NOTES AND COMMENTS.

New Zealand Herald, Volume LXVI, Issue 20255, 15 May 1929, Page 12

NOTES AND COMMENTS.

NEW THEORIES IN SCIENCE.

"Modern physicists find their powers of appreciation immensely extended. They can observe and measure particles as much smaller than a grain of sand as a grain of sand is smaller than a big building ; speeds as much faster than a rifle bullet as a rifle bullet is faster than a snail; temperatures ranging from absolute cold to the heat of the hottest stars, where the very atoms are stripped of their electrons and packed with almost inconceivable density," said Sir William Bragg, president of tho British Association, in a speech reported in Yorkshire. "New theories are only men's attempts to tell you what they have seen and no theory is big enough to cover all the facts. A theory is like a blanket too small for a, bed—whichever way you pull it it leaves a part uncovered. As time goes on you drop one theory and pick up another as easily as you can drop one tool and pick up another in tho workshop. You must not say science is always stultifying itself, because it drops one theory and picks up another, any more than you condemn a carpenter for dropping a saw and picking up a chisel." HUMAN PROGRESS. "Opportunities await mankind in every department of human endeavour, opportunities not simply to become rich or famous, but to make the world a better place for succeeding generations to live in and to make these generations fitter in body, mind and spirit to dwell there," says Dr. Henry T. Hodgkin, a famous medical missionary, in his latest book. After briefly outlining the prospects of progress in science, industry, politics, philosophy and human relations, he says: —"Everywhere doors open toward the future. It is an age when we catch glimpses of that which lies ahead. It is no exaggeration to say that it is more possible to-day than ever before in history for the man in the street to see and believe in progress as a possibility in almost every department of life. Whether such progress will be achieved or not depends upon the personalities by whose hands the future will be shaped. The earth, we are told, after perhaps one to five thousand million years of existence, is still young. Our puny lives, our trivial experiences, our stumbling steps, what are they in so vast a setting? They are as nothing unless we see in them the beginning of something very far beyond our present ken. We cannot bo the men our age demands unless we ourselves are engaged in the quest." BRITISH WAR DEBT. A statement that the London money market would this year have to deal with the conversion of £2,000,000,000 of Imperial war loan was made by Sir Joseph Ward as one of the reasons for the early issue of the New Zealand loan. Reference has recently been made in Wellington to "this huge obligation. . . . lying across tho money market like a shadow." As was fully explained by the Herald two months ago, this debt does not fall due for repayment this year; the obligation to deal with it arises 13 years hence. Recently tho city editor of the Times wrote:—"The great problem of State finance is still unsettled—namely, to reduce the heavy annual charge for interest on tho debt, which accounts for nearly half tho total ordinary expenditure. Any reduction in tho amounts applied to debt redemption must tend to postpone tho day when 5 per cent, war loans can be replaced by 4 per cent, loans. This year offers tho first opportunity of dealing with the £2,000,000.000 5 per cent, war loan, but it is clear that conditions are not now favourable to any successful refunding operation. Ihe referonce is to the third great war loan, issued in January, 1917, of which there are £2,172,273,000 of 5 per cent, stock and £80,334,000 of 4 per cent, stock, the latter being free of income tax. On or after June 1 and October 15 of this yoar tho Government has the right to redeem these loans at par, on giving three months' notice, but the holders cannot claim repayment until tho corresponding dates in 1942.