The Guardian And Evening Star, with which is incorporated the West Coast Times WEDNESDAY, APRIL 20, 1932. WAR DEBTS AND REPARATIONS.

Hokitika Guardian, 20 April 1932, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times WEDNESDAY, APRIL 20, 1932. WAR DEBTS AND REPARATIONS.

Though not an occupant of Ministerial office at the present time, bir Austen Chamberlain must still be recognised as one of the most dfs-

tinguishecl statesmen of the Empire. From this fact, says an exchange, is lent distinct linijpre&sireiiess to a strik(ing statement recently 'made. While the keynote of the statement is tile interdependence of the nations of the world—.“ Americans. Englishmen, Europeans are all citizens of the world’!*.' Sir Austen Ohnmbip'hiiii’s montage may he said to be addressed particularly to the United States. It reminds the Continental nations that it is necessary for them, as well as for Great Britain, to* put their respective houses in order. Sir Austen •Chamberlain is, it may be gathered, apprehensive concerning the situation in Germany. A collapse of tiie German financial structure would clearly produce reactions that would lie disastrously iar-i;eaching. and the warning which Sir Austen -issucis respecting the danger of selfishness and ultranationalism in public money may be regarded as reflecting a fear that certain of the creditors of Germany, and certain of the creditors of other European nations that are confronted with f-eriouis. problems at the present

time, may lie over-exacting in their demands. ‘‘ln less we stand together,” lie says, “we shall fall one after another into a common pit of misery and decay.” Pertinently ho asks whether the desire for agreement and co-operation i.s recognised in the United 'States as it is in Europe. Tn frankly outspoken terms, with the substance *of which there must he widespread agreement, he l says that there can he no cure for the economic evil that is afflicting the whole world unleiss war debts are dealt with simultaneously in the same spirit as reparation payments, the abolition of which is desired' by Americans as well as .by British people and Europeans. This appeal of Sir Auisten Chamberlain will strike a responsive chord in -the hearts of a great many American people. Most unfortunately the issue of war debts; cancellation is more or |,.»s a political ispne in the United States, and the mere fact that Mr A 1 Smith, a candidate once more for the Democratic nomination for the Presidency. hist week advocated the declaration of a moratorium in respect of war debts possibly as a prelude *o a cancellation of them—mnv tend to impart to the whole issue a more deep!v part : /-nn complexion that it has had i,a the passi. If Mi" pnoMf ion could .lie divorced from politics, it would lie possible to h'px’ful conce-niug the rfs'p"Uvc iu the United Stales to Sir Austen Chamberlain's appeal. For the perils that arc resident in the evisf- !■'(/ cri,«i>' are ‘"ipwiifed as fully l here as elsewhere. But “if. ,- s the Fronoieist eliser 1 cd rocenfiv, “the first apumneh to the worlds cc’iiiomie problems is obstructed by pelicii• ■cf 1 ‘lav ‘iml of ••"Insel to face Dot-.', liv i"V-isf(Mice on barn n ‘right's whit li canhe enloivcd. or hv aniui,'!,iti"s w' icli i ire ft i' reveir-e In (,oopei at lon, I'-re is m> immic :n Mm liands of 1 Mikci ' v hi( h will : ■save civilisation Imm de.st .ruction at the hands of if Govern meatlt 'e. jn tin* word's' ol the same paper, a V!,f a’ aaainst time that is being ten

“Pmioi.iuiM : a record of achievement in applied .science,'’ was the title of a lecture given by Sir John Cad man, chairman of the Anglu-Persian Oil Company, at the Royal Institution, London. He pointed out that if British turned to oil, their present work, which consumed r::,000,000 toils of coal a year, could be done on about 1,500,000 tons of oil. Discussing the relative merits of oil and coal, Sir John said that small steam engines rarely utilised more than 5 per cent, of the heat contained in their fuel. The output of tFie most efficient- steam engine was about 2() per cent. : A petrol engine had an efficiency of 25 per cent., and a compression ignition engine (Diesel) yielded 35 per cent. At some fiititre date an oil turbine might enable up. to obtain 60 to 70' net- cent, efficiency.' That time, however, 'wa!s not yet. The steam locomotive was' inherently inefficient. He expressed the hope that British manufacturers of compression ignition engines would seize their (opportunity. A great demand would arit-e for those engines, both at home and abroad, and British industry by its tradition of highly skilled workmanship is most qualified to satisfy tnat demand. If, in one respect, the use of compression ignition engines would restrict our export markets for coal, he concluded, in another it would stimulate ctffll consumption. Steel could .'not be manufactured' without coal, and every stage of engine manufacture required further consumption of that mineral. 11l tiie long run, therefore, we should be better off if we did all \vc could to foster the development and in«p, of the newest type of engine, rather than to continue the wasteful use of our own fuel resources.