Currency question -- Great Britain; Finance -- Great Britain; World War, 1914-1918 -- Economic aspects -- Great Britain
Many things that are now happening must be tickling the sardonic
humour of the Muse of History. The majority of the civilised Powers
are banded together to overthrow a menace to civilisation, carrying
on a war which, it is hoped, is to produce a state of things in which
mankind, purged of the evil spirits of militarism and aggression, is
to start on a new order of co-operation. At the same time, while
we are engaged in fighting under banners with these noble ideals
inscribed on them, a large number of citizens of this country are
airing proposals aimed at restrictions upon our intercourse with other
nations, especially in the economic sphere. In last month's issue of
this Journal a very interesting article, signed "Veritas," discussed
the question as to how far it was in the power of the Allies to make
use of the economic weapon against their enemies after the war. That
such a question should even be mooted as an end to a war undertaken
with these objects, shows what a number of queer cross-currents are
at work in the minds of many of us to-day. But some people go much
further than that, and are advocating policies by which we should
even restrict our commercial and economic intercourse with our
brothers-in-arms. If the clamour for Imperial preference is to have
any practical result, it can only tend to cultivate trade within the
British Empire, protected by an economic ring-fence at the expense
of the trade which, before the war, we carried on with our present
Allies. And a large number of people who, under the cover of Imperial
preference, are agitating also for Protection for this country, would
endeavour to make the British Isles as far as possible self-sufficient
at the expense of their trade, not only with all their present Allies,
but even with their brethren overseas.
Public-domain text, read in full here on John Shaqi.
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