Wairarapa Times-Age MONDAY, APRIL 10, 1939. BRITAIN’S SOUND POSITION.

Wairarapa Times-Age, 10 April 1939, Page 4

Wairarapa Times-Age MONDAY, APRIL 10, 1939. BRITAIN’S SOUND POSITION.

TT is an accepted fact in these modern days of preparing armaments for war purposes that the country with the wealth behind it has the best chance of finally becoming victorious. One time it was the numerical strength of an army which chiefly counted; now the power to produce guns and material for the destruction of human life plays the greater part in. ultimate victory, always providing that there is a sufficient man power to make good use of them. Italy and Germany have a liking for window dressing in the matter of the strength of their armies and air forces and the finance which they possess to support their armies, navies and air forces. Britain, on the other hand, devotes little time to selfadvertisement. She never boasts of her wealth, but her strength in this connection is demonstrated very emphatically when one considers the expenditure which is contemplated during the next year on armaments—a mere £580,000,000. On one occasion Archimedes, the most famous mathematician of antiquity, said: “If I could find one immovable point I could move worlds.” There may be no immovable points in the British social system, but there are certain very solid elements in its make-up which must inspire confidence. In the annual reports of the British banks for the past year there is no attempt to paint a rosy picture of British finance or that of the world as a whole. It was pointed out by the chairmen of these banks that though internal trade in Britain had been better than was expected, that the depression of 1936 had not developed into a. general slump, and that the United States trade agreement was likely to produce favourable results, there had been a general falling off in trade and particularly a decrease in British exports. The bankers made no attempt to hide the position, most of which, they said, was due to the international unrest, combined with the wars in Spain and China. But despite the riding conditions British banking and finance have remained steady, with the country paying its taxes, preserving its currency and generally Jiving within its means. The credit of Britain is good and it can stand the tremendous expenditure on armaments better than any other country. Britain is in such a position that she can face a crisis of the greatest magnitude with feelings of confidence. The calmness of the British people and their habit of selfcriticism are often misunderstood by foreign nations. Britain does not advertise her strength, but her reserve power is something which no nation can afford to overlook when contemplating a plunge into war.