Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-12-29
BRITISH EMPIRE
FACES NEW YEAR
MOST CHEERF FULLY
Grave Problems Are to Be
Solved But Right Solutions
Are Expected to Occur Dur
ing Twelve Months.
sY Hoan,s, JoussA. srsers. LEASED wrssI

tAY HoRnla1 JOURNAL SPECIAL LEASED wtRs1
London, Dec 2S (by the Associated
Press. 1.-THE people of Great Britain
look forward 10 a new year full of fl
nancia and political difficulties but
with greater optimism than they
would have thought possible a few
months ago.
A. new world fit for heroes to live
in which was an ideal of the war,
has not yet been fully attained, at
home and international problems
which brought on the war still are
hanging over the head of the nation.
Yet the British people are trying to
face the future in an invincible faith
in the nations ability to conquer all
troubles.
The most cheerful optimist of all is
Premier Lloyd George. Under the
leadership of his unflaggng faith that
everything will work out again for the
best, the clouds of despondency, pic
tured by the newspapers as thickest
when the chancellor of the eXchequer
declared that the nation was heading
for bankruptcy, say Britons, have yis-
IDLY lifted.
A foremost cause for confidence is
the steady commercial revival and ces-
sation Of labor troubles. which Bri-
tons hope will continue. These give
ground for prediction by optimsts that
Great Britain will return to normal
conditions sooner than any other great
European countries which engaged in
the war
Co ton Trade Flatterng
Manufacturers in many lines have
business booked for far ahead. The
cotton trade, one of the basic British
Industries, is said to have all the Or
ders it can fill for the next five years.
Shipbuilders say they are in the
same happy condition. They have yet
10 be convinced that America will be
able to take away the former British
supremacy in the carrying trade. They
base their confidence on the belief
that while the British are a seafaring
race, the Americans are not.
Apparently they believe that Amer
lean ships built in the war are des-
tined to be bought eventually by dis
tinctly maritime nations. Their conf
dence, however, is not iron-clad, Lord
Inchcape told the shareholders of one
Great Britain steamship company
that, If the American government
turned over its ships to private own
ers, Great Britain need not be afraid,
but if the American people We're TO
be taxed to build up their mercantile
marine, the outlook for the shipping
industry in these islands was nothing
lJit rosgs.-s ..-.- = J, 4. ,ie..s .a ~
British bankers and merchants look
forward to q great Increase OF busi-
ness with South America in 1920 They
expect TO hold their pre-war custom
ers and to gain much of what Ger
many lost. They profess to discount
the prospect that the United states
will acquire control of the South
American field.
Many nations are anxious to buy
from Great Britain. How some oil
them can pay is a problem The de-
cline in exchange rates had depress-
ing effect on American trade but eX-
change with France, italy and smaller
markets is favorable to Great Britain.
Two Bad Handicaps.
Against these reasons for business
confidence stand two bad handicaps
in the form of financial and labor con-
ditions. The national debt appears APP
pallng to the British public but OPP
tirhists argue that it is smaller than
was the debt after the Napoleonlc
wars, measured by the country's wealtt
and potential producing powers.
The question of clearing the decks
by some for of a capital levy is sun
at the front and may be one of the
burning political questions OF the year.
The naturalization of mines ana
railways is another British problem
and with it are linked questions OF
honrs and wages which confront all
industries alike and which England
shares with America. II has been said
rtt it9tc
Napoleonic wars was possible through
underpaid labor but British employers
do not expect this to be among the
assets of the future. on the contrary
many individual leaders say British
industry is facing a question whether
the steady increase In wages may nov
become a dangerous handicap In COM
petition with other countries,
Lnbor's Benefits.
Labor has other prospective benefiisI
In the promise of Lloyd Georges great
scheme for building comfortable work
mems homes throughout the country,
which is Just beginning to materialize,
and in plans for insurance against un-
employment which have not yet devel-
oped. The principle of the latter plan
is that all men out of work through
no fault of their own shall be assured
of . respectable living as rlght' Wlth-
out any taint of pauperism.
Ireland still is regarded as one OF
the governments most difficult ana
threatening domestic problems. Early
forecasts of the new home RUE piii
met nothing but opposition from an
Irish factions. The Sim Fem, WIN q
majority of the Irish votes, threatenea
to boycott the scheme as u poyco'.9
the British parliament.
India and Egypt are being weisneu
in the balance with hopes anu i1al
as intense as those centered upon ire
,aua r.d:. lii 500 in the new year