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During the war we had to stop producing the everyday things which we need in peacetime. We had to concentrate on war production and the bare necessities of existence. The natural result is that to-day we are short of the things which we need. ... You may ask why cannot we get what we want from abroad? The answer is that we can only get it if we can pay for it. Before the war many of the things which we got from abroad—food and raw material—were paid for by the interest on foreign investments, and by services rendered by us to people in other countries. During the war we had to sell our foreign investments to pay for the arms, food, and other things we needed. Apart from any temporary relief we may get by loans from our friends across the Atlantic, we can only buy from abroad now if we can pay by exporting goods or rendering services. (en) |
