Poverty Bay Herald. PUBLISHED EVERY EVENING. GISBORNE, FRIDAY. NOV. 27. 1925. BRITISH PROSPECTS.

Poverty Bay Herald, Volume LI, Issue 16895, 27 November 1925, Page 6

Poverty Bay Herald. PUBLISHED EVERY EVENING. GISBORNE, FRIDAY. NOV. 27. 1925. BRITISH PROSPECTS.

At present ih pro is fin evident I t-n>i• enor, both in Britain and abroad. to eowetil rale on tlio adverse far tors affecting the trade of the United Kingdo hi intlier Ih:ui 10 survey t ho position ;r,s it whole. in consequence, in tin 1 view of no loss ;m niiOierilv thiin tiir Monthly Review of Bn May's Punk, ono of’ tin’ ‘‘big five” British financial institutions, ‘‘the outlook is often regarded with an unjustifiable, degree of pessimism,” and it is oven suggested Hint Britain has lost her ability to compete in the world’s markets. Do nuudi that is doleful has been written reeently abonv the trade position of Britain that it is refreshing to discover some who are not purblind pessimists. Air. .John Gulsworrliv and Dir Philip Bibbs recently propounded in all earnestness the query ‘‘ls England Done?” and brought out many disquieting facts to point to such a. conclusion, but they have been ably answered by other ciitics, who prove that the recuperative power of flic Old Country is still very great and that there is no justilieation for alarmist views regarding the future of the nation. One of the best of these articles is by Scrutator in the Sunday Times. Scrutator says ”.of course I‘iii gift ltd is not done, the truth being that there are more happy and prosperous people in England since the war than ever before and that the children are bigger and healthier, and even the laborers take their ten day;-, holidays.” Not even the statisties of unemployment shut out the evidence of lie senses. Serntntor points out that in regard to the total of 1,400,000 unemployed, for comparison with the past you must allow for an increase in population, for a great decrease in emigration and for the entry of women in I o industrial and commercial lile. Moreover, it must be remembered that earlier statistics wore notoriously unreliable in their' uuder-stuiemonl of fact, mid the present unemployment ought to be reduced to a million or the earlier figure increased ;>0 per cent, to obtain a just comparison. The majority of the Poor Law Commission in 1909 stated that, a, million is the normal number of unemployed in times of depression. “ Are we, then, so much worse off?” he continues. ‘‘Or take the evil fence of the Trades 1 ninn st atistics'and you find the present percentage of 10.2 equalled in DSSfi. ft' was 9.d in 188fi, and was twice exceedni in 1858 am! 1,879, when it was 11.9 arid 11.1, respectively. In two other vents it reached S.l, the same as last year. If anyone prophesied lhe end of England in those days il has deservedly been forgotten. The truth is the elf eel of Die war on unemployment lias been vastly exaggerated. The depression was due and would have to come, war or no war. It is very true that unemployment is largely in ih,‘ staple trades which are in Die 'front ime in lighting international i-ompetnion, but the chief rivals, Germany and the United States, are in no position to undercut us.” This view also is taken by Barclay’s Bank* Review, which points out, that when, as frequently happens, unfavorable contract for Britain is made with the greater activity prevailing in some of the Continental countries, a. false impression is created unless the reasons for snesr*netivity are closely analysed and the drawbacks are considered, side by side with the apparent advantages. In most of the cases cited the trade of 'Die country concerned is being stimulated by inflation; bill activity of thru kind is obtained only at the expense of a wastage of capital resources, and sooner or later the evil effects of such a policy must recoil upon the heads oj those who have recourse to it. Dnonci or late, the bank holds, lhe purchasing newer of the world will be restored and currency and exchanges will lie stabilised. The National Foreign Trade Council of America, after a study of international trade figures, covering the period from 191" to the present time, lias stated if is convinced the world’s trade will be back to pat next year. In the meantime, British trade inevitably suffers with Dint of other countries. The real reason for surprise is that it has not suffered a great deal more. There seems, no sound ground for the assumption that Britain has lost its reputation for the quality of its products, or that, with the gradual return to normal conditions, throughout the world, and the consequent; increase in international trade, as a whole, British manufacturers will not obtain their proportionate shave in such increase. If the relative position of Britain on the list of importers into various countries is regarded as a criterion, evidence of progress is 1 o bo found. For instance, before tho war. Argentina purchased more goods from Britain than from any other country. During Dm war, that position of supremacy was lost; but returns for last year show that notwithstanding serious handicaos, Britain again heads.the list, and the United States, despite its geographical and other in! van tapes, has t alien to second place. The distribution in overseas I rude shows a envious slightness, in variation. British imports from foreign countries in 191-1 were <12.82 per cent, of the whole, whereas the proportion now is 01.55. The percentage lost in trade to Germany, inr example, is almost made good'with the Unit-oil States. “Scrutator” puts the position thus: “What nation enjovs as we do Die immense advantage of Dominions with vast spaces awaiting development? We are. in reference to our Dominions, much ill the same position as lhe United States when ihey wre just entering tho Middle West- We are not a little island, except geographically. In economics and polities wo are an island with an assortment of sub-continental hinterlands embarrassing in their variety and extent. And yet they talk of England being done. No, England is not done. She is only beginning.” An-

