BRIGHTER TRADE.

Waikato Times, Volume 110, Issue 18521, 29 December 1931, Page 9

BRIGHTER TRADE.

- —— OUTLOOK IN BRITAIN. GERMANY THE CRUX. A definite brightening could be seen in Great Britain’s own trade at the lime that he left tho Old Country, but there was great despondency about the state of Germany, Mr G. S. Thomas, who returned to Christchurch last week from his English tour, remarked to a Sun reporter. He discussed also the British election, expressing the opinion that Mr Ramsay .MacDonald, Lord Snowden, and Mr ,1. li. Thomas would find a place in history as among the great statesmen of the period. Vast sums of money had been lent to Germany, and Hie general impression in Great Britain was that Germany would not pay, and that I lie world would oillier have lo stand Germany's bankruptcy, or find more money In keep her on her feet. “According In many well-informed men, Germany has not done her lion i >i iiosl In meet, her inlenialion.il obligations." Mr Thomas coniinned. "She has borrowed extravagantly and spent lavishly---lui|. she lias invested her capital in other, countries. "In Holland, for Instance, a great, number of subsidiary industrial mm corns have been -darted on GeriUciii capital. These are flourishing, while

the parent con'cerns In Germany will go bankrupt If a call for further taxation is made. “Great Britain feels that If Gcr-' many defaults, other European countries will follow. In that event, Great Britain will be faced with the problem of making huge payments td America, with nothing coming in to the Old Country from debtor nations." A Bitter Campaign. Mr Thomas will never forget his experience at the general election at Home. The campaign was short, sharp, and in some eases very loiter, but what stood out was the serious altitude of everyone toward the issues at slake. “For some time prior to the election, as is known, I here was a rift in the Cabinet, caused by the attempts at control made by the- Trades l niou Council. Men of Hie stamp of Mr MasUonald, Mr Snowden and Mr Thomas were not prepared .to allow the Trades Union Council to govern Croat Britain. “Immediately before Great Britain came off the gold standard, lliings financial had reached such a pass that in lia I ion had actually taken place. Mr Marl mu,aid and his snjiporlers realised lliat. I hr, time had come In rail a 1 1 ,*i 1 1 |,.iinmi', hampered h\ liu’ Trades Union Council ami the exlreuisls of Ihe left, wing, had made a crave, mistake, in laelies. ‘'However, many of the l.abour men wlio are at, the moment in the wilder ne>>. i-. it were, are lirsl-class men. mill presumably a linio w ill eiuiie w lieu 1 1 1o\ will again constitute a force in Parliament —hut, it is to he hoped,

without the handicap of the loft-wing-ers and tho Labour Union heads.” The fear in England now was that the National Government’s majority was far too great, and if was thought that it would have been belter to have a stronger Opposition. Police Precautions. There were grave fears of disturbances on election day, and the police discouraged the formation of crowds in Lite evening. Election returns were not displayed in the streets, and people had to rely on broadcast anmuneemenls, or Ihe bigger restaurants and clubs. - It, lias been said that there was no boisterous rejoicing on election night, hut that is not true of the restaurants and cluhs, at any rate. People [here simply let themselves go in relief o\er Ihe Nationalist victory. “The ihree Labour leaders, Mr MacDonald. Mr Snowden, and Mr Thomas, are worshipped in Great Britain. Whatever happens in the. future, Ihe Mineral feeling is Iliat history will claim them as great statesmen.