CURRENT TOPICS.

Taranaki Daily News, Volume LIV, Issue 81, 26 September 1911, Page 4

CURRENT TOPICS.

WHERE GERMANY CAN" GO. It is said that one of the chief forces of Germany's aggressive foreign policyis her pressing necessity for securing opportunities for oversea expansion. When one begins to search the ,map for places in winch such expansion is to take place it is soon discovered that almast every corner of the globe has. already been partitioned, though not without Germany herself having acquired larjje slices. The moment one tries to find a pla.ee where Germany is to have new territory- in which to exercise -her colonial ambitions, one is brought up by the fact that, every corner is either already in the possession of some European Power, or that handing it over to Germany would arouse fears and anxieties in other Powers of the gravest kind. For example, the whole of the South American continent i* ruled out by the .Monroe doc-trine--a doctrine which Germany may call a "policy of dog in the manger, but which cannot be altered by Mich epithets. Germany may urge that a great part, of Spanish and Portuguese -Soiitii America is not- made proper use of by the present owners, and that she should be allowed to try her hand there. Hut such arguments have already proved,and will always prove, entirely unconvincing tt Washington. The idea of German expansion at the expense.of CJiina,'would raise quite as dangerous- complications. Xot only Russia and Japan, but also the I'nited States, to mention only three Powers, are determined. to, cry "Hands oil'!" There remains only Africa! Here are difficulties almost as great. People have no doubt talked at large of Germany relieving Belgium of the burden, or of a portion of the burden, of the Congo Free State. _ We have, however (says the London Spectator), seen no desire expressed on the part of Belgium to meet these suggestions, but rather the very strongest resolve to withstand them. Again, foolish and uniustriicted people have sometimes urged the. giving of Wall'isc-h Pay to Germany. But the moment, that suggestion is considered it will.be found inadmissible.' Even'if the. Mother Country desired it,"it would be met with an uncompromising veto by the South African I'liion. Every man in South 'Africa—Boer and Britonwould rise to negative the proposal. Por-. ttigal no doubt does not make any very great use of her African colonies' "but it would he -felt as an outrage-on international comity to plunder Portugal for the benefit of Germany merely because Portugal is weak. There remains either a portion of Morocco or some adjustment by France -of the boundaries' of her own-African colonics. Here no doubt a deal is possible.

EUROPE'S POWDEK MAOAZINE. The condition of tilings in the lialkan' States, the powder magazine of Europe, is by no menus satisfactory.- The situa-tion-in'Albania is almost, worse than it has ever been since the Turkish Empire jn 'Europe was fairly founded. Moslems 'and.'Christians alike are alienated from the Young Turks. Over a hundred thousand men from other regions are locked up in that province, ami its mountaineers, the finest fighting element in the Empire, will never again rally (or the committee as they marched for Abdul Humid. Little Montenegro is defiant, and prepared to face at, any cost, if events continue to develop ibid: present, a. struggle of life and death. Bulgaria is dour and watchful, flrecce, under M. Ycni/.elos, is gradually pulling herself together, and hates the Yo'mrg Turks with 'a very fixed apathy. The position of Crete remains anomalous, and no means of regularising the situation in that island is yet apparent. The policy of •yL'urkification" has failed disastrously, and never can by any possibility succeed. Albania, at least, ought to have been pacified at any cost by thorough measures of conciliation.' In Constantinople "nationalism" means anything but liberty" for those who are opposed to the existing system and its methods. While the Ottoman Empire needed nothing so much as assured peace for a number of creative years, the Young Turks have beefl hypnotised by the ideal of force; and by comparison villi the improvement of army organisation—an object most laudable in itself —all other constructive improvements have been neglected. Worst, of all. the members of the Committee of Union anil Progress think that all criticism means hostility, even when it conies from those who have been their honest well-wishers. Their position would be infinitely more promising today if I hey had been more steadfast in their friendship for England, and if thev had paid a little more heed to the advice which their best friends in Kngland ' have given them from the beginning.

MONEY MARKET. There is very little alteration apparent in linancial conditions generally. Evidence is apparent that there is a good supply of money available for investment where good sound security is offering, and lending rates continue favorable. We aire now practically at the end of our produce export year, and the various returns which will lie available, next month will be looked for with more than passing interest, owing to the movements which havi' been going on recently in our imports and exports. As far as can be seen -at, present, our exports will be approximately two millions behind the previous sea-on, while., on the other bind, our imports continue to grow steadily. A year ago the excess of exports over imports was close on six millions, while for the year to SOtli .Mine last the excess was some two and a half millions, and the continued decline in exports makes it -appear that this balance will be reduced at the close of the current quarter. It is impossible to arrive at an exact balance in these things, owing to the effect of loan money coming in in the form of goods, but from the very high total reached by our imports it would appear that a measure of caution is advisable on the part »f our importers.—' Trade Review.