A German’s Praise of the British.

Waikato Times, Volume 111, Issue 18630, 7 May 1932, Page 11 (Supplement)

A German’s Praise of the British.

Dn. ADOLF 1 1ALFELD, the London correspondent of the Hamburger Flcindenblal!., wrote recently to' bis paper: For weeks we have been waiting for Ibis English inflation, but it does not come —and why not? Because (states the writer) an Englishman never despairs, and is (Irmly convinced that at tlio eleventh hour lie will be able to

P/Juddlo Out of tho IVllre. Tho Englishman does not gel excited. Here in London wc have not seen any runs on the banks, or on shops: everything is continuing Just as usual. "In the House of Commons the Chancellor of the Exchequer rises and resoundingly states that England to-day—as ever—is the greatest creditor nation In the world, and everybody goes home deeply satisfied. " The Government has not the slightest Intention of trying to make out that things are better than they are. " Thus did the British Government publish the dally figures of tonnage sunk by German U-boats. England is supremely contemptuous of world public opinion. Great Britain believes in herself. " Thus calm and mental balance are preserved although the people are conscious of a national disaster. Tho Bank of England hero is not a financial institution, but is a kind of national shrine, and one has Lo try ami put up with the sovereign no longer being quilo a sovereign. *• q-(i 0 English people seem to be feeling this a kind of disgrace with which the Gad of the Puritans lias punished his chosen people. An amazing tiling happens. Under the stress of circumstances

Each Individual Fools Rosponslblo for the well-being of tho community. Daily the Treasury is receiving jewellery and sums of money from unknown people for the amortisation of the. National Debi. and several times recently auctions have taken place

Will Muddle Out of Mire.

at Chrislie’s, the proceeds of which were intended for the national Exchequer. " Undiminished moral force in the minds of the whole people; that is the secret of the English in this hour of crisis. Business remains as respectable as ever, no dizzy speculation in paper sterling is seen on the Stock Exchange, and it is not necessary—as in New York or on the Continent —to assist or to carry various concerns, " No bank would be a party to any deals which might give the impression that confidence in sterling had wavered, and big shops and small shops, restaurants and public authorities, act in the same way. Even to-day I am able to telephone my news to Germany at the same rate as previously. This policy may for the moment cost the Government appreciable sums, but In the

Long Run It Will Pay For Itself, for If the State demands that the merchant should not put up his prices, It must Itself set an example. " Tho miracle Is actually taking place In England. Prices, though they have risen slightly, are still below those of 1929 and 1930. Circumstances, of course, are in England’s favour; the general slump In gold prices and the fact that England gets a largo part of her requirements from other countries also off tho gold standard —these conditions, of course, help. The chief help, however, is tho absolute refusal of Englishmen of any class to believe in tho existence of an imiation.

“ How did our inflation and the crazy dance of figures start in Germany? With mushroom companies and make-believe elegance. England, however, appears to be going tho opposite way. She is trying to find her way hack to Victorian

Matter-of-fact Simplicity and Economy. "Another great danger from which England has been able lo keep clear Is intellectual inflation, and that fact in these days is one of Hie greatest assets of all.’ 1