Grey River Argus and blackball news WEDNESDAY, December 18, 1922. EUROPEAN SITUATION

Grey River Argus, 18 January 1922, Page 4

Grey River Argus and blackball news

WEDNESDAY, December 18, 1922. EUROPEAN SITUATION

Delivered every mo. rung in G .it a. Hokitika, Dobson. Wallsend, Tayl .. ,ii«.e, Cr< —-uiin, Ngahere. Blackball. Nelson Creek, Brunner, Te R1U&112 Kvioinanu, Poerua, InchbonrHe, Pataca, Rmn, Kai ma la. Kotuku. Mc.ina, Aratika, Bunanga. Dunollie, Cobden, Baxters, Kokin, Ahau.ia. Ikamatua, Stulwater. Watuta. Reefton, Ross, Ruaiapna. Manana!, Hari Han. Waiho Gorge, Wehcka, Rewanui, OUra. Inangahua Junction, Westport. Waimangaroa. Denniston, Granity, Millerton. Ngakavvau. Hectofe Seddouville. Cape Foul wind. and Karam?*

Plainly the divergence in policy between Britain and France arises from two things, the old spirit of capitalist rivalry, and the fact that Europe is bankrupt. There is a scramble for money and markets. Indeed, the world as a whole is hungry to-day. Russia has over 20,000,000 in -want, while America has 6,000,000 and Britain 3,000,000 in almost a similar plight. Four hundred million Europeans arc, indeed, politically, economically and industrially in a bad plight, and this effect of the war has thrown Western Europe and America, and in a lesser degree every other country, into a state of unemployment that threatens to bring starvation near to the whole human race. The war, destroying millions of lives and billions of wealth, has reduced the people’s purchasing power, and a general paralysis is promoted when consumption is universally prevented. Hunger is driving Britain this way, France that, America another, and Japan and Germany likewise in different directions. Although Mr Lloyd George talks of a sort of international federation, nominally for peace, but really for trade, its basis would be capitalistic, whereas the obvious truth is the utter failure and danger of capitalism, and the need of a new and better economic system that will at least feed the world. Talk about cancelling war and other national debt is no remedy. Europe, including Great Britain, owes the United States Government something like 10,000,000,000 dollars, of which Great Britain owes a little over 4,000,000,000 dollars—approximately £1,000,000,000, at the current rate of exchange. Both Britain and America want some even if they must cut losses, because both want to be able to sell, hence Britain’s obvious move against France for a trade entente with Germany. Britain’s debts are again increasing, and she is highly taxed; America is heavily taxed and her trade is stagnating; France has huge debts to liquidate; and Germany, selling cheaply, is busy capturing again a large part of the world’s market. The whole •world is economically inter-de-pendent, but the most capitalistic countries are now among the worst off. It is a fact, too, that British and other

capitalists are actually patronising German industry to increase profits, while they leave millions unemployed in their own lands, simply because German workmen arc tied down to low wages. With the fall of the German mark the big English and American shipping firms rushed all their repair work to Hamburg. Mr Phillips Price, the special correspondent of the London “Daily Herald,” writing from Hamburg on November 1, told how the P. and 0., the Canadian Pacific, and the Royal Mail Steamship Co., had all got liners undergoing repairs and refitting at Hamburg. Most of them were being fitted with oil burning engines. The result is that Hamburg is now bustling with business. That’s capitalist imperialism, which made the war—and the peace also. That’s 100 per cent, patriotism! We don’t know how many millions New Zealand has paid in interest on war debts, say fifty; but Australia has paid about £200,000 since 1914 in interest alone. The world cannot stand the racket of capitalism with its profits, and unemployment, and starvation. If the hung er spreads much further, it will force a change, one which, if it make all work, will also ensure at least that all shall bo fed. Caring nought for suffering humanity, but seeking only cheaper production, better markets, and bigger profits, capitalist internationalism must be replaced by a human brotherhood that will emancipate humanity from the dead hand of economic necessity. This must eventually be the issue from the struggle now going on between individualism and co-operation, or, in other words, capitalism and socialism.