Page
PRIME MINISTER ON
WORLD'S - TRADE.
THE FIRST REMEDY.
THE
I WORK WITH BOTH HANDS.
Mr. Lloyd George was the guest inst month of the Federation of British Indus- tries, at their annual dinner at the Hotel Cecil.
he said :-
THE HONGKONG DAILY PRESE, SATURDAY, JANUARY 891B 1921.
COST OF THE WAR.
What is it? Very often"we"; seem to
GERMANY AND THE LEAGUE. VISCOUNT GREY'S PLEAL "FOR" PROMPT ADMISSION,
BETTER U.S. MONEY.
CONDITIONS IN 1991.
and countries, in the eyes of Lord North- you we shall have dinghies Do not cipalities-it is for the nation to be behind cliffe, with no Government (laughter let us work up pretended causes of them. Some people say it is behind them and countries whose Governments, in his this slump; keep to realities. Europe, Are you quite sure t
(A... Voice: Quite, and laughter.) lordship's clear eyes (laughter)-can Britain, the world, has got to work its never be right. (Loud laughter.) They way back to a full purse (cheers) and You cannot economiae unless you make up
A statement. by Mr. James S all suffer alike. It is raining on the just until it does it nothing that Governments your mind to economise all round. I Lord Grey of Fallodon, speaking at Alexander, President. National Bank of and on the unjust. (Laughter.) And can do, nothing that federations can do, accept what the chairman has said about
Commerce in New York, says :--Business take the structure of society. Socialist and Heaven knows, nothing that news expenditure. In this matter you must Liverpool, last month, said the League often are justified in feeling confident that countries are suffering just like these paper articles can do, will be of any use, take into account not the merits of any Nations was young, but was growing in the money situation in the United States The working No Belsharik paper money will ever help particular proposal for expenditure, but strength every day, and had steady dous in 1971 will be a very different matter wretched individualists. classes are more wretched where the sun us through to the solution of the problem, also the national resources for the time much. The primary object of the League from what it has been during 100. Certain speciße lactors are clearly recog Replying to the toast of " His Majesty's of liberty is shining on them ander Lenin and that is the first thing. There are being. The Government have set up as to prevent wur, which if it occurred mirable as the chief adverse forces afect Minister," proposed by the President, and Trotsky than they are in this be people in the world for it is an odd world Committee for the purpose of going
nighted country, where they are locked up and there are very many odd people in through, the whore of the estimates again in future would be more terrible and ing bank credit during the past, Year, It is very important that the Chrern in the dungeons of capitalism. (Laughter it who think that the poorer European with a view to cutting down to the lowest destructive than the great wor of the imme. and there in every reason for believing ment should have a bods coming to it and cheers.) If you are to get at what is countries are, the richer. Laughter) limit oompatible with conditions. I have diate past War had a chemical side, and they will not be so powerfully operative which speaks on behalf of business as a going to be done let us get rid of the Was there anything more foolish The laid down, and we shall have to ask for until war was impossible men of scheme in the year to come. These facts sprang whole. Therefore, I frankly rejoice at notion that this is a cause which is limit more prosperous our customers are the support of the nation. Having dealt would always be engaged in research, in irresistibly from abnormal circumstances this organisation, Labour is getting ed or circumscribed by something that throughout the world, the better it is for quite frankly with the public department, renting contrivances for use in wat, and in our national life which are passing us. That is not a palatable doctrine, but I will come to the private department. the time would come when a war would away. But at times their influence în organised, and I do not mind saying I happened in this land."
it is the truth.
Since the war there has been an orgy of mean the destruction, of all civilization, impairing the afficiency of our credit would rather talk to'an organised Labour than to a disorganised Labour (Cheers.)
