Grey River Argus MONDAY, November 9th, 1931. THE BRITISH CABINET.

Grey River Argus, 9 November 1931, Page 4

Grey River Argus MONDAY, November 9th, 1931. THE BRITISH CABINET.

It was only Io have been expected that the new British Ministry should be lauded as a selection by the press which welcomed the Coalition, and which indeed would welcome anything provided that, it was aware that it had the sanction of the banking interests. It might be said that the significance of the appointments made will not at once show itself,

but what is equally likely is that some of them may prove . only temporary. Although politicians still nominally of another colour have a larger proportion of portfolios than their strength in the Coalition would justify, the Conservatives retain the majority, and are thus in the position to give the others a try out, with an eye to finding out the degree in which they will individually 7 ac-

cept the policy of the predominant party. The choice of a most pronounced tariffite for the Treasury has a significance which is not qualified to any great degree by the appointment of a hitherto diehard free-trader to the Board of Trade, because the later is a banker, and both will doubtless do as they are bid by’ the financial dictators.' The Conservative Leader has a sinecure which leaves him free to play the part of leader lif it is deemed necessary. The indications are that, while a tariff is to be expected, its introduction will not be hurried, since the constitution of this Parliament gives the majority ample time in which to formulate one. The Dominions have to be allowed for, and it car. ibe taken for granted that they will study’ their particular’ interests first, just as the Old Country is going to do. The two National

Liberal leaders, Sir 11. Samuel and Sir J. Simon, have been given prominent posts, but the greater significance attaches to that of the latter as Foreign Minister. It is emphasised that he is a clever lawyer, and presumably' therefore a shrewd diplomat, but his choice doubtless reflects the fact that he was the first rebel against Mr Lloyd George, and. as a pronounced opponent of the working class, he is probably persona' grata to the plutocratic element. Mr J. H. Thomas remains Dominions Secretary, and will perhaps prove a more agile political acrobat than ever when he eomes to reverse the attitude which he adopted at the last Imperial Conference on the tariff issue. If his success however, is no greater than it was as Minister for Unemployment, he may have to be content with a Peerage. The first task of the Ministry is of course to stop the financial rot and save the pound from following in the wake of the German mark. The Ministers are all possessed of some previous experience in. office, and should be aware of the speediest and aptest manner in which to translate into fiscal or administrative effect the prescriptions of those interests in whose everyday’ activiites the control of sterling really' rests. As a shipowner and banker with no brief for protection, Mr Runciinau may be expected to pick any holes there may be to find in duties of a merely experimental character. There does not, however, appear to be any Minister particularly interested in the reform whereof Britain stands probably most in need. This is a restoration of her primary’ production, a fact of which those prophets of a rigid tariff reciprocity' system within the Empire will require to take note. However, the fall in the value of sterling is considered to have increased the likelihood of some measure of fiscal protection, since it has lessened the likelihood of any very considerable revenue being derived from a non protective tariff, the price of imports having already been augmented. If, however, there should be an improvement in sterling—to obtain which wages maybe lowered if exports do n'ot ( otherwise grow —the question of protection will become more prominent, as being’ incidental to the strengthening of Britain’s hold on Dominion markets. When the time for a reshuffle of portfolios may' be judged imminent by' the predominant party in the Coalition, Mr Winston Churchill may be given the hint to “start something.” His has been a verigated political creed, and latterly' protection has been a strong card'of his. The Prime Minister will find his post different from what it has heretofore been, but he evidently' knows how to adapt himself to circumstances in a manner that should ensure his retention of the leadership as Jong as he may' desire it. He is obviously a very clever politician, and looks well ahead. The lesson of the whole situation is that Parliament is b.y no means so important a factor in national control as superficially’ it would appear. For that reason the Cabinet’s constitution is not so very important as is made out. The public is unaware of what is going on behind the scenes. They' know that the immediate job in Britain is to prevent a collapse in the value of money, ■which has been accumulating at an increasing rate this century, and the real or national wealth which it represents has not kept pace with it. The cost of debt service is Britain’s greatest burden. How that is to be lessened is an all important question, It remains to be seen what steps are taken in the direction of loan conversion. There must be some measure of repudiation. The Tories made the debt deal with America, and it is up to them to undo it now. Britain cannot go on finding a thousand millions a year to bafanee her budget. So far the only real reduction of that burden has been

entirely at the expense of the poor and of the lower-paid servants of the. State. It will be therefore of primary' interest to see how this Ministry goes about making somethink like a more equal distribution of sacrifice. Until sterling grows stronger, it will be almost impossible to relieve the direct taxpayer with a revenue tariff. In all probability, one of the first developments will be a reaction among the public against the Government, because the vested interests expect that it will use the State primarily on their behalf, whereas its promise has been to bring better times for ail classes. Those promises may soon fail under the acid test of experience.