A STATE-AIDED REVIVAL.
Yet another explanation of the lack of complete confidence in business circles, more especially, perhaps, in this country, is to be found in the knowledge that a considerable part of the present revival in home trade is directly connected with rearmament expenditure by the Government, and although such expenditure seems likely to continue for a considerable period, there is such a vivid perception of the extent to which the present trade activity is connected with Government outlays that we are constantly reading articles anticipating the possibility of a slump when these special orders come to an end. And in the United States; although it is not a case of the greater activity in industry being based upon Government armament expenditure, the revival has none the less been directly connected with Government measures. Therefore, there is this point of similarity be- tween conditions on both sides of the Atlantic, namely, that the developments in the last few years have been due more to the initiative of Governments than to a revival in initiative in private enterprises. * *
Previous page
