BRITISH DEPRESSION AND UNITED STATES PROSPERITY [To the Editor of
the SPECTATOR.]
Snt,—Many people arc eager to make comparisons, but seem quite oblivious of the fact that there is absolutely no analogy between the two countries, Great Britain and the United States. Having resided in the United States for eight years from 1908-1910, I had ample opportunities of comparing the trade conditions then existing with those in Great Britain.
The United States of America is a vast continent (self supporting) with a comparatively small population, while " Industrialism " is not paramount as is the case in Great Britain, where out of a population of 44 millions in an area smaller than New York State only about one and a quarter millions are engaged in agriculture. The United States also possesses a vast home market, plus a foreign market which at present absorbs all surplus products, and is enjoying the prosperity Great Britain experienced between 1840 and 1890 when manufacturing for the rest of the world.
Great Britain's existing depression is due to the rise of other nations (notably the United States and Japan) who compete with her in neutral markets, while the neglect of " Agriculture " while concentrating on " Industrialism " has led to a serious depopulation in the rural areas and consequent congestion in the urban districts.—I am, Sir, dre.,
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