Evening star., 1932-01-16
BRITISH COURAGE
+ REV|VEDF0R 1882
Nation Passes Through
! Storm of Economic Strife
Into More Quiet Waters.
by FRANK HAvILAND KING.

ny the Associated Press.
LONDON, December 23.-The year
1882 will write significant new chapters
nn tbs centuries-old story of the British
people.
Through a storm Of economic and
soljtical difficulties, the nation has
emerged upon quieter waters, and as
the year ends can rest and preatne
more easily for awhile, gathering
strength to renew the attack upon us
problems. ,,.,
THE crisis has not passed. The politi-
cal aspects of the situation have been
solved. But the roots Of Great Britain
economic and industrial difficulties lie
deep in the history of the times. Find
ing their beginnings in the World war
and its aftermath, they cannot be cured
quickly.
Recovery has been slow, but even op-
ponents of the national government
admit conditions might have grown
much worse. There has been no panic,
comparatively few disturbances and no
material destructive effect upon the
social life Of the nation.
Nation Remains Calm.
Through dramatic political changes
and basic alterations in its financial
and economic life, Great Britain has
remained steady and calm. John
citizen has tightened his belt, grlmly
submitting to heavier taxation and re-
duced wages. Rich and poor have been
called upon to make sacrifices.
The immediate reward has been
escape from a financial crash and cur
lrency imitation which at one time dur
hing the crisis seemed imminent. The
L. e+a Nrbjch fn11 IN rent
lin its dollar value when its gold an
lchorage was abandoned, has escaped
1.-THE headlong depreciation which after
1.-THE World War befell both German and
French currency.
British exports have increased, due
to the position Of the pound, and the
slight industrial revival has given new
courage to the nation. Above all, un-
employment is at last on the decline.
In July 2,7l4,O00 were out of work
and the figure seemed headed for the
3,000,0 900 mark before the year end. In
stead unemployment reports show a
steady decline of a few thousand each
week.
Budget Is Balanced.
The British budget has been balanced
Unsound unemployment finance has
been corrected, without sacrificing the
unemployment scheme itself. Govern
mental extravagances of every kind
have been curtailed, with cuts in pay
for everybody, from the prime minister
himself TO the blue-coated policemen
who direct London traffic.
Economy measures have been insti-
tuted in the fighting services, despite
unrest in the feet, which, by tact and
careful handling, was kept from spread
ing.
In the short session of Parliament
tust ended the Macdonald administra-
ton began to attack its next great
problem-that of correcting Britain's
serious adverse balance of trade,
amounting to f3o0,eoo, 600.
Sails New Seas.
Abandoning its traditional free trade
policy as it forsook the gold standard,
Great Britain is sailing new and uneX
Plored seas, feeling its way along un-
charted economic routes.
The shaking the Empire received last
Summer and Fall may result in its
awakening, for Britains present objec-
tive is the welding of dominions and
colonies into economic unity with the
mother country India remains Brit
aims paramount political problem, test
ing craftsmanship to its supreme limits
In international fields the National
government depends upon concerted ac-
ton by all countries concerned for So
luton of the problems of World War
debts. This problem will be Prime Min
lister MacDonald's immediate concern
when he returns to Downing Street from
his much-needed Winter holidays.