London, Jan. 21.
No one really entertains aay longer much doubt that ihe economic slump is largely due to the complete breakdown of world transport.
During the last few weeks I have had an opportunity of talking with a number of leading business men who have returned from abroad, and the stories they tell of the actual condition of affairs in other countries, due to inadequate transport, are almost incredible. They show that all the countries of Europe producing raw material in sufficient quantities for export, are not able to benefit because they cannot get the products out of their country and are, therefore, not able to purchase manufactured comn.odities such as nations like our own produce.
Take Russia. Russia's complete breakdown of transport is noter ious; there seems to be still plenty of grain in the Ukraine, but even this cannot be moved about Russia itself. Romania is in a worse plight. Largely a wheat growing country, it possesses such vast reserves of exportable corn that it is rotting in the warehouses, and the farmers seeing no market for it in the near future, are ceasing to sow much land this winter and spring.
Petrol is 7d. a gallon with the tin included and as there are so few motor cars in Romania, and~ no proper means of getting the petrol out of the country, the refineries are ceasing to make it any more, at all events for the present.
Tanning is a large industry in Romania, but there are so many hides tanned and unexportable that the tanneries also are stopping.
There never were many good roads in Romania and their present state beggars description. Before the war there were 3,690 locomotives; now there are 320. The Germans took away the majority and the rest keep breaking down because there are no means of repairing them. Germany will not sell locomotives except against gold of which the Roman-ims have none since the Germans stole it all and while Baldwin's, the American engine building firm, are quite ready to supply locomotives in parts only, there are no means in Romania of putting them together.
Sap ConpITIon oF THE BavKans.
At Galatz the port of Romania at the mouth of the Danube there are heaped up two years' collection of imports, including many perishable, and there seems no earthly chance of distributing them throughout the country save after immense delay. Yet Romania is
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