The border vidette., 1934-05-19
ECONOMIC HiGHt.iGAIS
s. 81

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Now its looks as il the arms
conference is to be even more of
a dismal failure than the most
pesslmIstic feared.
| There are two very large fys
in the disarmament ointment.
One is Ger armany, which is increas
ing it's military budgst, is arm.
ing rapidly, and is cleverIy
abrogatlDg The arms provisions
of the Versailles treaty. So
long as Germany follows this
course, France refuses to disarm
will, in fact. build 40 its lie.
Tense forces accordingly. Both
Germany and France blame
each other for wrecking the con
lereUce.
The other fly is Japan, which
has all the major powers wor
fied. Events OF last year cul
minatlDg ia the withdrawal of
Nippon from the League Of Ma
tions--have proven that Japan
doesn't just talk, she acts. And
she isn't in any mood to arbitrate.
! The upshot. OF all this is that
a world which hasn't been able
to recover from the deleterious
effects of the last war is again
nearer war than at any time
since the spring Of 1914. Unless
tberetis de6oite change OF po-
iicy, avery great power will
follow a course Of Intense nation
alism, as Germany, under N All
rule, is dong now. Foreign
trade will lankuish. ky-high
tariff walls, even complete EN- !.
bargOes, will be created. An
armament race will be9in-and
lif that happens. taxpayers OF
all countries will fnd out what
hsav7 taxation really is. Moth
log 10 tue world Is 80 expensive.
/ the last war, for example, cost
the world close TO S4OO, 900. 900, :
! 600, according to the Carnegie
foundation, aud future genera
items viii pay for it.
Oddly enough, the best hope
for peace and disarmament is the
! depression! Most countries are
pretty close TO being broke.
| Their citizens are complaining
loudly about taxasion. There's
not an economist of standing
who doesn't believe that another
war would lead to national bank
fuptcles, reVolutions.-tha it
would set civilization back q
hundred years. And = good
many lockers on are of the opin
ION that memories of the last
war are still strong in the minds
OF the common people, who bore
the orunt OF the struggle, even
II they have been forgotten by
premlsrs aud chancelleries and
high commands.
Most interesting international
events are now centering in the
far east. Japan's statement
OF policy which was politely
phrased out said ia effect" We'll
run China and every thing else
around here; you white boys
better keep your hands off or
else!-startled the world. And
England's announcement that,
IL would be necessary to protect
'ner textllesindostry from Japau
ese competition has: caused both
.po aers TO prepare for An 'iuten
sive trade war. which Will be
fought with tariffs now-and
perhaps eventually win navies.
us q. serious situation the
fuse Ia lald. and only q match
ls needed to start IL going. Que
encouraging phase of,rt is the
geuera!, belief that the q. s.
viii! let Other countries do their
owo flghtlng, vii! keep 'aosoio
te:9 eotrsl. .n ,,.
These international events
have rather ooscured the doings
OF Congress, 30 far as headlines
are concerned. But it's been a
ouay body. Most important act.
In the hight Of It's effect On indus
try, was the passing Of tns stock
exchange Oil oy the House by
an astonIshingiy heavy majority.
l. DOW goes TO the Senate where
living. Uacfe Billy il 95 years
old ,stl! resides aC bis ranCn with
Mrs., Four near Dragon aud
was pressut at the picnlc yester
day greeting old friends, some
OF whom ne had oct seen for 80,
10 or 80 years. . ~
Toe third gift was presented to
Mrs. L Iaira Gallagher of Pierce
J n