THE STATE, INDUSTRY, AND THRIFT.
[To TN X EDITOR Or THE " SPECTATOR."] SIR,—In the article entitled " What Will They Do With ItP" in the Spectator of August 14th you describe how you would give certificates of exemption and badges to workers eligible for Army service who are employed in munition factories, in mines, railways, and in any industry necessary for the production of munitions. Yon overlook a large class of workers who, in the interest of the State, are equally necessary to carry on the war. A most material fact frequently overlooked in this connexion is that four-fifths of our bread and one-half of our meat are imported from abroad, and these imports have to be paid for. We have not sufficient gold to pay for them, and payment must be made in other commodities, chiefly manufactured goods, such as cotton-cloth from Lancashire, linens from Belfast and Dunfermline, jute-cloth from Dundee, linoleum from Kirkcaldy, &c. In the textile trades women are largely employed, but a certain number of men are necessary. These men add to our fighting strength as much as the makers of shells and guns, since they provide the wealth which enables the State to continue its day-to-day existence. Our Fleet gives us the command of the sea, but this highway is worth less if we are destitute of the wherewithal to pay for the food daily brought to our shores.
How important is this consideration is illustrated by the disquieting fall in the American exchange during the last few days. The normal rate of exchange with New York is 4.88 dollars. This signifies that £100 in London will buy 488 dollars' worth of goods in America. In spring the rate stood about 4-80, while daring the summer months it fell to 4.77. Last week there was a sharp fall, and on Saturday the rate was 4.71. This means that what normally costs £100 in America is now costing us rather more than £108. Our manufacturers are not able to produce a sufficient quantity of goods to exchange for the commodities which we must import from abroad if we are to maintain our fighting efficiency.
This explains the peremptory call now being made for the exercise of thrift by all classes of the community. We ought to stint ourselves of sugar and everything else that comes from abroad in order that we may have less to pay to foreign countries; and we ought also to be economical in the purchase of clothing and other things made in this country in order that our manufacturers may have a greater quantity of goods to send to foreign markets. This aspect of the economical position in relation to the war is difficult to apprehend, especially in these days of high wages and handsome profits. Probably the Chancellor of the Exchequer will bring it home next month by the imposition of heavy taxes on everything which can be described as a luxury. Many people regard as necessaries to-day what our fathers thirty years ago counted as luxuries, and there is a large field waiting to be drastically dealt with by the Treasury officials. Few persons who use motor-cars for pleasure realize that every gallon of petrol con- sumed and every ounce of indiarubber worn from their tires directly impair our strength for carrying on the war. They signify so much wealth sent abroad for which there is no return, unless the enjoyment of those who use the motor-car be counted as of material value.—I am, Sir, dca.,
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