1939-03-21 — Page 10

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THE CHINA MAIL, MARCH 21, 1939

The China Mail

Ninety-Third Year of Publicationi

Telephone 20022

London Office:

[solidity which inspires confidence. Britain's people, in their frank habit of self-criticism, are prone to advertise their own deficien-

3A Wyndham Street, Hong Kong.cies. But there are reserves of strength which must not be left out of the calculation - when we are comparing Britain with pos- sible opponents.

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Hong Kong, Tuesday, March 21, 1939.

WHERE FINANCE IS SOUND

Westerns to the Rescue?

the

Young Americans used to be advised to “Go West.” The cine- ma, faced with a box-office slump, has been doing very much same thing by largely going "western." Nor is this tendency confined to the lesser-known lu- minaries of the screen. - Germany and Italy are not In the past the films learned backward in shop-window display. much from the technique of Everything is always rosy inwesterns.” It was the bucking their gardens militarily. Estí-bronchos, the round-ups - and mates of 'their great strength chases, the breathless fights may for this reason alone have precipice edges which taught that been taken too much at their face the primary function of the value. The British people _less movie is to move. It is a lesson addicted to the art of self-adver- which, after years of talkies, the tisement, have said less than "westerns" may have to teach all might have been said about the over again.

on

reserves of strength which are They may teach other things, undoubtedly theirs, and which too. In Europe there is keen are illustrated again in the huge controversy over the inclination outlay for armaments recently which Hollywood has recently announced £580,000,000 for developed for instructing the next year.

Continent in its own history. For

"If I could find one immovable example, such attempts 36 point,” Archimedes said, "I could "Lloyds of London” and “Suez” move worlds." There may be no to prove that the well-known fig- immovable points in the British ures of the past all looked, spoke, social system, but there are cer- thought, walked, and behaved tain very solid. elements in its exactly alike have provoked con- make-up which cannot fail to siderable criticism, culminatin inspire confidence.

in the protests of the De Lesseps

of

These are to be detected in the family against the portrait annual reports of the great Brit-the engineer of the Suez Canal.. ish banks for the year 1938, and Now, modern "westerns" con- the judicious, balanced words cern themselves with historical spoken by the chairmen of these themes rather than with, histori- institutions at the annual gen-cal personages. They show things eral meetings. Surveying the year like the development of stage- that has been completed, these coach routes and the growth of experts made no attempt to give respect for law. Thus, they avoid a rosy picture of the finances of fierce personal controversy. It is Britain or of the world 29 ala hint which more ambitious films whole.

might well find valuable.

Though it was shown that Brit- ish internal trade had been much Change in Belgrade better than might have been ex- pected, that the depression which Two major currents in South- began in 1936 had not developed eastern Europe may be traced into a general slump, and that the through the recent changes in United States trade agreement the Yugoslav Cabinet. The first was likely to produce favourable reveals a significant reaction to results, still it had to be admit- the march of German influence ted that there had been a gen-along the Danube. The second eral falling off in trade and a par- discloses an inherent problem in ticularly marked falling off in the effort to weld a united na- [British exports. There was no tion out of divergent · racial

attempt to hide the slackness, groups.

most of which is attributable to For the fall of Dr. Milan international unrest, trade re-Stoyadinovitch's Cabinet resulted striction, and the wars in China in part from popular opposition and Spain.

to his pro-German policy. The But in spite of all this, British Reich is one of Yugoslavia's best banking and finance have remain- customers. The political influence ed steady. The country is living of Germany is strong in Belgrade. within its means, paying its But inherent factors, which lead taxes, preserving its currency, the South Slavs to resist Teuton and managing" it with a view penetration, still make German to keeping a just equilibrium in control of the Balkans a Hercu- the money markets. The credit lean task.

of Britain is good, and it can Domestically, the new Serbian- stand the test of colossal expen-dominated Cvetkovitch Cabinet- diture on armaments as no other is in no stronger position than country in Europe can do, and its predecessor. For the Croats, without fear of financial catas- who polled a surprisingly large trophe. Britain cannot merely vote in the recent elections, are bear the normal strain, but Its in a better position than ever to finances can face up to a crisis embarrass the regime by their of the greatest magnitude. autonomy demands. Yet the Re- On this subject the chairman gent. Paul' apparently is moving of the National Provincial Bank, to break the circle in which strong speaking of the crisis of last governments refuse to make con- September, when war ́appeared cessions to minorities and weak THE IDEAL imminent, said, "It is some con-governments do not dare. And he solation to know--and the know- recognises that he must do so ledge should give us confidence quickly if a fate not unrelated to for the future that our great that of Czecho-Slovakia is to be financial institutions can sustain avoided.

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„popular opinión is achieving an Here at least is one element of increasing role.