Evening star., 1933-08-13
|BRITAIN RESUMES DRIVE
AGAINST AMERICAN TRADE
U. S. Proposals Rejected in Favor of
French Coalition; Campaign Also
Under Way in South America.

Of the Argentine, for example, because
most Of it Is competitive
In the British Empire and in South
America, therefore, we are faced with
British competition which we cannot
meet, for while we have the goods to
sell-and particularly in machinery and
automobiles the buyers prefer ours
they cannot pay because we cannot
absorb their raw materials and food
stuffs. Thus there seems no present
prospect that we can recover much OF
our lost foreign trade in either direc-
ton, since we are no longer ready to
lend our customers the money to buy
our goods and remain unwilling to
admit their products to compete with
our own.
Consolidation in Europe.
On the European continent another
consolidation Is taking place. The
nations Of the gold bloc headed by
France are tightening their lines against
the United States. making regional
tions to deprive the dollar of any ad-
vantage due to it's inflationary perform
ances. Were it, not for the political
unrest and distrust due to the Hitler
revolution in Germany, an extensive eco
nomic association of most European
powers-all save the Scandinavian
states. Russia and Portugal-would be
assured.
With this continental bloc Britain
will play necessarily. Europe is still
economically her most profitable mar
ket and politically her greatest imme-
date concern. Probably not even dur
ing the World War were London and
Paris as close together, both financially
and politically, as at this moment, and
there is nothing to suggest that this
alignment will be broken In the near
future. There is certainly nothing to
warrant the hopes cherished in Wash
ington that France could be isolated
and coerced. either in the matter Of
gold or disarmament.
AS to the latter, strange as 1t may
seem, the British are by no means
eager to see any further reduction of
French forces in the face of the pres
ent German situation. Thus the old
combination of the United States and
Britain at Geneva will hardly reap
pear If and when the Disarmament
Conference reassembles. And even in
the later sessions of this moribund af-
fair. while British statesmen gave elo-
quent appreciation to American theses
publicly. they usually acted in close
accord with the French.
While 1t goes without saying that
Britain is as eager as ever to preserve
close and friendly relations with the
United States, 1t Is not less evident
that those who are now masters of Brit
ish policy are keenly aware of the op-
portunity which the domestic policies
of the new deal have bestowed upon
them to recover ground lost to America
during and since the war. Financially
they have regained all that they lost
Va yty,ry -DI7
more slowly, but with an evident mea--
ure Of success.
Getting . Little Back.
Within limits. the British are getting
bit Of their own back but only
within limits. World trade at pre-war
volume Is a thing of the past. perhaps
forever, certainly for long years. The
British primacy In manufactures also
IS gone forever. Not only American but
German competition is assured and all
nations have largely industrialized
themselves in recent years. Even France
has passed Britain In iron and steel
and become dangerous rival in tex
tiles
Thus it Is open to question whether
Britain ever can support her present
population again, and already vital sta
tistics disclose surplus Of deaths over
| pll ILLS, WIuCu S aIl ciOQueQL ulQlcdClOn
of the situation But if economically
the British problem remains acute and
Is perhaps 1nsoluble, the financial Is
solved. The British have repulsed the
most dangerous attack which they have
had to face since the industrial revo-
luton. The dollar has challenged and
lost its battle with the pound sterling.
South America as well as the domin-
ions are going back to Lombard street.
| AS for the calculations of the Roose-
welt ministration-openly voiced in
the first months-of an Anglo-Ameri.
can financial and economic associa-
ton, the British have made 1t clear at
London that they are not having any,"
On the contrary, they mean to con-
tinue to play between the gold bloc
and the dollar, but with their basic
association with the French unshaken.
We offered them partnership which
they have declined with infinite cour-
tesy but unmistakable decision. With
the French it is not question of part
nershlp. but of large measure Of com-
munity alike of interests and dangers.
What is surprising is that it could have
been believed that the British would
join America against France In the
face Of the existing continental situa-
ton.
| Copyright, 1e33.)