Now as to the remedies. The first spending everywhere. If we are going to Now we had acquired such power over the machinery was so great as to cause There is no more dangerous symptom have forgotten that there has been awaredy is peace. (Hear hear.) Europe build up our resources again we require forces af Nature, unless the nation of the serious anxiety. With the force of these than the fact that an organisation, howan: (Fear, hear.) Has anyone taken a cannot work its way back to prosperity that there shall be economy all round.world developed at the same time the power influences modified, banking may aspect unless it has peace. There is a great I suggest that there should be a committee of control and self-restraint the very powers to serve the needs of legitimate business ever fine, does not represent the mass piece of paper in his hand and reckoned story of reconstruction in a great old in every household to cut down expen- they had acquired would end by destroy with a less degree of credit strain than of opinion below. I am, therefore, glad up what it cost, not here, but to the book, of men who reconstructed a broken diture. I know what will happen. (Laughing them. However desirable the. League prevailed in 1990. that the great business community-those warld? It cost over forty-thousand city with towel in one hand and sword ter.) The ladies will ent down the cigar was before the war it was now essential to At the end of a lengthy review of the who have the directing brains of industry million. There you have sity thousand in the other: It was not very quick. It bill, and the men will cub down the dress the preservation of civilizations The object credit resources of the United States -are coming together and federating and million sterling of destruction, and there was worse than working under trade major bill. But it is essential that there should of the League was to prevent us from going Mr. Alexander says:There has been combining and co-operating, and are, I were ten million young vigneius lives and regulations. (Laughter.) Europe, to get be rigid, ruthless economy everywhere to war ourselves then to prevent anyone tendency in some quarters to lay the hope, prepared to give a common counsel ten million of cripples. What need is back, must work with both hands. (Hear, for some time to come (hear, hear, who wanted to fight us, and then to stop blame for business conditions in 1990 to the Government, You may depend there to seek beyond that (Cheers.) hear.) She cannot handle swords and and we appeal to the nation to join in ay ation who wanted to fight at all. upon credit inflation. The fundamental upon it we will always welcome every You sometimes see a shon in a prosperous trowels. The whole energy of business common action. (Hear, hear.) If public was on its side, the League fault was not in the mere extent to which opportunity to confer with those who can neighbourhood doing well, with a great men, of workmen, of statesmen, ought to Proposing the toast, to which the Prime the time came, refused to make use of credit inflation in the sense that it was speak on behalf of business. Whether you turnover, and paying great dividends. be concentrated on this task of working Minister responded, the President said the League it would be the business of lavishly increased without regard to I would be effective." IE-Governments, when credit was expanded. There wFAS - DO approve or disapprové I will not say it Suddenly something happens to the up the impoverished purse of mankind. does not matter, but what really matters neighbourhood, the trade has gone, people That is why some of us have been doing most of them now looked back with republic opinion, to dismiss toss Gevera actual debrands. It is undeniable that is that you should come and tell us what surrounding him cannot buy, and cannot our best to find these peace conditions Bret upon the stable conditions of the mente and pat others in their place, but our credit expansion during the year was the business community is thinking and pay for what they do buy, and that shop That is why some of us have attended past Producers were preplexed by an public opinion must be ready, and pro- unprecedented. It is true also that it what advice it has got to give to the is not as prosperous. What has hap conferences.
unstable, exchange, high taxation, fina paganda was needed outride party politics or would not have been necessary to ex Government. Your chairman remindpened is that your customers are poverty- The world wants peace to attend to its cial stringency and exersive costs. In other controversial questions which devoted pand credit to the extent that it was ed you that the boots times are overstricken. I have got the figures this after business. (Cheers.) Here is a doctrine dustry, wai skating on cracking ice, and self entirely to the League Armaments expanded, had it not been for the in- for the time being, and that we are nood from the Board of Trade of what in the chairman will accept, that industry it might be that in the not distant future lot to war, and public opinion on the side pairment of its efficiency as a result of "getting into the slack times a period of sold to Europe. Before the war we sold should be left as far as possible to work would look to the Government for some of the League would in itself discourage various elements: a smaller volume of long, or whether it is going to be short, produce or produce on which we got and cheers.) I share your feelings Government interference, but he unhestiture on armaments should be known to all, accomplished during the year if credit depression. Whether it is going to be to other countries, most of it our own out its own salvation. Hear, hear thing more than sympathetic assistance, the building up of armamente. What every credit, would undoubtedly have sufficed to (Hear, hest.) Ee had no desire for nation was doing with regard to expendi accomplish the work that was actually there is no doubt it is going to be serious, profit, £216,000.000 worth of goods. At against Government control. It is not The question is not whether anything can present prices I am told that would be the business of Government. Government atingly invited Government co-operation and when a nation began to force the had functioned with its... maximum be done to avoid it--I am afraid it is an- about £600,000,000, or probably more. has not the equipment to do it. In times Taxation there must be, but in his pace the pressure of others should be efficiency of complete liquidity. However, avoidable-but, whether something can Where is that trade now? Our customers of great emergency it is essential it should opinion any direct taxation upon industry brought to hear.
conditions and needs considered, eredit be done to shortes it and to mitigate its are in poverty-bankrupt. I am not sure be done because everything is concen tras unsand (Hear, hear:) "Good as The soonef saemy States were admitted was not over-expanded. evils. Before you can do anything to cure where I am about inflation and deflation.trated on the task we have got in hand, EP.D. (laughter) any other special to the League the better. If the League But by saying that credit in 1820 was or mitigate a condition of things, you (Laughter.) I advise you to think twice but the sooner you get away from it the form of taxation might be as a political did not receive the support of all the not over-expanded it is not meant to must have a clear indication of the causes and thrice about it. The printing pressen better. Yes, but that applies to home weapon when profiteering was possible or Great Powers a counter-League would be imply that the time is not at hand for and a readiness to acknowledge them. may turn out paper money, but to buy trade Does it not apply to international suspected, be-would urge upon the Gay formed, and they would go back to the old contraction. With our credit regaining whatever they art.
