An Anglo-American Calm

NZ Truth, Issue 1044, 28 November 1925, Page 17

An Anglo-American Calm

If ift is m order for Sir Harold Beauchani p to refer to the big majority gaing d by Reform over Labor, and to the <i 2onomic stability calculated to result ; therefrom; then he might with at leasjt equal justice go farther, and dwc^JL upon the fact that m four countries i — Britain, the United States, and AusUralia, as well as New Zealand — political parties usually associated wit] i conservatism m finance have gairicd the ascendancy m the respective > /About a year ago the British Conservatives swept the country, fand the Republicans won the White House, which meant a victory for Stability (with a capital .' ■( S) on each side of the Atlantic. >' i Fruits ther'eof are two steps towards Europe's economic recovery — (1) the [Adoption of the Dawes Plan, and (2)

Britain's return, with the aid of New York, to the gold standard. And it is not too much to claim that the hope of political compromise attaching to the Locarno Pact is due to the existence of strong co-operating Governments m London and Washington. As the American President is m for four years, and the British Government (as far as can be humanly foreseen) for a not less period, these two administrations will still be vital when the two new Parliaments m Australia and New Zealand are nearing their death by effluxion of time. So anybody who takes Sir Harold Beauchamp's view of -the close connection of politics and fi.iance cannot expect anything else than -a solid triennium of economic progress undisturbed by political bombshells.