The Washington times., 1919-09-26
PRODUCTION SOLE
REMEDY OF H. C. |.
British Food Controller Says
Consumption Must Be Cut
and Output Increased.
BY the ut. Hon. C. H. ROBERTS H. p
BrftIsh rood Controller.

BY the Ht, Hon, q. n, ROBERT - AA' Z -
British rood Controller.
LONDON. sept. 26.-FrOm whatever
point or view we choose to look at
the present economic crisis and the
causes underlying the inflated prices
Of every important commodity. we
must Inevitably come to the conclu-
sion that the necessary panacea is to
be found only in Increasing our pro-
duction and economizing our con-
sumption and resources.
Our future as nation hangs in the
balance, and II the present rate Of
expenditure and the present made
quate production, whether attributa-
BILE to strike and industrial unrest
or other causes, are to continue, We
are faced with irrepArable ruin. 1t
may appear alarming to make so
grave a statement, but its truth Is
Unimpeachable.
am not, however, unduly pessimis-
tic. for, on the other hand. ] am con-
vinced that a future of great pros
perity lies before us il we can only
settle down to work and save. We
must work to increase our exports,
and we must save to reduce our i'm
ports.
Depend on Exchange Rate.
Prices viii continue to be high
while our rate of exchange in the
countries from which we obtain most
Of our goods is adverse.
Our chief source OF supply at pres
ent is the United States Of America.
where the exchange is very much
against US. This was never so before
the war, when very little money
passed between the two countries, all
the payments being adjusted in the
exchange Of goods, by interest on in
vestments. and the services rendered
BY our merchant marine. Now. how
ever, our exports have so much de-
creased that the adverse balance must
be paid for
The purchasing value OF the SOW
ereign has fallen from ass before the
war to 4.53 today. The sovereign Is,
therefore, only worth about IFS. Sd
in America The effect OF this ad-
verse exchange Is to put at least u
per cent on to the price of everything
we import from America. This will
continue to be so until the exchange
is adjusted to a level value again.
a mere demand for lower prices
viii not strike at the root OF the
trouble. To reduce the high prices
we must rectify our adverse exchange.
and this can only be done BY export
ing more to America than we require
from her. I have whenever possible
IN the past preached the gospel OF
production, and ! more than ever re-
gard the Increasing of our agricul-
tural output as OF primary Importance.
We should strive as far as possible
to decrease dependence on other coun-
tries for agricultural products. and
the nearer we approach to indepen-
dence so more and more will the dan
ger Of economic disaster be averted.
All European nations are suffering
today from the effects upon agrfcuI-
ture Of the war. The devastation Of
whole areas has had a serious effect
upon output There is a general
shortage OF foodstUffs. and food can
not be expected to return to its pre-
war value while this shortage exists.
BY production alone can we create
wealth. II we do not produce more
IL is useless for the workers to hope
TO secure and maintain higher wages.
II will be a pity If, in protesting
against enriching the employer or
middieman the worker spOils his only
chance Of obtaining a larger and
larger share in the wealth he pro-
duces by allowing the country to be-
come bankrupt owing to inehiciency
and restrictions on output.