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Evening Post, Volume CXXVII, Issue 40, 17 February 1939, Page 8

upon

the interest would add Is 3d to the standard rate of income tax for ever. The redemption -of loans of such astronomical dimensions is out of the

question,

He thus illustrates in a startling way the problem of the British taxpayer and the British public over national security; and, without a satisfactory solution of the national security problem, New Zealand's worries over the future of social security seem to be heavily discounted, if not beside the mark. Yet the British public and Press show splendid courage. The "Daily Mail," watching the armaments barometer, sees the needle of expenditure moving steadily from danger to security, just as Mr. Glasgdw, watching the economicfinancial barometer, sees the needle moving steadily from security to danger. The "Daily Telegraph" is candid. It says that the cost is staggering, but the country will "bear whatever burden" is needed for "national security" and will carry on. Better to stagger on than to be

walked over. And tKe British" taxpayer knows that he has no shield save himself.

Is war inevitable? Mr. Chamberlain says No. Is this terrific defence burden inevitable? Mr. Chamberlain says Yes-—unless there is some eleventh-hour limitation of armaments. What is stated On that point in today's cablegrams should be bracketed with what Mr. Chamberlain said in the House of Commons on March 14 of last year:

- His Majesty's Government do not differ from those who feel that the increase of armaments alone is no sure guarantee of peace. They earnestly hope that it may yet be possible to arrive at a reasonable balance of armaments by agreement rather than by free and unlimited competition.

On that hope rests 95 per cent, of the other hope'that war is not inevitable; for, if arming goes On at the present pace, how will the world avoid both war and bankruptcy? Yet along with the British, United States, and Japanese armament Budgets are published such statements as "Germany, Italy, France, and Russia are armed as no country in history was ever armed before." Meanwhile, Germany speaks of again widening the Kiel Canal—the widening of which was one of the.European great events preceding the Great War—and Sir lan Hamilton,' feels that the atmosphere is growing more like 1914

every day.