The Dominion. FRIDAY, FEBRUARY 1, 1935. AN IMPEDIMENT TO RECOVERY

Dominion, Volume 28, Issue 109, 1 February 1935, Page 10

The Dominion. FRIDAY, FEBRUARY 1, 1935. AN IMPEDIMENT TO RECOVERY

That there has been encouraging progress toward recovery both in this country and in other parts of the Empire is a fact beyond- dispute. That it is just possible that this movement may continue to a certain point, and then stop, is a contingency that may not have occurred to those who profess to see in the upward swing of events a momentum that might well carry it to the level of the peak yeais befoie tic pression. This optimism would be justified were it not for the persistence of an impediment to world recovery on the other side of the world. This impediment is so real and so serious that its existence should never be overlooked, for upon its removal or continuance depends to a degree perhaps not sufficiently realised the future blessings or evils of civilisation. It is concisely stated by Mr. Rupert Beckett in a speech at the annual meeting of the Westminster Bank, repoitei t 0 ' The past year (he said) has shown how’inadequate is domestic trade beyond a certain point to effect a reallj dia.ticl duetion in the formidable total of unemployed. - AA e aie lone 1 therefore to look to export trade, by which alone can be presete the structure we have reared. There is no sign.of any lelaxat on . the strangling grip of restrictions in all their varjing forms tariffs, quotas, import licenses and the like. As was generally expected, this country has visibly benefited from Britain’s recovery, and may continue to do so as long as tna_ upward movement continues. But essential to that is a steady expansion of Britain’s export trade, at present impeded by foreign tant barriers. This impediment is one of the major problems or Lu .m--statesmanship, and the only solution seems to lie in a choice -between creating a new temper in Europe, which*will result m a comprehensive review and modification of tariff policies, and a new Imperial system, of trade development on broad reciprocal lines, which will make the British Commonwealth of Nations completely independent of foreign trade barriers. Each involves a task of great difficulty, and the latter especially is a long-term job. Each has poweifu a< yocates in England, and some time may elapse before that count! y s statesmen see the light. , , In the meantime it should in fairness be remembered that wlme our own leaders can do, and admittedly are doing,yt great deal to promote domestic recovery, they are not in a position to influence European policy. They may be successful up to a point, but beyond that, it must be clear to all who think seriously about our affaus, progress will depend upon the march of events overseas. Let us beware, then, of those political charlatans who proclaim from the housetops their ability to abolish unemployment altogether and usher in an era of golden prosperity with a wave of a wand. I his country is no a community politically and economically isolated from the rest ot the world. It is part of the British Commonwealth system, the central nation of which, economically, is part of a world system. . Ihe welfaie of the unit is as the'welfare of the whole. Here in this country we can do no more than make the best of opportunities as they present ' themselves, building our hopes at the same time on the continued recovery of Britain through the rehabilitation of those countries upon whose well-being she relies for the expansion of her export trade.