The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-04-06
Political Turmoil Has Not In
jured Great Britain.
Much of What Chancellor Said
Applies to o. s.
new GOLD THEORY SECUTED
Increase in Production Rapidly
Absorbed by Trade.
Poor Business Cry Shown to Be
Without Foundation.

New York, April Sin an official and
authoritative manner David Lloyd
George, chancellor of the British ex-
our own business men, especially fin
ancial leaders, have now for some
months received from Great Britain.
In the statement made by Lloyd
George in the house of commons on
Tuesday of this week is to be found
also, some intimation of the curious
and seemingly paradoxical conditions
which have prevailed both in Great
Britain and in the United States for
year or more. The statement has
been frequently made that in Great
Britain the growth of socialism or of
radicalism or of the rule Of an untram
meled democracy threatens the indus
trial and commercial pre-eminence OF
Great Britain, as it surely threatens
her political traditions. Yet notwith-
standing various radical tax measures
an apparent yielding to the demandS
of the crowds, and especially of those
who work for wages, and in spite of
two great strikes, one of which has not
yet terminated, business and CONNER
cial life of Great Britain in the year
1911 compares faVorably with the fig
ures showing in earlier years what
her activities have been. Early in the
winter there came from Great Britain
official statistics which showed that
the money value of the exports of the
kingdom was greater than that re-
ported from any other country. Great
Britain still maintains her pre-eni
hence as an exporter of manufa ctured
commodities, and nothing could be
discovered in the statistics printed in
January of this year which would
justify the suspicion that Great Britain
is finding her exports seriously impair
ed, although it is true that her pre-
eminence as an exporter is now threat
ened by the United States Lloyd
Georges comments were based upon the
budget which he introduced into the
house of commons. Like Gladstone, he
had no experience as a banker when
he became chancellor of the exchequcr
and his dealings with banks were al
most exclusively confined to his per-
sonal affairs and, like Gladstone, his
knowledge of fiscal questions had been
obtained solely from his experience as
a member of the house of commons.
He does not possess G1adstone's. unique
and amazing capacity so to handle the
dry figures of the budget as to make
them contain a pictured narrative of
the various industries of Great Britain
and fascinating story of the develop
ment of her resources. But what Lloyd
George lacked as a fascinating narrator
of the story that is in the statistics
of trade, taxes, excise and the like
he made good by his revelation of the
fact that i'll spite of political turmoil
and economic agitations Great Britain
has maintained her prestige and the
fiscal system now in vogue in the
kingdom has been So successful that
it was possible for the chancellor of
the exchequer to announce that the
government possessed a surplus of six
million pounds, or 80 million dollars,
G1adstone's day was a record of this
kind made, although Gladstone's
achievements as chancellor of the ex-
chequer were regarded as phenomenal.
The Chancellor's Explanation.
In explanation of the gratifying
statement that the surplus is rec
ord maker for Great Britain and that
it would be unnecessary to impose any
new forms of taxation, Lloyd-George
speaks of Industrial and commercial
conditions now prevailing throughout
the world. Much of what he said
might properly be applied to condi-
tions in the United States. For in
stance, he has discovered that the
commercial conditions now prevailing
throughout the world are remarkably
good. In them are to be found no
that are unhealthful. The
conditions are both healthy and |
healthful.
Curiously enough, the British chan
cellor of the exchequer takes issue |
with some of the thinkers and acad-
en1ic scholars respecting the effect of |
the wonderful production of gold. Re |
Gently there came from India a very
and carefully-prepared es-
say written by one of the most accom- |
plished of the economic thinkers of I
India in which he ventured to predict |
that if the yearly production of gold |
now in progress throughout the world |
Is maintained a few years longer, the |
value of comm ODDITIES of all kinds will |
be increased to abnormal figures, |
on the other hand, those who |
are in possession of bonds and stocks
1r great amounts of cash will find that |
these properties have greatly dwin
He'd.
The Gold Production.
In this city some of those who have
been giving careful study to the eff
feet of the normal yearly productions
IF gold and the certainty that it is to
be increased before it is diminished
nave been inclined to think that the
high prices for necessaries
If life and the consequent demand
made by wage earners for increases
IAN be traced to the colossal accum-
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