1939-06-27 — Page 10

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可用耐油冷

E NATIONA

h

THE CHINA MAIL, JUNE 27, 1939.

The China Mail Ninety-Fourth Year of Publication

Telephone 20022

for it. Wheat can be grown cheaper and better in the great continental growing areas of the world. Specialization, indeed, is the pass key to prosperity. And the retreat from specialization is

3A Wyndham Street, Hong Kong, setting the clock back to primi- tive times, just as if the natural sciences had not yielded their se- crets of cheaper or better pro- cesses, or transport and market- ing had not been developed.

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Notice To Contributors.

Secretary Hull keeps the flag flying for a libertarian order in international trade. It will be up- held by others when the lesson All communications intended for of the times has been learned.

Only through trial and tribula- publication should be addressed to tion, apparently, can we learn the fundamentals of our economic ex-

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The fact that the present Lord Rosebery owns a Derby favour- ite carries the mind back forty- five years to his father's first vic-. tory in the race and all the pother and comment there was about [the conjunction of Prime Minis- ter and turf magnate. Rosebery himself made a stout defence against his critics. There was an

:

Hong Kong, Tuesday, June 27, 1939. unprecedented event just before

SAYING IT AGAIN

Derby Day in 1894, when the Prime Minister attended the Fourth of June celebrations at Eton and received the public When a man has said the same good wishes of the Provost for thing for forty years, he may be the success of his horse. In reply pardoned if there's a repetitious he said that in spite of "repre- sentations he had received from quality in his voice. United the anti-gamblers he was not in States Secretary of State Hull the least ashamed to be the pos- has been saying the same thing sessor of a good horse."

None the less it did seem to a for forty years. And yet every

good many people that the suc time he preaches freer trade ascessor to Mr. Gladstonen the the means for bringing back leadership of the Liberal party peace and prosperity, he endows might have found a more ser his preachment with the fervorious" form of relaxation. He re- of a new convert, as was shown torted (according to Lord Crewe when he gave the main speech in the "Life") that to watch La- in inaugurating Foreign Trade das gallop was no greater a dis-- Week.

traction from serious politics denounce Vaticanism Mr. pamphlet like

a

His case is irrefutable. If one than to grants that a nation should be in an exclusive market for its citi-Gladstone or to study phy- in a laboratory like zens, logic leads one to say that sics

He added that an individual state should have Lord Salisbury. the same prerogative. The Con-Oliver Cromwell had owned race-- stitution, as it happens, forbids horses and presently received: such a proceeding, but the logic from Sir Frank Lockwood a of the protectionists has become drawing showing the Protector a boomerang. Almost every state in the slouch hat and soft riding- has in some fashion been getting boots of his period, but with race- around the prohibition against in-glasses slung over his shoulder terstate tariff barriers. From the "gloomily regarding a string of state, moreover, the logic will weedy thoroughbreds, with O.C. no doubt be passed on to the loon their quarter-sheets, being cal community.

ridden round the ring of a race- course.

Better Than

That would be a reductio ad absurdum. Everybody would then be taking in his own wash, as was done before the development of transport and marketing. It was this development that en- couraged specialization. Accord-Compliment ing to skill, climate, or economy, communities and countries spe- For the average person to be cialized in particular vocations. mistaken for some celebrity may This made for a surplus. Ex-be something of a compliment. change was built up in these sur-But some days ago a New York pluses, and the fruits of special shoe salesman mistook Henry ization thus helped the entire Ford for Henry Ford. What ap-- world to live better, because it parent confused the salesman meant that different types of work for were left to be done where they was could be done cheapest or beat.

Some day the world will wa

up with a start to see how much trubber it is losing by economic exclu—to be siveness. It is losing leisure for

one thing. Think of the ext

effort, to take one exa

volved in making wo

milk. The rest article. and cheaper. Think of the labour involved in Frenci Ibing for wheat in land und

that Mr. Ford

uying a pair of $1.19 golo--

One doesn't expect cale- those with

lantations of their own buying $1.19 goloshes. If Ford segme little pleased

rity isn't

to be taken

one:

only