1940-03-06 — Page 8

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THE CHINA MAIL, MARCH 6, 1940

MIRROR OF WORLD

OPINION

WAR FINANCE

MORALS FROM BUTTER

Dr. Funk (Dr. Schacht's successor), In the early part of the week each in an important speech at Salsburg of us now sees

before him on the threw some interesting light on the breakfast table his ratión of butter, German attitude. He did not begin, and knows that it has got to last him like the Prime Minister, with plati- for a whole seven days. In the course tudinous warnings against the "vicious of those days it will assume various spiral," about the need to prevent shapes. Beginning as a solid mass of prices and wages tumbling after each other, or threats of the possibility that we may ration further **if necessity for that becomes apparent." has not "wholly vanished before their

rock it will diminish Into a crag and from a crag to a splinter. Then it will sink into the tiniest knoll if indeed it

He took it for granted that Germany

strenuous "exertions." No doubt had solved all that. He assumed that "many a moral for "the young" can the cost of living has been held down be deduced from butter, as Mr. by the Government's measures against Wopsle said it could from pork. It rises in price, its control of wage in- is very good for us, partcularly in creases, and its exhaustive rationing of Lent, to have to restrain our natural food-stuffs and clothing. His point was that these measures are only a begin- ning; they have not solved the pro- blem of restricting consumption as it must be restricted if Germany is to stretch her limited resources to cover her military and export needs.

impulses. We discover the fallacy of those specious economists who allege that it is a saving to eat butter with jam on the ground that the same bit. of bread does for both. We acquire a nicer judgment, a more accurate eye, and a more complete mastery of the. knife in estimating our exact re- quirements for a plece of toast, that no morsel shall remain wasted on the plate. We may hope-too to gain something of the team spirit by a generous and friendly, rivalry in hus- banding and comparing our resources, much as Pip and Joe Gargery used to compare the way in which they bit through their slices of bread and but- ter by holding them up for each other's admiration.

The industries that are not essential for war purposes have to bear hard ships. "The restriction of the produc- tion of consumption goods demands that the consumer also has to do with out things." "We cannot," Dr. Funk told his German public, "eat our cake and have it." It can be broken up into

All this is to the good, but there is but its size pieces and shared out,

another and a darker side of the pic- cannot be increased. So with the pro- ture. Butter is apt to develop in us the duction of German industry. Consump- unlovely characteristics of the miser. tion can be only greater than current. If we have chanced to be away for a day while the rest of the household production if the latter is increased by has stayed at home, we cannot check, further effort or if stocks are drawn though we may conceal, an odious on and replacements forgone. The first satisfaction in seeing that our moun→ (as the "Frankfurter Zeitung" em- tain is now perceptibly taller than phasises in its comments on Dr. Funk's theirs. The very, yellowness of butter speech) is limited by the fact that adds to this moral danger since it sug- Germany has for years been working gests a hoard of gold. It is true that at almost maximum capacity. The our vice cannot, like that of your true second is a wasting substance to be miser, he an entirely secret one, since to the public prevented as far as possible. The al- our treasure is open ternative is to cut short the production view; but we can gloat over it secret-. of non-essential goods and at the same ly nevertheless. Fortunately also we time, persuade the consumer to "dis- cannot indulge the miser's ecstasy in cipline" himself (Dr. Funk's phrase) handling his gold: This is a temptation so that he will not try to buy these that lies dormant in many breasts. goods, thus forcing up prices and in- There can be few who have not felt it ducing inflation. This is, of course, ex- rising within them as they read how would tremely familiar truth, although in of an evening Silas Marner this country it has been left for econo- bring out his guineas from their hid- mists to say (and be abused for their ing place under the floor, how he pains). "The part of income (Dr. "spread them out in heaps and bathed Funk goes on) which is not required his hands in them; then he counted. to meet the cost of living belongs to them and set them up in regular pilės the banking or savings account, where, and felt that rounded outline between it can be drawn upon in time of need, liis thumb and fingers." We cannot and where it will be of particular do that with our butter; but, we can value when it comes to the conversion gaze upon its rounded outline, and re- of industry to peace-time conditions," joice that it can at least stay as it is, The essence of Dr. Funk's speech was if we hold our hand from the butter that these "free parts of income" knife. It cannot melt like snow if must be withdrawn from the competi- "unsmote by the sword," but remains tive market somehow or other, if not a beautiful, gilded monument on which by voluntary saving, then by stringent we can feast our eyes, even ab, when taxation. In the first place they were innocent, we feasted them

is on the Albert Memorial the "voluntary". principle

its trial, to have

and,

At first when this passion takes hold messages from Germany in the last os us we may, yet have a motive not few days have shown, some most in- wholly vile and essentially human. It' genious devices are being canvassed is that of getting the worst over to be- which will make sure that the wage- gin with and of looking forward to an earner, no less than the capitalist, con- unctuous time of it in the last two tributes.

days or so. We may even think of dis- One thing the British and German tributing small pieces to the less thrifty statements have in common. The with a pleasant sense of patronage. statesmen of both countries put their and complacent virtue. Gradually hands on their hearts and vow that however we shall embrace miserliness never, never again will they agree to more and more for its own sake. We pay for the cost of the war by using shall dream of a morning at the be- the printing press. That is, perhaps, ginning of a new week when before a matter of degree; the printing press each member of the family is set his will not be altogether idle in any belll- or her new mountain, when our gerent, country and, however much mounthin and ours' alone will appear we may dislike it, some amount of to be cloud-capped with gold, since Inflation is inevitable. But it is fair on the top of it will rest a glorious to ask which of the two methods of remnant from the week before. Then approach, the drastic German or the there will really be nothing to be said Half-hearted British, is the more likely in our deferice, save that this horrid Cather things being equal) to avoid aand hitherto unsuspected “fait may repetition of the experience of the last Indirectly beneff the figure.

Times.

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achester Guardian.”

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THE CHINA MAIL, MARCH 6, 1940