ECONOMIC RESOURCES

Wairarapa Times-Age, 25 September 1940, Page 7

ECONOMIC RESOURCES

BRITAIN’S STRONG POSITION. MR J. M. KEYNES'S SURVEY. (By Telegraph—Press Association—Copyright) LONDON, September 23. Mr J. M. Keynes, the English economist. said in a broadcast: "It is easy to exaggerate the damage the national resources of Britain have so far suffered. We have lost 1,500,000 tons of shipping, but this loss in one year is no greater than our normal yearly capacity to build ships. "Tn losses of property by bombs our case is no worse. The total damage before the end of July could be made up in a couple of days by the country’s peacetime building capacity. The damage in August was much more considerable, but could be made up within a month. "The heavy destruction in London in the past three weeks has not yet been estimated accurately, but London is a big place and there can be a mighty power of destruction before building properties in Britain are seriously touched. A million pounds' worth of destruction is a frightful sight, but if we suffered such damage nightly for a year we should not lose more than 4 per cent of our buildings and their contents or more than could be restored in a couple of years.”