"QUBEJONOMIC POLICY.
LESSONS OF THE WAR.
APRECHES BY THE PREMIER AND
CHANCELLOR,
The deputation, which was convened at
Manufacturers, was introduced by Bir Edward Carson and Mr. George Terrell Bir Edward Carson drew attention to the resolutions recently passed by the union Bir Vincent Caillard, Sir William Pearce M.P. and Mr. Arthur Beck spoke in support of the resolutions.
ME LLOYD GEORGE.
AFTER-WAR DIFFICULTIES,
THE HONGKONG DAILY PRERE, THURSDAY
come right at once, and if you dissolve partnersalp with all these great peoples * partnersnip cemented wish blood-thera will be men quite, ready to take advan
age of in aven when the war is over. Therefore it is vital that when the war i over, and when the transition period as come, when there will not be enough to go round, we must keep the partner ship going and help each other to us end, so that the brotherhood shall remain (Cheers.)As
There is the other point which I want to put to you with regard to transport Because there again, you might have shipowner I do not say that there are shipowners like it--who could get
MR. DONAR LAW.
(Chicera) During the war we have an doubtedly discovered that there were in dustries in this country that were a tial not merely from the commercial point of view, but from the point of view of national defence and security. Under no conditions, and whatever it cost Mr. Lloyd George and the Chancellor should we let those industries down in of the Exchequer were invited recently the future, (Hear, bear.) There, I think we ought to have the most complete agree” by a deputation of" scene 200 heads ofment, and I do not doubt for a moment manufacturing firms to make a declara that you will get it. The best method of securing those industries against unfair tion as to the future economic policy of attack, against unfair competition, the best way in which you can secure their Great Britain
development and secure that they shall go Sabe-instance of the National Union & on growing and increasing with a view double or treble freight for carrying | to the strengthening of the country, is a
or what is fair for him to exact for carry-“”“ matter which will require the very deep enemy country to what is offered at consideration, and it is a considera ing to Great Britain, or to sho Domin- tion which no Government could pos sibly avoid "giving to it at the earliest 10, or to the Allies. I am in general agreement with the principles which have been laid down. But do not hitch on to possible moment.
past controversies. Let us consider our There are two or three things which problems anew.. am sure it is the best. I should like to say upon that parti-way of proceeding. It is the only way cular problem. The longer the war lasts in which we can secure absolute moto the sterner must be the economic terms unity. And when the Government come we impose on the foe. (Cheers.) And I to make their statement I shall be very Mr. Lloyd George, who was received think the sooner he realises that the surprised if you are not quite satisfied with cheers, said: My colleague and 1 better. He is fighting in order to impose with the statement made. But before we his own economic terms apon the Allies can make it we have to get into closer contact with our Allies, and to see, first are vary pleased to have an opportunity He will never succeed in doing so.
As far B.S that is con- of all, that there is no declaration that of meeting so influential a "representation (Cheers.) of some of the greatest industries in this cerned, we must be in a position to will in the least interfere with the cou determine the conditions which we record and good will and co-operation country, because, before the Government gard as fair, without having them im- which have existed between as and cur announces its policy upon these grave posed upon us by the will of the enemy Allies. But you can be assured of this matters which affect the future of this and it be goes on fighting, imposing It will be a chief concern of this Govern. greater burdens apon us, destroying our ment to see that the great industries land, it is essential that we should makeyoung manhood, and guilty also of out upon which the strength of this country ourselves acquinted with the views of the rages which shock bumanity and which depends shall be developed and streng- practical men who are connected with make it difficult to shake hands with him thened, (Cheers.) A our great industries. If we have not when the war la aver, the sterner will
The Chancellor of the Exchequer Mr. made any announcement up to the pre-I be the terms that will be imposed upon
Prime Minister, when you naked me to sent, nor sought more frequent opportu him. (Cheers.):
Mr. Beck in bis eloquent speech re nities of consultation, believe me it is not because we do not realise the import-ferred to the condition, immediately after come with you I was very glad indeed to ance of these matters. It is that our the declaration of peace. I agree with do so. The difficulty I have in address time is absorbed with much more terrible him that it will be a time of dislocation ing an audience like this is not what I and much more immediate problems. of industry.There is a stream flowing in say but in what I refrain from saying. one direction which you will have to divert and myself very much in agreement We have cast upon us, as a primary duty, the winning of this terrible war. (Hear, into another, and I have no doubt that with most of what has been said this hear.) And, more especially since March there will be a good deal of confusion, afternoon. I should, however, like to say sist, the whole of my time and the time that will