March 3.
The ten-point "Immediate Programme" of the British Labour Party, as disclosed by the "Daily Herald," is a most interesting. document, because it so clearly me dicates the present paucity of Labour inspiration. To say that it is completely bankrupt of ideas would be to exaggerate, though it is perfectly plain that the policies of the National Government have left its opposition very little room for creative thinking. Thus Labour will continue the foreign and defence policies of the present government, if and when it comes into power, and upon that stock seck to graft one or two of its pet schemes and at the same time bind the worker to it with bonds of iron by the promise of shorter working hours, statutory holidays with pay and good wages in all public-owned industries. Labour's desire for the public ownership of the Bank of England is a matter of long standing. For some considerable time past its leaders have contended that the Bank has at times used its power to thwart the Government. A Joint stock bank, the Bank of England since its creation in 1694 has always been closely connected with the government and undoubtedly has rendered it services of incalculable value, It remains to be proved that it has at any time sought to thwart the govern~ ment, though there is every reason to believe that its advice on monetary matters has at times been such that prudent statesmen have had to abandon ideas which for the moment they had thought were feasible. One of the ideas to which Labour leaders cling with such determination is that governments can make money do anything it pleases. And this despite the very severe lessons which the world has had to learn during the last few years, which have proved that currency, banking, and every other branch of economics have to follow very definite and well ascertained laws, disobedience of which inevitably brings about catastrophe. That Labour wishes completely to dom-mate banking in Britain is clear from another plank in its platform concerning the proposed cstablishment of a national investment board) to make the best use of the nation's savings. Against this it has to be pointed out that the British banking system has served the nation well in the past and it is extremely doubtful whether the majority of public opinion would support any attempt to interfere with it.
When the sop offered the workers in public-owned industries with regard to hours, holidays and wages is compared with what Labour desires to make public owned, only too clear what votes it is trying to secure for the next general election. Its programme contains proposals for the public control of all: rail, road air and coastal shipping, public. ownership _and operation of railways, the coal industry and the-gas and electricity services. The Labour Party "is making a bid for the support of the largest organised bodies of workers. in the country, In effect the Labour Party implies the promise to these people that if it returned to power it will bring about a state of affairs in which a food time will be had by all. But lection promises very often fail to withstand. the searching tests. of responsibility when the party which makes them gets into power. Public ownership and operation of services has nol proved successful the past, in quite a number of eases has turned out to be disastrous, and in existing instances where the state is in full control of industry it has yet to be shown that the condition of the worker has in any way improved. The reason is thut no matter who owns or controls industry it is still sub-Jeet to the inexorable laws of economies and even the best in-mentioned government cannot in the Jong run afford to pay any more for its Labour than it is worth without inviting trouble. Those are considerations whivi will naturally appeal to those inclined to throw a searching eye over these present proposals of the Labour Party, though it is undoubtedly the case that to the unthinking portion of {he population of the British Isles the prospect of better times which the Labour programme offers. will prove attractive, Fortunately wholesale "nation alization is not a new idea to the British reader. It has bet advanced as the panacea for woes for decades past, and has not yet succeeded in" -convincing' the elector of its real effectiveness, It is, moreover, badly handicapped by the contemporary experience other countries, and. may be con~ sidered to carry with it less eon-Vietion than formerly might have been the case, 'The Labour Party will be noticed, is not proceeding like the Communists, and suggesting that itis the duty' of the worker {o build for posterity, to endure that 2 paradise might be founded for future generations; it isin fact offering the worker an immediate millennium regardless of cost. The reckless generosity of the offer may be the best contributing factor to the ultimate defeat of the party at the polls. It is, of course, incon~ ceivable that when the next General Election comes the National Government will command $0 large majority in the House of Commons as it does now. That it will be tetumed to power seems more than likely on the very excellent showing it has made since the exists of 1981, and the prosperity. which is now the reward of the years of welf-denial which the government persuaded the nation to endure, In the face of such a record' the National Government has little to fear from such a programme as that which the Labour Party will shortly issue, To a very great extent it has even deprived the Labour Op~ position of effective ground for criticism, for in some. instances has adopted measures which Labour did not dare resist, and would have sponsored themselves it they had happened to think of them first. It may be safely assumed, therefore, that unless the Labout leaders can obtain. some= thing more. inspiring than this recital of old policies, it will be a long time before they attain the power they $0 earnestly desire,
Text read from the printed page and cleaned; old type leaves the occasional error.