) is obviously written by,one personally familiar with public opinion and: economic conditions in that country. After analysing the reasons for Japanese commercial success, he sets the problem against the wide background of Japan's aggressive nationalism and her future in world society. The recent-unofficial conference at Toronto is described under the title ■"British Commonwealth Relations," but the article is more, than a description, for it elucidates the underlying assumptions of the. Toronto discussions and opens the way for a new consideration, Of the future of the Commonwealth. Central banking and the exchange rate are the main subjects dealt with in the New Zealand section of the journal. Unemployment, London interest on Ideal loans, and defence are also considered. "The time has come," the writers of the article maintain, "to reconsider the question of compulsory service, if not on its former scale, at least, on a scale to meet a definite plan. At present we have no plan."