DEFYING SPOILER

Opotiki News, Volume III, Issue 315, 25 September 1940, Page 3

DEFYING SPOILER

' BRITISH RESOURCES LOSSES AT SEA WRECK OF BUILDINGS SURVEY BY. ECONOMIST * (News by Cable.) LONDON, Sept. 23. The economist, Mr. J. M. Keynes, ; broadcasting, said it was easy to exaggerate the. damage to the national resources which Britain so far had suffered. “We have lost 1,600,009 tons ot shipping, but this loss in one year is no greater than our normal yearly capacity to build ships,” he continued. “In .losses of property by bombs the case is no worse. The total damage before the end of July could be made up in a couple of days by tho country’s building capacity. The damage in August was much more considerable, but could be made up within a month. “The heavy destruction in London during the past three weeks has not yet been accurately estimated, but London isi a big place. There can be a mighty power of destruction before the building properties of Britain are seriously touched. Up to £1,000,000 worth of destruction is a frightful sight, but if we suffered such damage nightly for a year we should not lose more than 4 per cent, of our buildings and contents or more than could be restored in a couple of years 1 .”