be a time when all the organis word only about the problem that was I was myself long that my right honourable friend can ing capacity of the nation and all its referred to by the Prime Minister, and spare from Parliament has been devoted individual strength will be required in that is of control. to the gigantic task of defeating the most order to prevent something which is enough in business to know that there in formidable attack that our foes have ever worse than confusion. A fact of much im- nothing a man who is running bis own launched against us, and we are on the portance is that there will be arrears of business hates so much as unnecessary way to completely baffle it. (Cheers.) work which it will take us years to make interference from anybody And I can as a whole is anxious at the earliest pon That does not mean that we have not been up, even in manufacture. A great dif-assure you of this, that the Government able to give a good deal of attention in ficulty will be raw material, where to the past to the problems which you, Sir get it and how to get it. Another dif-sible moment to get rid of the restric Edward Carson, hare placed before us Bculty will be transport; and you will to-day, and not to-day for the Erst time, and that during the first years of peace because, if I may reveal Cabinet secrets, these will be difficulties that will require you even placed them before us when you special consideration of a totally dif- were a member of the Government. ferent character even from that which There are two considerations, at least has been predicted in the very able that delay declarations on the part of speeches which have been delivered here the Government as to their final views to-day. Those questions will demand the First of all, there is the one which I men. most careful consideration. You will re tioned, that our time has been absorbed, quire the most complete understanding especially during the last few months, by with our Allies and a complete under- the demands of the great battle. The standing with our Dominions, because it second is that we must necessarily, in is most important that you should carry whatever policy we proclaim, keep in along with you the people who have con- touch and be in complete accord, fret of tributed with you to the common sacfi- all, with our Dominions, and secondly, fees. with our Allies. (Hear, bear.) There is a good deal of discussion about a League of Nations, and I am certainly one of those who believe in it. But there are two Leagues of Nations which are Already in existance; the first is the British Empire. and the second is the Great Alliance against the Central Powers. And whatever decision we some to must be one in which we can march hand in hand and side by side with those two great Lengues of Nations of which We are members.
AMERICA AND PARIS ENSOLUTIONS.
I
tions which the war has made necessary. and to allow individual competition to have the free play which has made our commercial community 10 great. But it is quite obvious to you-I am not going into the reason why--that perfect free dom at the end of the war is impossible. Most of you know what a corner is, Wa shall be vitally dependent on raw mate rials as the first essential of reconstitute ing our industry, and if free play were allowed there I am greatly mistaken if you would not find that a corner, or ganised perhaps by our old enemies, had rials that are essential for industry... arisen in almost all the staple raw mate That has got to be guarded against. But with that qualification I can assure yon that the Government wish to get rid of
we Governmental control as quickly as poss sible.
i
VOFF OF CREDIT CHANCELLOR'S STATEMENT.
ALLIES INDEBTEDNESS.
Mr. Bonar Law made the following. points in the House of Commons when moving & Vote of Credit on August ist.
for £700,000,000:
There will be another vote of credit în the autumn aersion, and one between the meeting of Parliament and March 31st, 1979. ==
5.
The last vote, on June 18th, will carry us well into the first week in September.
From the beginning of this financial- year up to July 13th the actual expedi- ture was under £724,000,000 or 2) millions less than the estimate,
There has been under-spending to the extent of 213 millions in the Army, Navy, Munitions, and Air Service.
Ten millions of this refers to merchant shipbuilding matter for anxiety.
The number of submarines destroyed is far greater than at any earlier period.
The world's shipping is being produced more rapidly than it is being simk
The Cabinet are taking steps to have the whole position completely gone into
Nothing will be left undone by the Gor ernment to restore the position of var merchant shipping.
There is an increased expenditure of £8,000,000 on the Army
Loans to Allies and the Dominions were 222,700,000 less than was expected.
The debt due to us by the Dominious is £208,500,000, by Russia £588,000,000 by France £402,000,000, by Italy £313,000,000, by Belgium, Serbia, and Greeco £119,000,000.
The expenditure in miscellaneous ser- vices has increased by E44,000.000
The actual deadweight expenditure. was £847,000,000, being £34,500,000, or We hope to be able to increase the £331,000 per day, under the estimate stocks of food throughout the whole of this year.
Borrowing in connection, with National War Bonds has far exceeded my expecta tions
The loan of January, 1917, was more successful than any that has taken place in the world.
Between January 1st and September octa, 1917, the amount of money received was from War Bonds £948,000,000, War Savings Certificates £50,350,000,- Ex- chequer Bonds £53,110,000 a total of St.661.118,000.
