The Timaru Herald. SATURDAY, NOVEMBER 22, 1924. THE ECONOMIC BATTLEGROUND.

Timaru Herald, Volume XCVIII, Issue 18084, 22 November 1924, Page 8

The Timaru Herald. SATURDAY, NOVEMBER 22, 1924. THE ECONOMIC BATTLEGROUND.

Political and economic developments m Europe make it increasingly necessary for the British Empire to “take l counsel together.” Tlie. average patriotic new Zealander appreciates the vital importance oi trading- with Britain. Moreover, the producers realise that it is to the Unileo Kingdom they must look for their safest markets. But there must he trade reciprocity between the Old Land and the British communities in the outposts of the far-flung Empire, otherwise Britain cannot maintain a high standard of pin chasing to enable her people to absorb the products of file overseas dominions. , The British communities overseas should do their utmost to maintain Britain’s buying* by purchasing all their requirements from her. The gravest menace to me world- to-day is Germany s deeply laid plans to gain that victory in the economic arena, she failed to win on the battlefield. Early in September Heir Maximilian Harden, the famous German journalist insisted that France' and Germany should at once realise the economic need for their joint effort against what, lie is pleased to regard as the “gigantic trusts of Anglo-Saxon countries.” If France accepts his invitation, he claims that, the future will be theirs—the future peace. Herr Harden is quoted further as- saying: “A durable peace is not founded on pure reason. Our world is too materialistic. Finance and industi., are th© only powers of the hour. Have wo not., seen the official and pompous entry into the Conference of London made by the international bankers .... The cardinal error up to now has been the attempt to adjust economic necessities to treaties. We have learned that the most just treaties—! do 'not wish to discuss the justice of the Treaty r.l Versailles—must on the contrary be adapted to economic necessities.” Iron and coal are the two b:g economic factor's that mignt bring France- and Germany together, since fiance and tiermany have their routs_ and their interests on the Continent. On the other hand, tins distinguished. German says, Great Britain’s roots are fixed, except for Gibraltar, in all other parts of the world where lie her imperial possessions. Europe lor Britain is only a source of profit for her universal concerns, says Hcxt Harden, in the “Petit l-'arisien,’' and she- is always interested to have a division of power on tlie Continent in order to make- certain her own hold on the' balance io it. This is why Herr Harden would have prof erred to have the agreement on the new working conditions between Germany and the Allies proceed on a direct line from Paris' to Berlin rather than from Paris to London to Berlin. Although he considers the Hawes plan “only the initial ste-p in the reconstruction' of Europe, ’ ’ still lie- believes it is such a step, but it does not seem to him the perfect way Out. Heading between tlie lines, we discern the. new policy of aggression cherished by Germany. Backed by ample suplilies of coal and iron, a FrancoGennan trade alliance would create a formidable factor in tlie more intense competition for world trade and make it absolutely essential in the interests of the British communities at. Home and overseas that a larger measure, of trade reciprocity and mutual understanding should exist, between the constituent, parts of the Empire.