1939-07-05 — Page 18

THE HONGKONG TELEGRAPH, WEDNESDAY, JULY 5, 1939.

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The

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Peace?

'Phone 26615

July 6, 1939

WILL there be pence?

That is the question which ench man is asking his neigh- bour. It is the question which

is foremost in the words and thoughts of people to-day.

Everything points to peace. Danzig is the outstanding issue, and it should not be incapable of solution by negoliation. Hitler should know that he can obtain a just settlement by peaceful -

means.

Further, it is becoming in- creasing clear that Germany has not the resources for a long war. The sinews of war are oil and iron. ---Even if-Germany-had-all-the- oil of Rumania, she would not have enough for her peace-time needs. There would be nothing over to fuel warplanes.

on

And Germany depends Sweden for iron. More than half the high-grade 'steel used in the Ruhr armaments industry comes from Swedish ores.

Meanwhile, the other partner in the Axis is getting alarmed. Italy still keeps in step. But she persuades Germany Lo mark time.

It is easy to see why Mussolini fears further German advances. History shows that there is no stability in a partnership of conquest. A dictator will not willingly share power with us foreign dictator, any more than he will share power at home.

The last experiment in a dic- tators partnership was when Napoleon met the Czar Alexan- der, on a raft at Tilsit. They arranged for the division of Europe and the conquest of MAsia.- But that partnership

soon broke up, and Napoleon's army was broken in Russia.

There was only room for 'ono Napoleon in Europe, and there is only room for one man to fol-

low in Napoleon's footsteps.

IN THE

CZECHO

AUSTRIA

BAG

The German-Italian Axis is now to become a military' alliance.

Saorgs Anita was som

Hobson's Choice

PINIONS differ whether we shall be plunged into wur or, by force or appeasement, avold it. But there is a consensus of opinion that war has at least been postponed. We have some breathing space.

During this period of unstable equilibrium. the community in general and Labour in particular are confronted with an issue which, at the peril of our future, cannot be evaded and must be faced with the courage of our race. Of its gravity and magni- tude there can be no question.

It can be simply stated.

At present we are committed to an expenditure on war prepara- tions and munitions of probably not less than £3,000,000,000-ane quarter of what we spent in tho Great War. Nevertheless, we have 1,500,000 unemployed or part employed.

.

NOW, either there will ------be war or-thore will not de war. If it must be war, there is nothing whatever to win: impoverishment will stare us in the face. A new economic structure becomes inevitable.

If we decide that there will be no war, then nothing remains but to liquidate our stupendous loss.

Liquidate! Unless, starting to- morrow morning, we are on the alert, it will quidate us. For it means an unemployed army of at least 3,000,000, a financial strin- gency never before experienced, not even in 1931, a semi-cessation of all our economic processCD.

If there be no war, this condi- tion of affaira is positively upon 119. But should there be war, it

bc Will

indescribable tragedy mingling with economic chaos. The main problem will merely be postponed.

IF we escape war, our industrial system must be badly shaken at the price of universal privation and misery; if war supervenes, I do not hesitate to assert that Capitalism must collapse.

am appalled at the complac ency, the apparent indifference shown by the whole community to the situation in which we find our- selves

War

or no war, there is no escape. We are not walking with our feet on firm ground; we are floating in levitation.

NO

NO conclave of philosophers, economists and quidnunes 1s needed to confirm this; it is as pal- pable as it is imminent. Nor does it need a yet further official In- quiry to declare that these issues transcend all existing organiza- tions and movements.

There is, at present, no group of:

work he is remembered.

Mussolini knows that there higher mathematics. It is by that will be no room left for him if Hitler goes any further.

Study Detail·

Although he was a social ro former, Robcaplarro issued a de- croo against him at the height of the French Revolution. For many TWO hundred years ago the days Condorcet hid himself. When Marquis of Condorcet was ho came out hungry he went into born. Ho lived to bo a dian restaurant dor'an anolette. The tinguished misthematician. But he landlord risked him how many cugo died because he did not know he wanted. Condorcet, who did not how many eks went into an know, told him twelve. omolotte.

Ifia reply betrayed him as an' He dovised the differential aristocrat. He was taken to pri wwww fentculus, an intricate formula of'son, where he poisoned himself.