In the succeeding, nine months there was contributed in Wer Bonds
£917,430.000, and in War Savings Certi
applications Jor about fentes £75,930,600, and in addition thers. have been £35,000,000 of War Savings Certificates.
The Prime Minister: Except over the Germans. Anthony
That is one of the observations T would make in regard to the question of Gor- ernment interference after the war. No one ever dreams of continuing the present system of control after the war. agree with my friend, Sir William Pearce, that the strength of this country has been very largely in the ingenuity, the self- reliance, the adaptability and there. source which come from individual effort, All the same; do not let us despise what the German has won from combination, and in the future, although I do not in the least deprecate the individuality which has come out of the old British We have been discuming tita problem methods, there is a lessen of the war he was a wrong in in the course of the last few weeks with which even the Germans have taught us. the Dominions, and we had discussions in the effect of the assistance of State with our Allies before America came in action, of State help, of State encourage ment, of State promotion, and of com- in 1916. The Paris resolutions were arrived at in 1916. Up to the present bined effort amongst those who are time America has expressed no opinion engaged in all the industries of the upon the Paris resolutions, and it is country. Let us learn our lessons wher vitally important that the policy of ever they come from, even from the America and the policy of this country Germans. (Cheers.) But no one would should be in complete agreement on ever dream of continuing the present economic problems as well as on other system of rigid meticulous interference problems (Cheers.) All I am permitted which is essential in a war. War, if it is to be victorious, must be waged by a to say at the present moment is that I am very hopeful, because agreement disciplined nation; and disciplined amongst the Allies on these great prob-nation must mean interference. You tear lems means that the economic fate of the man out of his business he may be the world will be in the hands of the great only one who is conducting it and you Allied Powers who are federated together send him away at 18. 7d., or whatever at present. (Cheers.) Now, gentlemen, it is, a day, to a trench in France. That "SOMETHING MORE DEFINITE."! ~"
Now I have no doubt you would like subject to those limitations, I propose to is interfering with a man's business. make a few observations on the three or The war is essentially interfering with
what the Prime Minister has said four questions which you raised, Sir business at every turn and you cannot to get something more definite than Edward But before I do so, may I very avoid it. And let me say this magni-Laughter.) I have no doubt of that respectfully say that the less we talk of ficently na the busines and industrial I am sorry to say you are not the theories of the past and the more we community of this country has shown its going to get it from me. (Laughter.) duty not imposed for the sake of deal with the arealities and the needs of capacity to organise itself for war-and But there are some things which he has the present, the better the national pro there has been nothing comparable to it gress we shall make (Cheers) I will in the whole history of the world I quite sell you why. In the war we have been a agree that when the war is over all the united people in defending the Empire. constant interference which may be I want us to be a united people again absolutely essential now in order to in the reconstruction of the Empire direct and to concentrate the whole (Hess, hear.) And more than that strength of the nation upon the There is nothing which you have said must disappear to-day that would lead me to believe that there are any insuperable difficulties in our continuing united,
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Tre Chanceller- of the Exchequer: Over anybody at home. What we wish is to find for the welfare of the country carried see the things that we believe are essen- Ae regards the other question, I entire out (Hear, hear.) That is what we ly agree with the Prime Minister that we want Certainly the way to do that is to har to look at this from the new condi- get the largest possible amount of unity tions which the war has created, and if support of any plan which we propose posible we have got to carry the country to adopt. I have said that we have in the direction we wish it to go, by adopted Preference. The Prime Minister making it realise what the lessons are has said to you that the essential. key which the war has taught us in this industries must be preserved, and there direction. Nobody likes to be told, when is something else which he implied, I he is taking a particular line of policy, taink, and it is this. If these conditions and are to maintained. I shall that those who were teaching him were be greatly astonished if we do not find right; that would be very foolish, and it that the great bulk of our countrymen, would not be true. We have all had whatever their views were before, do re- lessons in the war, and one of the lessons cognise that there must be some stability -I do not think it was necessary to at least in our home market-there must teach our party, but it was a lesson which be some stability in it. Well, gentlemen, had to be taught to some people that these are the things you are here to urge Great Britain (es not consist only of upon us, are they not? (Cheers.) The the people who are well-to-do. One of Prime Minister has promised that a state- the lessons of this war, which I am glad ment will be made. It is quite obvious to see that you all realise, is that you that the difficulty in coming to a decision hate to think, not only of the profits on these problems is not the difficuity of which manufacturers can make, but of getting us to make up our minds. It is the conditions of the men who are going much more complicated than that. The to work for them, and who have pre problem has changed, You all cheered served to us this Empire, which will the remark that we must think of our has got to be thought out. You have to make it pomible for us to realise those Allies as well as of ourselves, and that "remember this also, that at the beginning: conditions.
