[To the Editor of the SPECTATOR.] SIR,—Absence abroad has delayed
my rejoinder. to " Con- science Stricken " and to Mr. Bertram Hill, and I hope I am 'not too late.
Conscience Stricken " states that there is a serious flaw in my explanation and writes :—" The interest on the foreign investment which pays for my foreign purchase will stay abroad unless it comes to OILS country in material form for which I can pay money." ' I agree. But where is the flaw ? Indeed, I actually con- tend that the interest will stay abroad, and that it will amount to a payment to the foreigner in hard British cash for foreign goods ; whereas the capital might have been invested in pro- duction at home, and the goods would have been made by workers of our own, of whom plenty are unemployed.
Mr. Bertram Hill asked what .1" mean by the term " un- necessary " when I argue that we do injury by making un- necessary purchases of foreign goods. I call the purchase of foreign goods unnecessary when it robs the British worker of a job with little or no benefit to the purchaser. If we en- courage home production we encourage the investment of capital in that production, to the benefit of our own workers.
H we make purchases withoutdiscrimination and buy foreign gOods, home production is discouraged and the " tendency " is for capital to go abroad to balance the imports. I lay stress on the word " tendency," because although " imports are not earmarked," as Mr. Hill says, yet these tendencies are always at work, and it is the job of statesmen to discover them.
The slogan " Buy British goods," is, in my opinion, a con- fession of weakness when advocated by statesmen. It amounts to an admission that British Production needs help, and I think such help_ should be of more substance than a mere appeal to sentiment. But such help is better than no help, and therefore the slogan has my support.—I am, Sir, &c., BERNARD ROCIIFORD.
The Glen Sunninghill, Berks.
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