FOUR LESSONS.

Star (Christchurch), Volume LXVI, Issue 20221, 3 February 1934, Page 13

FOUR LESSONS.

Great Britain’s Recovery From Crisis. "ADHERE TO AGREEMENTS.” Per Press Association. AUCKLAND, February 3. Lessons to be learned frqm Britain's recovery from the world economic crisis were outlined by Sir John Sandeman Allen, a member of the House of Commons, at a luncheon held in his honour by the Auckland Chamber of Commerce and the Royal Empire Society. The first lesson was not to spend more than one earned, the second was not to borrow unless the loan could be repaid easily, the third was not to borrow or lend except on a selfliquidating basis, and the fourth was that in order to sell it was necessary | to buy. England stood for the Empire, and people in the Dominion had to stand for New Zealand and the Empire. He believed, however, that the time would come when Great Britain would have to deal best with those who dealt best with her. “ Let us adhere to our agreements,” Sir John said in reference in the Ottawa Conference and the delay in some Dominions in giving the agreement effect. There was, he said, no thought of a threat in his words, and it was sheer folly to imagine that England could provide her own food supply. She was producing only 17 per cent of her breadstuffs, 10 per cent of her butter and 21 per cent of her cheese. Britain had to stand up for her farmers, but not to the detriment of relations with the Dominions. “ Many people, of whom my wife is one, think New Zealand butter is the best in the world,” he added. “ Keep it properly graded and live up to the Ottawa Agreement at once, so that people in England will not have any cause of grievance to be taken up with their Government.”