The Grey River Argus WEDNESDAY, December 18, 1940. WINNING PEACE.

Grey River Argus, 18 December 1940, Page 4

The Grey River Argus WEDNESDAY, December 18, 1940. WINNING PEACE.

Though it has been - welcomed by no belligerent, the suggestion of a Christmas truce at least raises the question of the utility or otherwise of indicating the sort of ultimate settlement desired. For instance, the unrest and even disaffection now reported in Italy might be turned to good account were Britain to assure those Italians anxious for peace as to the terms Avhich they could expect by breaking away from Germany. It is to be expected, no doubt, that the Fascist Party will strenuously resist any disposition to do that, but were those entertaining the idea able to quote a guarantee of considerate terms, they would be strengthened in an endeavour to alter radically the policy of their country. Indeed, the cause of Britain ■ might be advantaged in maiiv quarters, some, qjvitc unexpected, were the real object for which Britain entered the war defined more in detail as.soon as it possibly can be. That object is not to despoil any people, whereas the enemy and his backers are known to be out for additions of territory, among their other objects. There may be I obstacles in the way of a definition, and the least that could be expected is that at least these 'might be indicated. If they arise from the desires of groat vested interests, then the objection to a. definition could perhaps be removed.. In any case, there is a significant point to be noted in connection with the direct appeal Britain has now made for American financial support. It is said that President .'Roosevelt inclines to impose no stipulation as to security for advances to a very large amount, preferring either to obtain as a quid pro quo the gift of British territory for defence bases, or else to make the war material supplied a virtual gift. In short, he is not for a further venture into the realms of war debt and credit. Now Britain has taxed in an unprecedented degree already for the ..ar, and resources for more taxes are beginning to run dry. It is wed known that the enemy aim is that uf bankrupting Britain, and in this the enemy can succeed only in one eventuality. It is not, of course,, that Britain can

be defeated in the war, but she can be undoubtedly defeated in Hie peace that will in some shape or form follow the war. Then if bank finance is to play again the part it did in the last war, there may quite conceivably be national bankruptcy. This issue may have even be icanvassed yesterday at the Labour Party’s Caucus when the Governor of our Reserve Bank gave his estimate of our situation. This country is not heading for bankruptcy simply because it has been using the public credit in a manner largely free from the incubus of interest, owing to the measure of national control over national credit which has been obtained in the Dominion. This consideration of finance is a reminder that the British peace terms could be made to exclude a demand for indemnities calculated again to bankrupt nations, and to give ■cosmopolitan capitalists the scope for a. renewal of lending on a scale that would place again the halter of debt round the necks of peoples en masse. Then there is the matter of a better social order, which can best bej’aced by commencing without delay to usher in the foundation, instead of waiting until the last moment when complications might prevent anything worth while being inaugurated on a wide scale. If the dictatorial a,nd totalitarian methods incidental to Avar time were adapted meantime for distributive and commutative justice, and if the urbanisation which bombing alone has proved a disaster were largely to be destined for the scrap heap, the removal at the same time of many iniquities of modern industrialism might become an additional inducement towards an earlier and better peace settlement. It is not only aggression of a military nature which provoked this Avar. Capitalistic competition has had its influence, and unless it be rigidly restricted in future the danger will recur. Thus there are numerous lines on Avhich an approach to a better order in a peace settlement might now be explored, and the good faith of those responsible must, operate to promote all that is good in the cause Avhich they have at heart.