even a pair of boots in some countries trade 1 The less interference there is ernment that the time for such measures system of alliances. Germany would be its fall efficiency, with prices going down, The first thing we have got to get into there has to be an inflated capital of one on the part of the Government in trade, was past. (Chers.) It was difficult to far les dangerous inside the League than with liquidation in process and with the one minds is this: the causes are not thousand million marks a month This is whether it be home trade of foreign trade, avoid sounding a note of pessimism. but outside, and, while he appreciated the volume of business running on lower peculiar to our country. They are some the road to bankruptcy. That is what is the better (Cheers.) industry at the present time was sured the great principle of the League or for the present volume of credit, and, one could not but be deeply sensible that French point of view, if Germany recognize levels, there is not the economic demand thing that affects the whole world. happening in Europe. They cannot get (Hear, hear.) It is not an atmospheric on without it, and they cannot buy, and There are certain things the Govern rounded with difficulties possibly greater settling disputes by some means other than depression "that affects one degree, one when they buy they cannot pay (Laugh- ment must do, whether at home at abroad than ever previously experienced. To-day war, and observed her Treaties, the doors therefore its contraction to a true parity coast one country. It girdles the earthter.) Did you ever see the spectacle of We are pledged to deal with the problem we were faced with an economic condition of the League should be open to her. The with current conditions is to be desired. the United States of Amerien Japan, a man in rags, down at heel, standing in and so far as we can we are pledged to of Europe) the effect of which it was League should encourage publicity. All
THE FIRST NEWSPAPER "AD.", China, India, as well as the United King front of a shop window looking at clothes do something to deal with the exchange impossible to calculate. The latest re-Treatise should be submitted to is and pub dom. The whole world is suffering from and boots all the latest fashion and situation, but in the main our policy is borts indicated that the German Governed At no time of peace should there it. It is important, when you come to you say: Why doesn't he pay, he is on that the less interference with trade on ment was creating credit at the rate of be any secret treation
The great interest aroused by the Inter- think out remedies, to get that funda- the rocks, he needs them, why doesn't the part of the Government the better it approximately 1,000,000,000 marks a week.
national Advertising Exhibition makes it mental fact into our minds (hear, hear)he buy! Why doesn't he go into the is for the trade and the better it is for Much of the money so raised by the Ger
of interest to recall that the first newspaper that may be appreciable to one country front of your shon window stocked with controversial matter. In order to get ing labour. The working men in Germany British cost of manufacture, and it would certed lost horse. The second known so that we should not run into remedies shop? He cannot pay. Europe stands in the Government. Now I come to a more man Government was applied to subsidis moment being offered at Sgures far below advertisement en record appeared in the Moderate of March 27th, 1849, and cop-
·but not to another.
the best goods that any man can turn out: back to the starting point you must have were enjoying the benefit of subsidised appear inevitable that this must continue advertisement, siriously round town (Hear, hear.)
public and private economy on the strict food restricted house rents, subsidised so long as the great disparity between Severall Proceedings in Parliament, for est and most relentless lines. Public ex-transport, the effect of which was to re- British and German wages continued to December 19th, 1050, also concerned Europe is in rags, and wants the penditure ought to be ent down to the duce the cost of living to a figure far exist What he had said-in regard to stolan horse, and (adde the Liverpool Post) clothes, but their pockets are full of minimum consistent with national security lower than obtained in Great Britain Germany undoubtedly applied, though the law of libel being less severe then than paper; they can't buy, and until your and efficiency. It is not only for the German productions were at the present possibly in less degree, to other Con- now it frankly stated the Joka customar is in n condition to trade with- Government to do that, nor for the mund: - (Continued as foot of rest column.)
Rylands, a butcher, is suspected."
For instance, countries with totally different economic systems are suffering alike-Protestant countries, Free Trade
countries; countries with good Govern ments and with bad Governments flaughter)—countries with Governments
EUROPE IN RAGR
NEED FOR ECONOMY”.
tinental nations (Cheers.)-
NESTLE'S MALTED MILK
THE FOOD-DRINK
ARRANGEMENTS ARE BEING
MADE FOR SUPPLIES TO BE
OBTAINED FROM
ALL
DRUGGISTS and GROCERY STORES
NESTLES
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Please send me Free Thal Bottle of
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MADE IN A MOMENT
BUT IT TOOK
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MALTED MILK THIS BOTTLE CONTAINS & COMPOUND- OF WELS AND EXTRACT OF MALTED.
BARLEY
AND
MALTED
WHEAT FLOUR
RETLER ANGLO SWISS CONDENSED.
PREPARED IN SELE
CHAWAVEVEY, (SWITZERLAGER I LONDON, NKETT WEIGHT IS-OUNCES ARE
1065-3
IN
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15 oz.