of peace the essential thing will be raw materials Fortunately for us, a very Empire, and the question of Feference- large part of them are within the British which, remember is accepted willingly by the representatives of the Dominions Preference, but a duty which in itself is immense advantage, not only to the whole wise for this country is going to be of PRO SAN FRANCISCO, HONOLULU, Empire, but it is going to be of immente advantage if the some feeling which
THE sbore-mentioned vessel being arrived existed during the war, when the Domin ions have been so ready to place their
from the above-mentioned por produce at the disposal of the Empire
to continue after the war, and it is consignes of cargo are hereby informed essential that it should continue that their Cargo will be landed their informed that a Goods are being landed But there are two or thres things that
That is all I am going to say now. You deck late the Bardons and/or extre East: their risk into the ussardous woorde must remain even then until we get over that we are one Empire, and of Prefers do not wish, I am sure, to arge us into dos Godowns of the Hongkong and Kowloon "azardósa: Godown of the Hongkong; and:
Consignees of Cargo are hereby notified that hurt Godown Co, to get raw material without Government And I believe, indeed I know, and I am not only perhaps embarrass the Governored at consignees risk. CANA
Legotiations with our the Superintendent of Imports and Exporia 3 pas, will be subject to rent, so interference to a considerable estent as sure of it as ca be of anything: ment that we do not mind but would they mass produce an Import Ferall signed by Bils of Lading can be
All broken, elated, and damaged packsgui You have also to organise transport. You that the whole country will endorse that make our
sare is the countersigned, have got to see that the Dominions, who decision of the Government As regards Allies more
phasise
All brazer, chafed and damaged goods to be left in the Godown, where they wil | must, in lati in the Godowns, here they will he examined, Chalak against the Steamer and Prosented within 10 days of arrival, otherw Exwar, the 11th October, they will not recognized. that our manufacturer some way or another know where they are going to stand when the war, is over. at 10 That is the essential paint for them. +1 Government will be able to make a state am confident that the statement which the
which will not run in conflict, and remember from the point of view hope, with the views of any of our Alles raw umterial and of economic pres bringing the United States along his is almost as vital as
the British Empire (hear
that there will be
devoting when
tab All your ene
ries of this
-ZOONOMIC PARTNERSHIP - <
far enough to satisfy you that the anxiety said which, I think, would almost 8 which you feel you need not entertain, First of all, we have taken a step and remember, it is the result of the war a it has been taken, so easily which is an immense move forward in our whole can ception of trade policy, and that is the acknowledgment that, so far as this Government is concerned, the principle
point you wish to
You have raised some issues of the most, vital importance with regard to our industries. The essential industries of this country must be not merely main tained, but strengthened. This war has taught many of as useful lessons, and I are also in arrear in respect of British the other side of our problem, I have realise and this I am hope those lessons are not confined to manufactures, shall have their fair share never myself had any doubt, now that one party, Sir Edward (Laughter.) We have to do more than that. We must the war has taught us these lessons first have no doubt there are men in the party not forget the countries who have been that there is no good in having a certain to which I belong who have been taught fighting side by side with us, and who amount of wealth if within your country many things they did not quite appre will be entitled to the assistance of Great you do not yourselves produce the thing ciate before May I respectfully hope Britain in the re-equipment of the essen that are essential to preserving the that there are men in the other party tial conditions of their industrial and safety and independence of the country, who alad have been taught a few things national life. (Hear, hear.) You might (Cheers.) I am certain that is Jeson These are the days when courage is need have perhaps from an enemy source an that has gone home to the whole of the ed, and there is no greater demand on order which will be more remunerative to people of this country and which courage than when you have made up you than an order which would come from referred to by the Prime Minister your mind that a certain course is the Great Britain from the Dominions, or he spoke of essential industries. The right one to take, to take it without any from our Allies. I think we ought to see essential I am 1016 I am only 187 regard to anybody who taunts you that that the people who have been fighting you, in expressing my own. you are inconsistent with what you have together should be sorted first. (Cheers.) ayery one of you feels, that whe done before. (Cheers.) The country Do not let us make the mistake of dis-is not to get a triumph of any must come first, and not the career or solving partnership the moment this I anybody, y consistency of any man or of any party fighting is over. The world will not! (Continued at foot of next Oclure)
Jish
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