other optimist is Mr. Slrnchcy. editor of the Spectator “I am amazed, and, in a sense, perturbed,” lie writes, “because people seem to think that Dio condition of England is very bad, that onv national morale has been shaken and lhat we are in a bad and perilous Wav. I regret that such a mistaken view should be widely entertained because, in rn.v belief, it is entirely contrary to the facts. I have watched English public opinion, because it is my business to watch it, for the last, forty-five or fifty years, and I feel sure that our people wore never more in earnest than now in their dolorjubilation to make good. They see the difficulties before them without being in the least depressed •or terrified. They arc now thinking hard how lo got out of them and are laying their plans, not in any boastful spirit —they would Diink that a most unlucky thing to do because tlu- Englishman is always frightened bv anything that approaches boasting. Our high taxation, our unemployment, our perplexities, of many kinds, are not bending tlio nation in the very least. The reaction from rhose mfavorable conditions is all the other way. John Bull used to be accused of wanting to take tilings easy, ILe now sees that as an impossible aDittide. What lie is determined to do now is not to take any-, thing sitting down, but stand up and tight it out. To anyone who knows the facts and looks ‘closely, you sec this resolve to make good running throughout the country; in every class and in every Village and city, men are thinking of what, is their duly to the economic side of citizenship, how to light, waste, how to get, rid of the burdens of the war by making our shillings and pur sixpence do double the work they used to do. We may be suro that the determination to make good will prevail. What makes a nation prosperous and keeps ir so is not in its land resources or its natural wealth —I moan good soil or minerals or good climate or any oilier material or geographical conditions—tl-.e wealth of a nation consists in the energy of the people who inhabit if. As a matter of fact, the English hand worker, Silken as a whole, is doing as good work as lie has ever done. His methods may often be old-fashioned, or seem old-fashioned, but all the same he is si ill one of the best and one of Die most trustworthy workers in the world. Tt is true that his talk encourages the idem Dial he is refusing lo work hard, and that he is not willing lo be paid by results, and so on. But. in fact, his grumblings are not to be trusted. Our high taxation, though it is unpleasant, and means no luxuries for many people who used to indulge in luxuries, and hard work for many,,who used to live in idleness is not. going to break our backs or our spirits.. Instead, it is going to prove a stimulus.” Speaking then as to the prestige of Great Britain in European countries, and indeed throughout the world, Mr. Strnchey said he was sure he was not exaggerating when he said flint British prestige never stood higher. “The British Empire was never more trusted and looked upon with less suspicion, loss accused of selfishness and arrogance, than it is now. Several of our critics may still say that we have been too indulgent to our late enemies and our late allies, but at the same time most of them, 1 think, are wdlling to admit that our lofusal to look at matters from the point of..view of self-interest Iras raised us in. the estimation of the world. You will find very few. men of sincerity or knowledge who would now talk about ‘Perilde Albion.’ Again, our difficulties, whether in Asia or Africa, are not greater, but less than -they were. Tho condition of things ill India certainly shows improvement. Though there may bo anxiety and troubles in Mesopotamia and in Egypt, those who have studied these questions most closely are full of hope of a just and beneficent solution. As to our relations with the other free communities in Die Commonwealth of Nations which make up the Empire, it is happily not necessary'for me to say anything. ‘Freclom and union’ are the two principles upon which our Commonwealth of Nations has been huilt up. that remains our guiding star. It is in that sign that wo shall lend the World. ’ ’