BRITAIN'S LOSS.

Auckland Star, Volume LXXI, Issue 227, 24 September 1940, Page 7

BRITAIN'S LOSS.

EASILY EXAGGERATED Damage To National Resources Of Country. United Press Association. — Copyright. (Reed. 2 p.m.) LONDON, Sept. 23. The distinguished British economist, Mr. John Maynard Keynes, broadcasting, said: "It is easy to exaggerate the damage to the national resources of Britain so far suffered. "We have lost 1,500,000 tons of shipping, but this lose in one year is no greater than our normal capacity to build I ships. i "In losses of property by bombs, the case is no worse. The total damage before the end of July could be made up in a couple of days by the country's peacetime building capacity. Damage in August was much more considerable, but could be made up within a month. "The heavy destruction in London in the paet three weeks is not yet accurately estimated, but London is a big place and there can be a mighty power of destruction before building properties in Britain are seriously touched. "A million pounds' worth of destruction is a frightful sight, but if we suffered such.damage nightly for a year we should not lose more than 4 per cent of our buildings and contents, or more than could be restored in a couple of yeare."