HERE AND THERE

Hokitika Guardian, 9 April 1932, Page 6

HERE AND THERE

OPINIONS FROM OVERSEAS,

’RESENT DAY TOPICS REVIEWED

“I would establish normal relations with the Russian Government. In doing so l would not assume I was endorsing the communistic theory ; in doing so I would not endorse theii method of carrying on their go veinment; in doing so !• wpuld have ?°i fear of their teachings or their propaganda undermining American citizenship. IF fofuld believe that as Russia is there, with her 150,000,000 people, occupying one-sixth of the earth’s surface, that we have got to; deal with her, and that it is better, to deal with her in that way than in the abnormal and extraordinary way which leads to abnormal and extraordinary policies.”—Senator Borah (U.S.A.)

PARTNERSHIP IN INDUSTRY. “No industry need worry unduly about its inability to compete for foreign trade when it cannot agree upon the terms that would enablegoods to be produced. The real trouble lies at home. Trade can be developed mid proper! tv ..secured, only by means of an agreed adjusted division of the product of labour. Nothing can be fairer, no remedy cap be simpler, or can give such, immediate and satisfactory results. In point of fact, ifis the only remedy if industrialism is to live a s an independent form of of activity. The time may uot be ripe for a general acceptance of our proposals for a partnership in industry, but if there ever was a time when the acceptance of the underlying principle would lie a godsend, to the country, it is now. In any case, an agreement to reach the correct adjustment of wages—a s the correct division of the product of labour—is virtually the whole point in a partnership between workers and employers. ’--From “The Road to Prosperity: Unemployment, its Cause and Cure, by Mi Percv Wallis and Mr Arthur Redfern.

the -Much-abused pound. “What i s the pound note’if it does not represent an obligation in gold?to a great many people—members of Parliament, publicists j - ; bankers; etc., and I am bound to say I have never received a very intelligible reply. The usual answer is that the pound note represents the credit ot the Bank of England, or the credit of the Treasury, or "tlie credit of the country. But when 1 have pressed the matter further explanation or analysis has. tailed. Credit? Good! But credit to do what? Credit is quite unintellijgible.. if it does not represent some'" obligation. One might be as rich as Croesus, but if one were to issue bonds binding oneself to ‘do something ’ on their presentation, I am afraid that the credit of these bonds ..jyqqUL be • 11 '.!■•• Unfortunate as was Job in his counsellors, I have dismissed them, and I |nive tried to find my own solution. It iii.iv lie quite unsound, and, if sound,’it is doubtless familiar to economists, but it is certainly not generally understood and this is my apology for advancing it.”—Lord Sands'in a letter to the “Scotsman.”

SAYING BUILDING COSTS. “It is well-known that our steel construction methods are far too strong. In order to cut down with safety that margin of wasted strength it is necessary 0 to study such things as strains and stresses, the effect of wind pressure, floor pressure, sunshine expansion and the resistance of welded joints. Science is so far incapable of devising a method of testing the strength of welded joints. It is necessary to break hundreds of joints experimentally to arrive at some estimate of their strength.. If we can cut down tlie amount of steel used in single buildings it will be cheaper and will therefore be used in more buildings. This in turn will have a valuable economic effect in cutting down the importations <>f timber from abroad.” —Sir Frank Smith. Secretary of the Department of Industrial and Scientific Research.

A PLEA FOR THE FARMER. “T do not- deny that there is inefficiency among farmers, hut there are very few inefficient farmers who have weathered the storm during the last ten years. Those who are left standing, you can take it from me are not inefficient farmers. They are very efficient farmers, with hearts of iron, to havo stood up to tiit* strain and the terrible foreign competition with which We have had to contend during thff. last ton years. Do lion, members suppose that it is any joy to a farmer 10, see his land needing fertilisers, to see, himself need fug new implements, and to know that he hay not the capital resources to provide those tilings i H is no joy to the farmer to sec Imiisffi! not aide to produce ns much to the acre us he could if he could afford the fertilisers. Much of the inefficient, funning to-day is due to lack ot capital. Wherever you go. from the North of England to the South, you must he convinced, if you understand agriculture, as you look upon the given fields and upon the crops, that the ground is crying out for fertilisers mill for lime.” -.Mrs Ward. M l’., in the House of ('ominous.

MORTAL E PRINCIPLES “The kev to the situation lies in the mortgage department, and particularly mi the lines embodied ill the co-opera-

tion i proposals. Every new valuation should be ultra-conservative; the personal convenant, and in particular the capacity to maintain repayments, should he the subject of the strictest, inquiry; whether an advance is supported by collateral security or not, there should be absolute insistence upon a substantial personal stake lodged in cash by the prospective borrowers. We should show ourselves bereft of statesmanship if we did not one and all make this occasion for ~ very determined effort to get back to the old and safer standards of helping only those who are able to help themselves.” —Mr Harold Bellman, at a meeting of the Midland Association of Building Societies in Birmingham.

EVER CUMRING. “It is said that England is already our population bv two millions, would fme be then employed? Only "if the two millions removed were iinemoloyable would this he the case,” writes Sir Arthur Keith jn the “Sunday Express';” “Fifty years ago, as I remember, the men of a city in Scotland were aghast when its population numbered dO.()()(). That city lias more than doubled its population since then, and there are fewer unemployed in it now than there were in my youth. As that city stands to Scotland. England stands to the rest of the world. As long as we an* willing to do a full day’s work and have eonlidenee in each other and maintain a growing population we are still mi the ascent of our Wave of national life.”