The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, AUGUST 1, 1931. WORLD CONDITIONS.

Hokitika Guardian, 1 August 1931, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, AUGUST 1, 1931. WORLD CONDITIONS.

Whipf. attempting to broadcast cricket news on Thursday morning, atmospheric conditions were adverse for h time, and the studio resorted to music. Quite appropriately Elgar’s “Land of Hope and; 'Glory” was put on the air. This is akin in theme to Kipling’s “Recessional,’’ and seemed to fit the picture admirably particularly when it wa ; s revealed shortly after that the Motherland batsmen had risen superior to the occasion and had justifiedthe hopes of England, covering themselves with glory in so doing. These thoughts seemed to fit- with tlicP caote

news this week wherein Sir Arthur Balfour in a speech at Sheffield, commented on world trade. It was an interesting reference following the earlier cable news which suggested; that England’s finance might not he too strong because it had been found necessary to grapple with the gold balance to maintain the national credit. But Sir Arthur’s statement gave a new view to the situation, and showed that Britain was not lagging behind in trade, and that the volume resulting placed her, per capita, at the head of the nations. In the course of his speech Sir Arthur expressed the opinion that the American slump was the most momentous feature of the world’s troubles. He pointed out what will generally appear surprising, name. Iv, that America’s exports are falling and that Germany’s are rising, and that per capita of her population Brit- , ain is still the greatest exporting nation, her trade being £l2 15s a head compared with Germany, which ds £7 H)s fid, Era hep £(i 3s 2d, and the I’riited States £5 10s (Id. The two lattei' show a declining tendency. But One of the most Important facts that Sir Arthur Balfour emphasised was the wide gap that still exists between the wholesale and retail prices, for, while the former have fallen 20 per cent, the latter only show a decline of 5 per cent. “General world prosperity,” lie said, “cannot be realised till there is more reciprocal, international trading, while internally improvement is impossible till retail prices are co-ordin-ated -more equally with the abnormally cheap raw materials.” If trade is the basis of prosperity, then it appears Britain is in the best position of the nations to enjoy the favours to he derived. The place occupied by Britain, despite the draining effect of the war debt payments, and the ominous remarks at times about the financial drain going on generally, is extremely creditable and gives confidence as to the future, despite the pessimism expressed. Britain continues to be the world’s money or financial centre, which is a proof as it is a: tribute to tile nation’s solidarity. The readiness with which England went to the assistance of Germany in the late critical crisis, together with the well meaning gesture of the Prime Minister and his colleagues in visiting Berlin to support the position taken up at the London Seven Powers Conference, was not the action of a decaying Power. Bad and all as world conditions are it is clear tha Great Britain has recuperative powers in finance and trade of a high degree, and as her cricketers showed out so well in a stiff and serious beginning, so the nation will continue to plod along and liunimaih 11 position and record second to none. There is much in the hjstorv and record of Britain to be proud of, and jn these times of difficulty the nation continues to add to her prestige, and delight all who love the Motherland.