Evening star., 1938-02-06

the repeated assurances from london that
his majesty's government would 20 a far
as tne American Government decides TO 70.
many wonder whether we may not be left
to hold the bag alone
In Great Britain there are two govern.
ments-the visible one with the prime min
lister and Parliament, and the invisible on.
in the City In many cases, especially in
matters OF foreign relations, the voice Of
the invisible government is the final one.
The City leaves all political idealism to
Downing Street and TO Westminster. con-
cerning itself primarily with the cash"
aspect of every situation and the ieop-
ardy to its investments. Because of tn.
City the British government adopted its
Vacillatlng attitude in the Spanish Civil
War. because of the City Ramsey Mac.
Donald was compelled to let us down 81
badly IN 1882, 1t is because of the CITY
that Great Britain does not know whether
sne wants TO be friends or enemies with
Germany and Italy Its realistic leaders
believe that money will always talk and
that any situation can be smoothed over
oy timely substantial loans The slogan
OF the City is Don't worry, all these dicta-
tors will be compelled to come to us for
loans sooner or later Then We shall nx
them
Chamberlain Heeds CITY Orders
fhe present British Premier, Nevill.
Chamberlain. is eminently City" man.
He has embarked on a stupendous re-
armament program because the City told
MN to go ahead II will create business
employment and prestige He wrote love
letters all last summer to Mussolinl and
sent Lord Halifax te talk business 10
Hitler because the City saw possibilities"
in such actions
Ontll 1eW weeks ago he was ali set to
Cooperate With the United States in "anv
action that country may deem advisable
to take in the Far East" Recently, how
ever. the City has put on the brakes and
somewhat dampened his enthusiasm. Om-
lnous reports arrive in Washington from
London and from Shanghai that ther, are
negotiations in progress between Great
Britain and Japan to spare" Canton and
to allow British trade to flow into China
through the Hong Kong and Canton ports,
There are reported conversations between
Toxic and London on the servicinz of
Chinese Indebtedness from the Japanese
customs collections in Shanghai and
Tientsin. There are conversations about
using Japan as the middle man in All
trading transactions between the exporters
in the United Kingdom and their Chinese
customers.
Future Menace Ignored.
The menace confronting India and tn,
domlnions from the Japanese conquest Of
China is matter Of only academic inter-
est to the City tycoons. What Concerns
them most is the losses which would be
sustained in the event Of an economic
blockade of Japan be it from an actual
blockade or an official embargo of all eco
nomlc transactions. These men indorsed
the economic sanctions against italy In
1885 because only a limited class of goods
was subject to the Leagues sanctions and
trade was Still possible through Italys
non-sanctionist neighbors even in the en-
bargoed products. But Japan has no
friendly neighbors through whom mer-
chandises could be bootlegged. Further
more. an economic embargo as provided
for in the amended Trading with the
Enemy Act would be drastic and would
cover all economic relations with japan.
This is not to the taste of the practical.
minded City leaders.
The enigmatic attitude OF the British
government is of as much concern to the
administration as is the temper Of the
American people. President Roosevelt and
his advisers know that from the physical
point of view this country has more than
ample means to put an end to Japan's az
gressive attitude. But they do not know
whether they will have to play a single
handed game in the Far East Neither
have they been able to fathom the extent
to which the American people have grasped
the importance OF our stake in the present
world turmoil
(copyrisht 1881