AFTER the international conflict, in the form of the World War, bad calmed down temporarily, its place was taken by movements of various kinds almed at fostering international ce-operation, but very soon the world economic depression arrived, and for five years, from 1929 onwards, an international crisis has developed at an increasing rate. During the development of this crisis, various nation:, in the interest of self-preservation, have both raised their tariff walls' ce check the importation of foreign commodities, and also depreciated the value of their currencies in order by aggressive action to facilitate the expansion of the overseas market for their products. Owing to this keen struggle in the economic world the sentiment of nationalism has developed by leaps and bounds, and brought to an end the attempts to secure international ce-operation, The failure of the Disarmament Conference, the abortive World Economic Conference, and the deadlock now existing in the preliminary Naval Disarmament Conference all show how serious the present international situation has Become, The world market has become so] most of our natural resources Limited, while production has contin" serve our urgent needs.
to increase with great rapidity, Every kind of activity should be based upon the idea of practicability, and with the expenditure of less labour should.seck to attain greater large. surplus production results. There is no doubt that the markets, have been forced to try by fundamental activity of this countts aggressive action to capture overseas should be inclined towards agricul-_ markets from their neighbours. Such ture. It is because China is mainly 'Aggressive action, and mutual retalia~ agricultural and her strength is not} tion among the' nations, will, how-concentrated in a few cities that the ever, produce only " further contract world-wide wave of economic detion' of world markets and a deter~ pression has not so seriously affected oration in market conditions for at! this country, European—countrles products. If such a state of affairs which are primarily agricultural, {g permuted to continue, it will, in-such as Denmark, have also suffered stead of curing the depression, only less from the depression, for intensify international conflict, and similar*Feason. Of course agriculture! Tead, it Is to be feared, to another cannot withstand economic depres-world war. sion indefinitely, and in the long run must be dependent upon the extent British Stability of the support it receives from the Among the countries of Europe} nation, Another important—reason and Amevica, Great Britain alone] why our country has suffered rela-appears to be the country in whied tively less than other countries dur-the economic situation ig comparn-Ing the world's economic depression tively stable. British industry and Jot the past five years has been the commerce have had both a long his-maintenance of ihe silver standard. tory and a firm foundation, and the This has kept China free from many] British Empire surpasses in size of the influences which have affected) any other the gold standard countries, Since the Ottawa closer relations have been esta China's Foundation Diished between the dominions Recently China, in addition to sub-within the Empire. British. trade milting to the torture of civil wars polley has until recently been Uberal and aggression, has also. suffered in nature, with the result that for-natural calamities such as disastrous eign countries have been able' 19 famines and floods, and her rural] participate in trade with the British economy has now reached a serious dominions. With the development of condition. 'This can be seen in the the world depression, however, Bri-fact that China's Imports of agricul tain hag in her own interest' bea tural products amount in value 19] forced to restrict foreign influence four or five hundred million dollars! within the Empire, The increased year. Our natural resources are volume of trade within the Empire abundant. and, if we improve our resulting from this change of policy' has helped to make up part of the ising from the decline in the British' banking system has also had the psychological effect maintaining confidence people, and has influenced the whole Thus, despite un-both the government and the people of Britain have been able to pursue a mod and sound polley which has enabled them to meet the crisis and achieve a remarkable degree of success.
Cotton Textites The cotton textile industry Is the worst situated of the various. indus teles of Great Britain, and the depression prevailing in the Lancashire district is still unrelieved. The principal reason is that this is one of the and most easily imfated or initiated by less industrially advanced countries, The development_of textile industries in India and China has adversely affected the Lancashire cotton trade, but-a much more serious blow has been inflicted by Japan, because the latter has no! only made rapid progress in textile technique but also enjoys the very' great advantage of cheap labour. When we think of the severe effect of Japanese competition upon Chinese cotton mills in this country, we can appreciate how much greater 's the effect of Japanese competition in Lancashire, where the average rate of wages is so much higher.
Self-Help for China this critical moment what should be done so that the danger to China may be averted? At a time when the spirit of nationalism has become so strong the idea of developing China by means of international ce-operation is nothing. bettor than a dream, and in fact is impossible. Since the Incident of September '18, 1931, the balance of power in the Far East has been gravely disturbed; all sorts of new difficulties have arisen; and the putting into effect of measures of international ce-operation has become impracticable in present circumstances, The only way to secure salvation far! China is to adopt the principles: of self-help and self-preservation, In carrying out these principles we should adopt the strong points of others to make up for ow deficit cies, and at the same time make the rricultural productivity, there is 9] reagan why China should not be self-supporting in agricultural pro-nets. China's foundation is funda mentally agricultural, and, i¢ this is Wdequately protected and strengthened, these problems of economy, the adverse balance trade, and similar financial questions, are not incapable of solution.
'AS part of our agricultural polley the development of transportation Indispensable, otherwise, even production is increased, it will be of no help to the farmers, as surplus] supplies in one place will be unable] to relieve suffering in those place: where supplies are deficient. The development of communications should' be regulated with the idea of transporting rural products, and the raising of funds for construction should not be at the expense of agricultural development. The emphasis of developing transportation facilities should thus be. primary concerned with the—distribution of agricultural products. When these tasks have been accompl:-
Jshed, the development of mining should then follow. China is richly endowed with natural resources, jand, if only our people will exert themselves and make use of these resources, they may achieve _considerable results in strengthening the foundations of the nation.
Development of Resources regards industry, we must adopt every method to maintain and estat fre tories, watch have. alvesdy been, established. 'New industries which ore stil being' planned. or which need bigger capital, should be Planned in such. a way' a t0 one Eourage the ce-operation of. foreman api The weakness of our people "hele covetousness and large-scale reams. 'For. many. years now We fave been concerned. in" preserving fur rights, but at the same time we fave Gone nothing to. secure the eclual benet to be derived from fteveloping, our natural resources this ie rather like' hoarding one Fiches and may: encourage the agares lon of other ditions, In" present rcumnstanees "we should concentrate Jour human and ancial strength reviving the rat Gait och developing our mineral weal fit consetidate the country's posi-on, "end fs'n sufieient programme forthe present. To pass over these Svius needs' and cipate our efforts, in fostering new industries would necessitate @ protective tariff
Text read from the printed page and cleaned; old type leaves the occasional error.