WORLD CITIZENSHIP

Taranaki Daily News, 20 February 1933, Page 5

WORLD CITIZENSHIP

PROBLEMS OF TO-DAY. REVIEW OF ASSETS URGED. A plea for the realisation by the people of all nations that they are also citizens of the world was made by Mr. J. L. Tattersail, of Manchester, a director of the Lancashire Cotton Corporation, Limited, in an address at the luncheon of the Auckland Rotary Club. He stated that a realisation' of world citizenship would herald the passing of the world’s difficulties, for it would bring in its train movements that would result in closer co-operation for the good of the citizens of every country. In his lifetime he had seen many changes, said Mr. Tattersail. He remembered the primitive telephone and had watched the development of great inventions. Inventions, how’ever, did not belong only to the Empire. They belonged to the world. Art, literature and the drama were not confined to England or the Empire. They were the output of world citizens and produced for the use of men of all nations. Communication, transport and trade were not confined to any one country, but were world activities. The ships that carried New Zealand produce spanned the world. All these things brought people nearer to each other and helped to break down the barriers of insularity. At present the world was faced with many problems which could be solved only by getting away from the narrow groove and putting aside insular prejudices. War debts and reparations awaited settlement. Tariff walls had been built up and countries had gone bankrupt. Credits in London were largely frozen. Credit, on which all the trade of the world was built, was restricted the world over. This was one of the causes of low prices. What was wanted was an effort to introduce more confidence. Mr. Tattersall said he had great respect for bankers, but his experience was that in the commercial world bankers were not so clever as business men. Two years ago 75 per cent, of th« cotton trade of Lancashire was practically in the hands of bankers. He thought the time had come when every banker, loan corporation and business man should take stock of his assets so that bad ones could be written off and good ones increased where warranted. In the Lancashire cotton industry assets of £45,000,000 had been written down to £15,000,000. Until the Governments and the bankers of the world pooled their resources as a background for coins and paper the world would always have its present troubles. Until there were stabilised exchanges there would be variations of trade, and they would be at the mercy of any country which overspent or acted foolishly. As a solution of the world s problems Mr. Tattersall advocated a stock taking and writing off, a cessation of extravagances, satisfaction with smaller incomes, lower world tariffs and a central bank in every counti'y linked to an international centra.