New-York tribune., 1919-08-19
Lloyd George
Says Britain
Faces Ruin
Continued from page 1

continued from Dnss
ing the miners greater interest and a
voice IN working conditions.
III order to organize the mines and
reduce working expenses to q mini
mum, the country would be divided
ih'o areas, IN each cf which amalga-
nation of labor in the mines should
be undertaken for limited period
Inc workers should have directors
representing them on the body CON
added
Mr.. Lloyd George said the govern
mcnt would prepare measures at the
speedlest moment possible so that min
eral rights could be purchased by the
state, and that fund would be raised
for the promotion of the social welfare
of the miners, but that the government
would not purchase or operate mines.
The production of coal this year. the
Premier continued, would be 100000
600 tons. compared with 87,0O0.O 900 be
fore the war, although 10000 more
miners are employed at present than in
1914. A ton of coal which cost 10 shl-
llngs in 1915, now costs 26 shillngs.
y
Kingdom, Lloyd George added, had
improved. OF the 100000 men de-
modified, only 100000 have not been
absorbed in industries.
Fewer Hours Cuts Output
One of the arguments in favor Of
reducing the number of working hours.
the Premier said, was that the reduc-
tion in time would not involve a re-
duction in output. There has, he said.
been substantial reduction in the
hours of labor and it has been found
that the output has been reduced al
most in the same mathematical pro-
portion.
Labor has made tremendous gains
during the last two or three years, the
Premier added, but he said these could
not be maintained if production did
not increase.
The Premier said he thought there
was evidence of intentional slowing
down Of production and that it is
necessary for not only the workmen
but the managers and the foremen to
put their shoulders to the task Of in
creasing production. He said it was a
dangerous and fatal fallacy that the
less men worked, the more work there
would be for others; and that it is
highly important for those having in
Huence with the workers TO do their
utmost to explode this fallacy.
Can't Compete With America
Premier Lloyd George declared that
coal was the chief factor in the indus
look was indeed dark unless the condi-
tions which he stated were changed.
The Premier continued:
IN 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
tariff will remedy this
Summing up, the Premier said:
"We saw the country imperilled by
under production and proposed to deal
herewith by bringing the facts home
to labor. BY dealing with the question
of extended hours and minimum
wage and giving workers q voice in
control and share in the prosperity
Of the industry"
Turning to trade conditions, Mr..
Lloyd George said:
"We must forget pre-war conditions
and deal with actualities."
"At the present moment our adverse
trade balance is eS0O.00O0 GOO.
"We must bridge that chasm, or at
the bottom of it is ruin. We are build
ing temporary bridge by borrowing
not only state borrowing. but traders
borrowing for raw material food and
so forth. That will only add to the
catastrophe.
The lremier declared that If the
country continues in the way in which
4 4, tolo
would reach e1.000000,000 (S5 100000
O0O). compared to 4l50,000,0 600 $l75,
000O0O) before the war
He declared that he regarded the
adverse American exchange rate as in
itself protection against the importa
tion Of manufactured goods. To deal
with the vagarles arising from the
fluctuations in exchange, the Premier
said the board of trade would be
equipped with emergency powers to
check sudden and undue impOrtations
Of goods at prices below the cost of
production of goods in Great Britain
due to the collapse Of exchange.
The Premier said the government
had decided. as an interim policy, that
import restrictions should be removed
September l.
The import restrictions, the Premier
continued, had given British manufac
turers an opportunity of making and
dealing in goods which otherwise
would have been hurried here from
foreign countries.
After pointing out that the British
pound at present was worth in the
United States only 1712 shillings, the
Premier said:
I'VE shall never improve matters un-
til We increase production, or we will
be driven later to reduce even lower
the standard of living in this country y
with regard to protection against
unfair competition the Premier con-
tinued, there will remain obstancles
to imports in the shape OF low eX-
change rates and high freights. These
Will remain, because we have decided
that we cannot longer keep up ex-
changes. 1t is better we realize that
it may have the effect of raising prices
of food and raw materials, especially
those from America. That is the result
of underproduction, and it is needful
that il should be brought home to
everyone, otherwise it will never be
cured.
Not to Support Exchanges
"The government purposes to aban-
don tho sunDOrt of exchanges. except