NOTES AND COMMENTS

New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 10

NOTES AND COMMENTS

NAZI PSYCHOLOGY At a memorial service for murdered Storm Detachment comrades held in a church in a suburb of Berlin, the Nazi pastor found it necessary to revise (lie beatitudes. While emphasising (ho promise made "to those persecuted for righteousness sake," ho omitted altogether the reference to the peacemakers. After reading from the Bible the pastor said: "May you put all this into practice and may you hold the field." He preached on the text, Luke xii., 49: "I am como to send fire on the earth." The fire that, Christ desired to light destroying evil and purifying the good was, he said, to-be found in the Nazi. movement. Hitler was a lighter of fires after the heart of Christ. Sixty.party flags were brought.,into, the church and one was placed immediately beside the altar, though., the < church authorities had given leave to- hold, the service on condition that it was not to be a party demonstration. The relations of the Nazis to the Protestant Church will reach a decisive stage in November, since the Nazis are putting up candidates as "German Christians" for the elections to the Lutheran Church Assembly. They describe themselves as opposed to all the old Church parties and demand the suspension of all missions to the Jews until the Jews have been deprived of German j citizenship. AMERICA IN FAR EAST Dr. Harley F. Macnair, Professor of Far Eastern History and Institutious, Chicago University, and formerly 011 the staff of St. John's University, Shanghai, lectured at Burlington House to the Royal Central Asian Society on American Far Eastern Policy. Professor Macnair gave a historical survey, with a wealth of quotation and illustration to show that the traditional policy of the United States in the Far East has been that of a fair field for the nationals of all countries. America asked for most favoured nation treatment where it had been accorded to others, and for nothing else. While seeking no special rights for her own citizens, she claimed complete equality for them. She had persistently sought the progress and independence of the Far Eastern peoples. In the nineties there came a European policy toward China which one of her people had stigmatised as unashamed theft. By the annexation of the Philippines America did something to restore the balance in the Far East. Ordinarily her policy had coincided with the best interests of the Eastern States, with the possible exception of Korea, whose interests had to be sacrificed by conditions over which America had no control. In pursuing a policy of friendship, conciliation, and forbearance America had been confronted by many difficulties of application. There had to be recognition of the fact that territorial contiguity did give special relations between Powers. He did not claim lhat the traditional policy was based on any superior morality of the American people. The application of ideal solutions of international problems was not. easy in a, naughty world; there were occasions, for instance, when it would require the application of force. It was too early to treat historically (he details of American policy in the last year or two in relation to Manchuria.; but he could say that (here had been no basic change of policy in the last 12 months. OFF THE COLD STANDARD Reviewing the first year of the abandonment of the gold standard the Financial Times says:—"Nothing stands out more strikingly than the way in which British credit has been not only maintained, but enhanced, although chronologically the war loan conversion, which crowns the achievement, would como a long way down the list. That operation was facilitated by the monetary ease, which is a recognised accompaniment of inactive trade, and which is more accurately represented by the current two per cent bank rate than by the six percent which was maintained defensively until February 18. None the less, even such conditions would have failed to influence holders of £1,885,000,000 out of £2,085,000,000 of stock to convert from a five per cent to a three and a-half per cent level if they had not had implicit confidence in the status of the Government as a borrower. The new rate compares very favourably with the four a.nd a-half per cent which the Government of France—gold standard country—'has just been constrained to offer in respect of an operation of one-third the size. The downward adjustment of Government interest rates has opened the way to a progressive reduction in charges to industrial borrowers, which in turn will increaso the country's competive power in the markets of the world. The process will be facilitated by the promised maintenance of an amplo supply of credit. Assistance given to our trade by the depreciation of the pound has been largely obscured by the continuous contraction of world trade. An upward turn of commodity prices in tho last few months holds the promise of better things in store, owing to tho addition fo the purchasing power of primary producers which should result if it persists. The depreciation of sterling makes British goods cheap abroad, but it also makes foreign goods dear for 11s to buy, so long as the other countries concerned are 011 the gold standard. That is a point which will require .careful consideration when the time comes to determine at what level the pound shall be re-estab-lished."