The Timaru Herald FRIDAY, NOVEMBER 26, 1937. PLEA FOR ANGLO-AMERICAN UNDERSTANDING

Timaru Herald, Volume CXLIII, Issue 20895, 26 November 1937, Page 8

The Timaru Herald FRIDAY, NOVEMBER 26, 1937. PLEA FOR ANGLO-AMERICAN UNDERSTANDING

Now that the Secretary of State has openly discussed the urgency for an Anglo-American trade pact, a real insight into the official mind of the Washington Administration has been given. It is, as Mr Cordell Hull says, of incalculable importance that an early understanding in the economic sphere should be concluded between two great democratic peoples. In this connection it is interesting to mention that Mr Leonard Reid, who is well-known as one of the ablest of the very capable group of city editors now responsible for the financial columns in the daily Press of Loudon, following-an extended tour of the United States, recently wrote a book bearing the title “Together We Stand.” In this book Mr Reid called attention to one of the most momentous questions which has ever had to be answered and answered quickly by the statesmen of Britain. As the title of the book implies, Mr Reid deals with an international problem that not only involves AngloAmerican co-operation in which reposes the very future of democracy, but he ventures the view that further economic clashes may lead to disaster. Mr Reid on his part has satisfied himself that such a complete change of mind has taken place in Administration circles in Washington, that there is certainly offered a wonderful opportunity for a joint effort of the two Englishspeaking nations for the restoration of world trade and prosperity. Here is the prospect Mr Reid offers to the troubled world:

"America and Great Britain, the two richest peoples, the two chief markets for the world’s products, and formerly, when international finance was active, the two chief providers of capital and credit for the development of other countries, could, if they could agree on a common trade policy, set up a standard of commercial expansion that the rest of the world, unless blinded by nationalistic prejudices, would be eager to adopt.

In Washington, Mr Reid tells us. It is firmly believed that agreements between America and Great Britain would be rapidly followed by all the sterling block and by ail the countries of South America: "The picture thus presented is one of such a huge portion of the earth’s surface working together with a common alm . . . that, in the Washington view, there is no nation in the world which could afford to defy it or even stand outside it.”

Manifestly the change of heart in large sections of the people of the United States and the positive gestures official quarters in Washington have held out to Great Britain, would seem to present an opportunity to British statesmanship that may never recur. As Mr Reid puts it:

“Mr Cordell Hull (United States Secretary of State) and his colleagues and supporters admit that America, with her high tariffs, has been pursuing the wrong policy. He wishes to lead the way towards a liberation of world trade, and he wants Britain to help him. The first big step in his plans, as he sees them, must be a trade agreement with Britain.

It is not denied of course that for a long time enthusiasm for this project in Washington was matched by coldness in London. But, to-day official circles in London are plainly responsive; so much so, that although it is generally recognised that great difficulties stand in the way of the realisation of a complete AngloAmerican understanding on trade interests, it is now considered certain that official opinion in London and Washington tends to the conclusion that all difficulties can be overcome and the foundation laid between the two great English-speaking peoples upon whom will be restored sanity in international trading affairs and durable peace among the nations of the world.