The Washington times., 1934-08-20

papers, who is in Europe making
personal study of conditions
there, sent the accompanying ar
ticle to his newspapers.)
In my desire to study at first
hand the economic and political
conditions existing today in the
important countries OF Europe,
/ made it q point to interview
not only men in government and
business, but tOorking people OF
all classes and it is the COM
poSjte picture of DhGt found
Which / will relate. Naturally
/ cannot pouch for every state.
ment Which tDGS made to me,
but my interviews, tolloWed by
personal observations, make me
believe that the UieUS I shall eL-
press are close to the true con-
ditionS existing.
Ny first story is on England
and will be tollowed By short
articles about other countries,
as soon as can prepare them.
P. B.
LONDON, Aug. 19.-I have been
in England. 1 have spoken to
members of Parliament, to bust
ness men, large and small, and to
workers. What did l find?
I found that a remarkable
change had come over British life.
Gone was the gloom of three years
ago; gone was the feeling that
Britain was on her last legs; gone
was the dread of collapse.
THE CRISIS OF AUGUST, 1881.
Three years ago Britain seemed
faced with bankruptcy. With
draw your money from London"
was the cry that resounded
through the telephones of Wall
Street, Paris and Berlin. "Sell
your pounds, for the pound will
crash"
These prophecies of financial
disaster had some justification.
Foreign funds were fleeing in
panic from the country. Every
liner that sailed, from Southamp-
ton had gold III it's hold, which
bankers were saving from the once
mighty stronghold of world IL
nance.
Government credit stood dan
gerously low, and stocks and bonds
had sunk to levels which were
alarming.
England was faced with a bud
get deficit of G74,000,000, approx
mately $370.000,000.
She was borrowing $3.50, 900, 900
per year to pay unemployment in
surance. The debt of the unem-
ployment fund had swollen to
nearly $500,O00,0O0.
Taxation had gone up by almost
$320,000,000 a year since 1929.
Also since 1929 England's budget
had been increased by more than
$300,000,000. Then came the cleo
ton of the parties forming the
national government.
In October, 1881, nearly 500 Con.
ServativeS tout of total of lit
tie over 900 members of Parlia-
ment) were elected and they had
a coalition with part of the Lib
eral party and some Of the Labor
party. including Ramsay Mac
Donald.
These three groups (COnServa-
tives, National Liberals, and Ma
tional Labor formed the national
government.
Expenses SIaShed
What did the National Govern
ment do when it took over this
legacy of the labor government?
It at once took drastic measures
to cut down the expense of the
Government, including reduction
in the amount paid to the unem-
ployed.
Slashing economies were made
in many departments.
So successful was the economy
that in 1884 the Government was
able to restore the unemployment
benefit to the full amount of 1881.
EMPLOYMENT CONDITIONS
Since January, 1888, over 922,-
900 more workers have found en-
ployment.
In January, 1898, there we're 81
265,000 persons employed in insur-
able occupations. In May, 1884,
there were 10,187,000.
MORE PEOPLE ARE AT WORK
IN BRITAIN TODAY THAN AT
ANY TIME IN THE PAST 10
YEARS, WITH THE EXCEPTION
OF THE LAST 10 MONTHS OF
1929.
industrial and Labor Informa-
ton" gives the following compari-
son. Taking 1929 as 100 per cent.
Great Rritain'S index of EMPLOY