In this article, Mr. S. G, HOBSON, famous writer on currency and economies, draws attention to the tergent problem created by the immense expenditure on armaments-a problem which will hrive to be met whether there is peace or war. We do not agree with all Mr. Hobson's proposals. but we publish his article because we think #it essential that there should be public discussion NOW of the economic problems raised by our huge arme expeuliture.

men, no body of doctrine, equal to the occasion. It would be a miracle if it were 'Go; but we may well in-. quito co-ordinated effort by those primarily responsible 18 being made.

Who are they? Without question every functional group, associa tion and union throughout the land-especially the technicians and trade unions.

The trade union leaders, for example, need no persuasion that in a time of unexampled trade de- “pression," with "three"or"four"mil- llons unemployed, wage bargaining is as the crackling of thorps under the pot. We shall have passed that stage

age beyond recall.

The choice, one way or the other, will be imperative: either Labour will sink yet deeper into wage- servitude, or, under courageous leadership, It will claim and obtain

A

convene a

share in industrial government. What is

is needed is the exe of

exercise imagination by the General Coun-

the T.U.C. to cil of apeelal congress to consider deci- sive action both in pre-war and post-war conditions. I entreat them to rise to the height of the great argument.

Nor will the scientists. tech-

alclans and administrators the functional intelligentsia-be under any illusions. They will speedily discover that established finance, bogged in war commitments, must fail them.

They will have all the materials of real wealth; thoir task must be to disentangle the realitics from an obsolete industrial system. Their choice will be either to remain at- tached to conventional Anancial control or break loose into the wider sphere of function.

Labour will naturally desire their. co-operation; in the last resort it can do without them. The younger technicians, already in sympathy with Labour, will readily jump into the breach.

Three lines of development are Indicated.

FIRST, there must be industrial self-govern- mont. Each industry, all its working oluments har- monised, must evolve a new tech- nique based on function and no longer on finance.

Ita business must be to produco up to the limits of natural demand -resolutely uninfluenced by all Capitalist attempts to create arti-

GRIN AND BEAR IT

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Acial carcity for purposes profit.

Secondly, it la Instantly obvious thut no single industry can stand- alone. All must be co-ordinated in an Industrial chamber, whose decisions, shall be subject only to the veto of the House of Commons.

This invpives devolution of definite powers from the Commons the industrial chamber. upon

Thirdly, the Lasue of currency must pass from the control of the Banks to a National Currency Board which, subject to the Government, must issue currency in ratio to production, and at the same time maintain a constant price.

This, be it noted, does not necessarily involve the nationali tion of the Banks. Apart from other considerations, there is no time for that.

THE Issue of national currency against pro- duction, with all its an- cillary services, will suffice: may evenmark-a-new-era-in-the- development of monetary theory.

I will not add a single word in support of what is here suggested, Beyond remarking that our poten- tial enemics aim at supplanting our industrial economy by smother, based on dictatorship and a servilc class.

Our only answer is an industrial democracy. But aven if tho developments here indicated are premature, there can be no ques- tion that our economic activities now place our people in grave jeo- pardy.

Bo I appeal to all men and women of understanding and good will to lose not a single instant in pre- paring for the Inevitable.

Murder Of Mr. Tinkler

London.

The recent murder of Mr. R. M. Tinkler was again referred to in o question in Parliament recently, oN follows:

Licut-Commander Fletcher asked the Prime Minister what reply hna rbeen received from the Japanese Government to representations con- cerning the murder of Mr. Tinkler?

The Under-Secretary of State for Foreign Affairs (Mr. Butler); My Noble Friend is stili awaiting a reply. Liont-Comniander Fletcher: Is it not the case that the Japanese Government have made no reply whatever to our representations con- cerning atrocious circumstances?

Mr. Butler, Certainly no reply has. been made to the representations to which the hon. Member refers,, but the statement which I made showa. that exchange of vlow have taken place:

Mr. Hannah: Is not this mutter merged in a very much bigger ques- ton?

Bridge Novices Compete

CLEVELAND, QU Contract bridge fans who hezliate to enter major tournaments were given an opportunity here to compete ngainst similar ‚ployers' in,ű, novico, champlomhip series. The event war part of the 14th annual Ohio bridge tournament.