The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1919-08-21
BRITAIN PLANS
mine CONTROL
Premier Lloyd George Announces
Policy to the House
of Commons.
LABOR CONDITIONS IMPROVED
Declares Adverse Trade Balance is
$4,000, 100000 and Warns It Means
Peri! TO England-can't
Compete With v. S.

eminent has accepted the policy of the
state purchase Of mineral rights in
coal. The announcement was made by
Premier Lloyd George in the house of
commons.
He said the government could not
accept Justice Sankey's scheme for the
state purchase Of mines, but had ac-
cepted in principle his plan for the UNI
ification and reorganization of the coal
industry.
In discussing the financial and indus
trial situation the premier said that
there was an alarming trade balance
against the united kingdom of $780,
100000 (S4,000,000,000 which threat
ened to increase. He announced that
import restrictions would be removed
September /.
The premier was pessimistic con
corning the financial future of the
country unless consumption was de-
creased and production increased. I'm
der present conditions, he said, ii was
impossible to compete with American
imports in England
Cannot Compete With U. S.
He declared that coal was the chief
factor in the industrial situation. He
said that the outlook was indeed dark
unless the conditions which he stated
were changed. He continued:
an America the wages are higher,
hours of labor are no longer and the
labor cost in proportion to the articles
produced is less. This being the case,
competition is impossible, and no tar
if will remedy this"
The production of coal this year, the
premier continued, would be 2OO,OOO,-
600 tons, compared with 2S7000,0OO be-
fore the war, although 10000 more min
ers were employed ut present than in
1914. A ton of coal which cost 10
shillings (S2.JO) in 1913 now costs 26
shilings (S6.50).
After pointing out that the British
pound at present was worth in the Uni
ted States only 171a shillings ($43S)
MIR, LlONQ george Sldleu
1--WE shall never improve matters I'M
ill we increase production, or we shall
be driven later to reduce even lower
the standard of living in this country.
There is no other alternative except
quitting the country for which we
fought for four years."
The war cost E40O000O0,000 (S2O0,-
000.000,000) the premier declared in his
speech Most of this sum was spent
for purposes of destruction.
He asserted that the change from
war to peace conditions would take
Just as long as the change from peace
to war.
The national debt, the premier de-
clared, had grown from f641, 100000
(SS, 205, O00,0OO) to f7S00,000,000 $780,
O00,000,00O).
Mr. Lloyd George said that before
the war imports had exceeded exports
from the united kingdom by f150OOO,-
900 (S750,000, 000). Receipts from for
elgn investments at present were down
to f1O0.000.000 (S500,000, 00O), while
Great Britain had to pay back an ad-
verse trade balance of fS00,000,000
($4,000,000,0
Labor Conditions Better.
Labor conditions in the united king
dom, he asserted, had improved. OF
the 100000 men demobiliZed only
100000 had NOT been absorbed in in
dustries.
Pensions cost the government $780,
100000 (S50O000,000) yearly. Private
expenditure in the aggregate, he said,
was more formidable than public eX-
penditure. One way of meeting the in
crease in expenditure was to increase
production, but the output was less in
everything except agriculture.
He declared that if the country con-
tinued in the way in which it was GO
ing the adverse trade balance would
reach f1,00O000,0OO ($5,O00,000,0 00)
compared to f150,000,000 ($750000,0O0)
before the war.
I'VE cannot prosper" the premier
said, 1--WE cannot even exist without re-
covering and maintaining our Internal
ional trade. We must bring up the
trade balance, adding to our exports
and lessening our imports.
1--WE have advanced some $4,000
100000 $500 0,000,000) to the world,
from which we are getting something
like f200,000,0O0 ($1,000000,000 year
ly in interest We have sold 1000,-
100000 ($5,OO0,000,000) of foreign Sc
curitles to pay for war material for
ourselves and our allies. We have bor-
rowed fl ,200,000000 $4,000, 0.000)
from America and Canada for the sane
purposes. Our allies Including Russia,
owe us f1,SO0.000,0O0 $4,000, 900, O0O).
"At the present moment our adverse
trade balance is 00000,000."
1--WE must bridge that chasm or at
the bottom of 1t Is ruin. We are build
ing temporary bridge by borrowing,
not only state borrowing, but traders
borrowing OF raw material, food and
so forth That will only add to the ca
catastrophe.
I'm every direction we are spending
more. We are earning less. We are
consuming more and we are producing
less. These are facts. II cannot last"
Show Volcanic Formation.