The Editor's Saturday Night

Northern Advocate, 29 July 1939, Page 6

The Editor's Saturday Night

t The reader of history 50 years hence f will realise, as probably the majority lof people today do not realise, that j events of transcendent importance | have taken place during this week, f The international situation has undergone important changes the real effect •of which cannot yet be seen in their j proper perspective.

News regarding happenings in Europe, the Par East and America, has been of a contradictory nature, but, making full allowance for exaggerations and attempts to hide facts, there is no doubt that the events of the week have been of a nature to coN our the future of the nations.

The opening days of the week brought news which seemed to humiliate the British Empire. It was reported that Britain, in the face of Japanese pressure, had agreed to recognise Japan’s overlordship in China. I

1 This was interpreted by the Chin- ! ese people as a betrayal of the obli- ; gations into which Britain had entered ;as a signatory to the Nine-Power i Pact. The Government, on its part, ! has declared that Britain’s policy in ; China has not been 'altered in any 1 way whatsoever. Just how this claim ! can be justified is not quite clear, but it may be safely assumed that Britain’s apparent retreat at Tokio was made for tactical purposes. However that may be, the development has brought about a dramatic change in the attitude of America towards the Far Eastern problem. The United States Government has astonished Japan by giving six .months’ notice of the abrogation of the friendship and trade treaty existing between the two countries. If this abrogation were put into effect, it would mean pi’actically the alignment of the United States against Japan in the event of war extension. The American “shot across Japan’s bows” may have a salutary effect, both in the Far East and in Europe, where it is no exaggeration to say Germany and Italy have hoped that Britain would be provoked by Japan to engage in a large-scale war. Britain’s retreat has for the time being obviated an AngloJapanese war.

The big news of the week, so far as New Zealand is concerned, has been Mr Nash’s announcement that £16,000,000 of the £17,000,000 loan maturing in January next has been arranged for. Applications have been invited for the sum mentioned, and as Britain is guaranteeing the issue there can be little doubt las to its success. The terms upoft which the money is being obtained has been subjected to considerable criticism. New Zealand has undertaken to repay the £16,000,000 within five years. Can she do it? The future will show whether the Government or its critics have espoused the better policy.