New-York tribune., 1922-02-15

very trying situation. Her population
continues to increase in a somewhat
more rapid ratio than in prc-war days.
She still raises tho grain supply for
only hundred days. Her wages are
comparatively high and her labor ef'i-
cheney low. Unemployment is onor-
NOUS. and tho burden of unemployment
do)es falls upon her treasury and her
taxpayers. Her income from foreign
investments. from the mercantile ma
rinc and from coal exports is depleted.
She faces a world which is economical
~ inpotent, and she must meet in neu-
tral markets the falsely stimulated ad
vantages of German competition.
In presenting this view TO American
friends find the most frequent answer
is that ] have quite forgotten tho OK
tent of The British Empire; that it is
ia substantially self-sustainjng. This
criticism. think. is based on failure
to understand that the colonies Of
Great Britain from the economic stand
point are alien lands to the mother
country
England must pay for bushel OF
Minnesota by providing foreign ex-
change. A bale Of Australian wool
must be paid for the same way as a
bale of Alabama cotton. The British
Empire is not an economic unit
am aware that this sober view Of
the English situation is shared by few
Americans. ! found that it came as n
surprise to people on the Continent
The prestige Of England is still so
great that it is hard to conceive that
IN relation to food production she is
IN almost the same position as Austria.
But IN England 7 found remark
-
Some of the most responsible leaders
in the political and financial life of
England agreed completely with my
statement OF tho basic situation that
have outlined hero. Though they are
facing it seriously. they arc fortunatc-
ly not hopeless about it, Neither am |.
Food Problem Cannot Wait
For Settlement OF Problems
Eut Of all human problems the food
prob lcrl is the most insistent. 1t can
not wait for future resdiustmcnt; the
international grocery bill is o cash
afTai~. England hss great international
resources Still aVa;lble and for some
time to como she can, metaph or icallN,
live on her fat. English labor is rapid
~ coming to its senses. 1t secs that its
profit must be IN direct relation TO the
amount it produces and that il must
send out into the markets Of the world
Substantially the equivalent Of what it
must have IN the way Of food and raw
material. The false situation of Ger
man export trade may last for some
time, but il is passing phase. There
is nothing permanent in the advantage
tNut comes from q dorreciatcd cur
rcncy. That advantage ceases whom
t'o depreciation has struck bottom, or
wherever il halis. On the other hand
there comes corrcsuondiNg disadvnn-
tsgo when the effort is successfully
madc to roiso the value of The cur
IVrCy.
1t IS conceivable that many Of the
domestic difficulties that industry nov
faces may be cured or their adverse
influence at least greatly reduced.
Nevertheless, England must have an
orderly world Of commerce, world in
which her neighbors orc producing and
selling, it she is to have customers who
can buy her goods. And she must have
customers in order to live
1"opyrieht by IEarcoNr' Nrace & CO
Published by epecial arrangement with the
Mcclure Newspaper Syndica'e)