"Churlish Attitude"

There are two kinds of British businessmen. One is afraid that U. S. investors will buy control of British firms, bulwarks of the Empire. Therefore he harries the British Government to legislate against "dollar penetration."

The other sort of British businessman follows the lead of certain "Young Turks" among London stockbrokers who have recently been advising British clients to take their money out of "moribund" British industries and invest it in the U. S. This group highly approves of investment by U. S. citizens in British companies, the more moribund the better.

In London last week Rt. Hon. Sir Robert Home, onetime (1921-22) Chancellor of the Exchequer, contributed to this vital subject a parcel of impressive words.

"In the next few years," said he, "American money may be just as useful to us as ours was to them in the half-century following the Civil War. In fact, I am not sure whether the world needs anything for the rectification of its financial and economic position so much as a rapid and widespread investment of American capital abroad.

"I am dead against any policy of narrow monetary nationalism in matters of trade. Certainly we, who have thousands of millions engaged in foreign enterprises all over the earth, should be the last people even to contemplate a churlish attitude toward capital merely because it is foreign."

Sir Robert is Chairman of Burma Corp., which once employed Engineer Herbert Clark Hoover.

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