Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-28

cally but economically as well. Politi-
cal nationaliSm was linked with eco
non1ic nationaliSm. This new CONNER
! cial sentimentalism had a harmful re-
percussion on the British industries.
Before 1914 most Of the small states
hac accepted their economic dependence
on some of the big powers as an in
! evitable fact. Trying to develop their
own industries was futile, because it
did not pay.
Learn Lesson From War.
Hardships they had to undergo
| throughout the war opened their eyes.
/ Serbia and Rumania were entirely de-
! pendent for war material on France
| and Great Britain. Had they possessed
even a small but well organized indus
/ try of their own they could have met
| their needs without being at the mercy
! of their powerful allies. This, they
! made up their minds, must not happen
! again, and since they all confidently
| expect a new war within the next few
! years, their governments decided to
build up an industry of their own
which could be transformed into NUM-
tons and arms factories whenever the
| necessity arose.
| AL Central and Southeastern Euro
/ pean States have learned their lesson
| from the war experiences of the two
dUONC-IuGl1LlOIlSQ ana NOW
| possess adequately equipped, up-to-date
factories which supply to certain ex-
| tent their local needs; whatever more
they require they purchase abroad,
though only little comes from England.
The reason only small orders are
| placed in that country is q purely
financial one.
Englands return to the gold stand
ard was the straw that broke the cam
al han Last 80 41A al
currencieS have deprecated consider
ably, while the English currency has
| gone back to its pre-war value. Coun-
tries like Jugloslavia, Bulgaria. Ru-
mania and Turkey prefer to place an
order in Italy or France, where they
have to pay only seven or eight times
| the pre-war price, instead of purchasing
what they need from England, where
their currency is quoted at only the
| fortieth part Of its original value. AS
a result, England's immense factories,
which used to supply the worlds
markets, are idle while her leaders are
asking each other what to do next.
| 1t Is depressing to read the returns
of England'S foreign trade in the bull
| letinS published by the Department of
| Commerce. Civil war in China and the
| paSsive-resiStance campaign in India
have further damaged England's export
trade.
Bankers Too Careful.
Another cause of the British loss of
! world markets is believed to be due to
the somewhat too careful policy of the
English bankers. England is one of
the most prominent centers of world
finance. It is frequently said that when
this country decided to return to the
gold standard its rulers had made Up
their minds to sacrifice industry to
bankings The bankers, however, are
! too careful and do not feel that they
can justify any risky investment. Con-
sequently, they prefer a safe or per
cent investment in South America to
an investment in any of the European
countries. The result is that even If
| Central or Southeastern European states
want to order goods in England they
are up against the back of credit.
British industrialists themselves find
| 1t hard sometimes to obtain the neces-
sary funds with which to carry on their
business. Continental bankers who
have at heart the prosperity of their
industry act differently. They give
credit even If they run q risk, provided
that debtor agrees to place substan-
tial order in their country.
The slogan adopted by most Of Euro
pean states, Buy national goods and
keep your money at home" together
| with the desire of their treasures to
obtain money from any available source
has induced them to establish prohibi-
tive tariffs on all imported products.
England and the United States are
suffering most from this tariff wall
which Is eirding Europe in 1880. But
while the United States has had so
far only little to suffer from these high
tariffs, free-trading England finds it a
serious blow. The free-trade doctrine
is deeply rooted in the minds of the
very conservative English people and no
official politica. party has had the cour-
age yet to come out openly with pro-
tective tariff suggestion.
Heavy Duties Exacted.
] It is true in the last few years that
special bills have been passed by Parlia-
ment taxing heavily many imported
| products. AS a matter of fact. when
the list of taxable commodities is sub
mitted by customs officers to the
traveller entering these islands he has
| the impression of being In the New
/ York customs house. Silks in any
| shape or form, leather goods, cameras,
| tobacco, alcohol, manufactured silver
and gold, perfumes, soap, motor cars,
| technical instruments and many ether
| manufactured products are subject to
duty varying from IS to SIS per cent.
But these import taxes help the treas
ury more than British industry, because
| the English people have never ceased
being partial to English manufactured
| goods, which they have always bought
| in preference to imported products
! Continental Europe does not suffer Sc
| riouSly from these tariffs because their
! agricultural products continue to enter
| the kingdom duty free But England's
! exports have been crippled by the enor-
nous taxes imposed by continental gov
! ernments on every article manufac-
| tured in that country.
| Many people compare Britain with
/ an empire extending over the seven
seas. Australia, Canada, South Africa,
India and many smaller countries and
islands owe allegiance to King George
| V. This being the case, why should this
country worry about her trade and in
dustry, when more than half billion
people are her citizens?
The World War has had a serious
repercuSsion on the relations between
England and the empire The domin-
ions and the colonies sent their sons to
help the mother country, but after the
war they have become individual states.
They obtained greater freedom as a
reward for the sacrifices they had made
for the mother country. The dominions
are now completely independent eco
nomically and England can no longer
dump her industrial products in her
own colonies. Canada, Australia, New
Zealand and South Africa have their
own cabinets and their own parlia-
nents. India soon will follow their
example.
Look to Own Prosperity.
The King of England continues to
be recognized as ruler. but his repre-
sentative, which still carries the mis-
homer Of governor, has little more
power than an Ambassador in for