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THE CHINA MAIL, FEBRUARY 9, 1937.
The China Mail
Ninety-first Year of Publication.
3A Wyndham Street, Hong Kong Telephone 20022. London Office:
peak from which Britai ped into the whirlpool.
The revival which is thus re- flected is accepted as having been due in large part to the building boom. That is now as- suming a new form with the
7, Garrick Street, London, W.C.2. falling off in the rate of increase
in house-building and the ac- Notice To Contributors.
celeration of industrial building, All communications intended for of which the new munition fac- publication should be addressed to tories are a type. As an article
in the Editor, and de accompanied by the Marketing Survey the Writer's Name and Address brings out, the disparities in the not necessarily for insertion, but building activity of the fast three years throw light on the as a guarantee of good faith
inequalities of British recovery. Last year Outer London, the South-eastern Counties, and the West Midlands, with less than 40 per cent of the population of Great Britain, shared 56 per cent of the new domestic, build- ing and 66 per cent. of new in- dustrial and commercial build- ing. Lancashire and Cheshire,
One
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Months
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x
Hong Kong, Tuesday, February 9, 1937-Yorkshire and Scotland, with
BRITAIN ARMING TO PROSPERITY
❖-
nearly 44 per cent. of the popu- lation, shared only 30 per cent. of the house-building and 22 per cent of the industrial and com- mercial building. In the de Britain to-day is enjoying indus- pressed areas, building was not trial prosperity unequalled in his in a state of "boom" at all. This history, despite the persistence inequality is only an aspect of of a large volume of unemploy the economic trend towards the ment. More people are employ- South, and it may be wondered whether when house-building by ed than ever before, iron and
private enterprise does fall off steel output is the greatest ever, and the same story continues more seriously the labour sur- right on practically through the plus created will be fully taken entire sphere of private enter-up on the spot by the increase in industrial building and by the prise.
demand for labour in other in- What is less satisfactory is 'dustries. The movement of the abundant evidence of the migration may set again to artificiality of the boom, stress-wards the industries of the ed by Mr. Neville Chamberlain North, which the armament de- last week when he urged manu-mand is stimulating. facturers to strive harder for
foreign markets and not to rest content because the armaments Indestructible Legends impetus had boosted orders.⠀
A member of the British Gov- The influence of the rearma-ernment who happens also to be ment programme is already a Scot has been trying to slay broadening. The demands for the Goliath of a legend that he labour will steadily grow, the spends his spare time playing rise in wages, which despite the the bagpipes.
rapid rise reported has so far
A
even
barely caught up with the re- Apparently he has not ductions of the depression, is al handled those instruments of most certain tô c continue, and patriotic torture. Being a wise labour's case will be strengthen-man, he saves his breath for ed by rising prices. We may more useful purposes. begin to see the “vicious spiral": Still, there the legend is, and of the war and post-war years at if he thinks he has now killed it, work. This phase of the boom, he must be an urmusually however, lies in the future. Most of the end-of-the-year messages him to the end of his life,
credulous person. It will pursue in which industrialists are be his obituary notices (which it is and in coming so prolific are couched in to be hoped will not appear for terms of almost unqualified hope another fifty years at least) it and assurance. Fears of inter-will have a prominent place. national catastrophe were never
greater; yet the individual busi- It is just such a fiction as this ness man, "touching wood" and that the writers of obituaries postulating peace as the only like to get hold of to provide a safe working rule, is distinctly little light relief to a rather optimistic and can afford to be gloomy occasion.
The income of the United States or 1936, the Secretary for Commerce has announced, was for the first time since 1929 equal to expenditure; American purchasing power is rising rapid- ly and exercising an enormous influence throughout the world generally.
WORRIED MP's
group of MPs have been getting rather perturbed about the Household Cavalry. They think they should at least be better paid than the ordinary soldier because their expenses are higher.
sit on
In Britain, according to inter esting calculations by Mr. Colin Besides, it isn't every soldier in the Clark in the new Marketing British Army who has to Survey of the United Kingdom" horse-back in Whitehalf and listen to the curious observations of spectators, the expenditure of the well-to-de- itz has increased in the last four
ears from £1,300,000,000 to the MP3 har told Mr. Duff £1,600,000,000 and of the work Household
Cooper, the
asses from £2,200,000,000 including £2,600,000,000. The national more fo
Incom
well above the
vious high record of 1929, the