The Guardian And Evening Star, with which is in corporated the West Coast Times. SATURDAY, JANUARY 23rd. 1920. WORLD TRADE.

Hokitika Guardian, 23 January 1926, Page 2

The Guardian And Evening Star, with which is in corporated the West Coast Times. SATURDAY, JANUARY 23rd. 1920. WORLD TRADE.

WitniNc 'in the subject ni world Undo billowing tlio :ilieini:itli of tlic Wiir, . .Now V.oili financial jo 11 Mi id remarked Unit the Allied world on Armistice Day anniversary, ceased lor a moment or two its daily occupations as a mark of reverence to I hose who had lallen in the (Ireal Conlliet. ended seven years previously. This observance, in remembrance of fallen heroes and others who suffered from the tragedy of war, is a custom that will be carried out for unnumbered years in the future. It is a graceful and beautiful tribute; its lesson will influence peace. It well may be called International Memorial Day. Armistice Day is a 1 time for contemplation. Beyond

doubt the thinking element among those who reverently paused from usual occupations, compared the present with the recent past, and perhaps the question arose involuntarily: ‘‘How far and to what extent lias the world recovered its re-war equilibrium?’’ The answer is difficult, hut in a material way there is satisfaction in noting that so far as international trade is eoncerned, the nations of the world have reached nearly a normal basis. Ail estimate by the National Foreign Trade Council based on a study of figures over the last fiscal year is that the proportionate recovery of fifteen principal exporting countries, including the United States, is within five per cent, of the 1913 volume of trade. It should he stated, however, that the most favoured nation in the world.

the United States, makes this figure possible. America has registered a thirty per rent, advance in real trade. Excluding this, the present deficit on the part of other nations is about eleven per cent, from their standing in 1013. These calculations are after allowance has been made for all deflations. and after all figures have been reduced to 1023 values. “If the world’s growth in real trade continues.” the statement continues, “it is due to reach very close to 1013 figures at the end of the present year, and by the end of the next fiscal year should show a small surplus. More than twelve years will thus have elapsed since the outbreak of the war in 1014 before the world can be assured of having made up the loss it has suffered in the real value of international trade.” There is a basis of encouragement in the facts revealed above, and while there is reason to l>e thankful that the losses due to war have been partially, and in some cases, wholly neutralized, it is well to remember that 1013 is the year of comparison, and that this is 1023. To say that

twelve years of progress have been dissipated or wiped out by the war, may be putting the case in a too j>ossimis tic manner. But that is what the figures actually show. To speculate on the conditions of a 1025 world unhampered by intervening war. is of course useless. That the world without the War would have been better off industrially and in all other respects is admitted. That situation does not exist. Still there is abundant reason for thankfulness that ci\ ilisation s greatest and deepest scar has been so appreciably and successfully healed. The future is brighter in consequence.