Evening star., 1947-03-02
Has Britain Enough Power to Pull Through?
By Lothrob Stoddard

ton of England proper with Wales)
was probably not over 5000, 900, while
Scotland (then an independent
kingdom) had only about 100000
inhabitants. And, of course, those
scanty totals represented all the
people whom the then-existing con-
ditions could support.
The reign of Elizabeth, coinciding
with the gaining of seapower over
Spain, opened that great epoch of
maritime trade and colonization
which brought Britain wealth and
prosperity hitherto undreamed-of
This acquired capital, in turn, made
possible the astounding develop
'ment of industry when the invention
of the steam engine, in the last
quarter. of the 18th century, en-
abled Britain to exploit it's one
major natural resource-coal. The
close Of the Napoleonic wars saw
Britain emerge not only mistress
OF the seas but also with a su-
premacy in large-scale industry,
trade, and finance that was not
seriously challenged until the OPEN
ing of the present century. For
approximately a hundged years,
Britain was the worlds workshop,
banker trad and investor.
rms Whils II Lastsa.
Besides It's own vast empire,
Britain developsd many other
lands. The aBoutiltul United States
was financed largely by British
capital, while Argentina has been
almost British economic colony
down to our own days. The cumu-
lative profits from all this were
tremendous. They facilitated that
mass-interchange OF. raw materials
for its machines and foodstuffs for
it's people that raised Britain's
population from 5000, 900 at the close
of the 18th century to around
46,0O0,000 at the present time.
This was all very fine while it
lasted. But Britain was thereby
becoming more and more dependent
on a situation which was basically
as complexly artificial as it was
unprecedented. If ever this eco
nomic -eminence should be lost,
how could all those millions Of peo-
pie be fed and how could the huge
industrial plant be assured the
equally vital imported raw mate
rials? Britain did not have the
land to grow its food even with the
most improved agriculture, while
coal was its only big natural re-
source. And, as time passed, the
richest coal seams were worked out.
Britain's industrial primacy began
to be effectively challenged around
the turn Of the century. American
factories were outgrowing their
home market, while Germany start
ed stiff competition, alike in goods,
trading, and shipping. Even its own
Dominions went into the industrial
game instead of just exporting raw
materials for British manufactures.
And nearly all these new competitors
protected their infant industries"
with tariffs which British products
often found hard to scale.
War Hurt Merchant Marine.
Britain found it difficult to meet
much of this new competition. A
century of industrial pre-eminence
had led to routine methods; much of
its plant was antiquated, while a
vigorous labor movement raised
wages and lessened profits. All this
caused heart-searching and even
some pessimfsm. That was when the
query was first raised: "Is England
done?"
OF course, England was far from
being "done." It had just lost bit
of its former economic ledge" and
was being put on its mettle. The
situation would probably have evolv-
ed satisfactorily if it had not been
for World War I, which came in
1914. Britain's losses in wealth and
manpoWer were tremendous. A
large part of its merchant marine
was lost in the U-boat warfare,
while some of its vast portfolio OF
foreign investments had to be iqui-
dated The United States emerged
as the richest and most efficient in
dustrial power. Even defeated Ger
many staged a partial comeback.
The whole economic situation had,
for Britain, become harder and
more difficult. Still, its amassed
wealth, financial strength, and null
tifarious acquired advantages re-
manned so great that it stood in no
immediate danger.
World War II was incomparably
more disastrous for Britain than its
predecessors. The mass of capital
built up over four centuries was
mostly dissipated. It's foreign in
vestments were largely liquidated,
while many of it's former debtors
became heavy creditors. It's ship
ping was again devastated By the
y
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