22 MARCH 1930, Page 1

There is bound to be a time-lag in the adaptation

of employment to more highly organized industry. More science, not less, is required to make the time-lag as short as possible. The time-lag is not confined to this country. In the United States and Germany and in some of the British Dominions there is as high a per- centage of unemployment as here. The fact is that temporarily production has outpaced the capacity of people to consume. The only immediate means of raising consumptive capacity is to throw down the tariff barriers. Unfortunately homo sapiens has not become sufficiently sapient to undertake an enterprise of such immense common sense. People have the capacity to consume all right, if only they can get the benefit of the lowering of prices which would be the sequel to perfect freedom of exchange.

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