NATIONAL ECONOMY - Lord Grey on National Economy, the League of Nations, and the Geneva Naval Conference

Sep 21, 2026

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A public address by Viscount Grey of Fallodon, published by the Liberal Council, outlining how the League of Nations eased dangerous tensions in Europe, citing the end of war between Poland and Lithuania and the role of Geneva in preserving Great Power cooperation. The speech then shifts to finance and economy, arguing that while the state can choose initial tax incidence, it cannot control ultimate burdens, warning that high taxation drains potential wealth, handicaps industry, and reduces incentives for savings and future capital formation.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages14

Reading Time35 min

AccessFree to download

National Economy

Lord Grey on National Economy, the League of Nations, and the Geneva Naval Conference

97-84074-18Grey of Fallodon,Edward Grey National economy London # COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET ORIGINAL MATERIAL AS FILMED·EXISTING BIBLIOGRAPHIC RECORD ww-- … | 308
Z | | | | --- | --- | --- | | Box 270 | | | | Grey,Edward Grey.lst viscount.
National economy:speeches by
Grey of Fallodon,Mr.Francis W.
Mr.Alwyn Parker. London,Liberal
e1927, | | 862-1933.
Viscount
Hirst,and | | | | Counc1l | | | 18 p. | | | NNC | ONLy E, | | | | | | Reproductions may not be made without permission from Columbia University Libraries. ## RESTRICTIONS ON USE: # TECHNICAL MICROFORM DATA FILM SIZE: 35mmREDUCTION RATIO: 9:/ MAGE PLACEMENT:IA IB IIIB DATE FILMED: 5hlsINITIALS: TLM TRACKING\#: Mszu FILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA. ## NATIONAL ECONOMY SPEECHES BYTHE RIGHT HON. ## VISCOUNT GREY OF FALLODON MR.FRANCIS W.HIRST AND ## MR.ALWYN PARKER 308 Bo×270 Published by THE LIBERAL CounCIL, 11,Great George Street,London,S.W.1 # NATIONAL ECONOMY 29,1930 DA/He ## LORD GREY ON NATIONAL ECONOMY,THE LEAGUE OF NATIONS,AND THEGENEVA NAVAL CONFERENCE. dy [The spech was delivered at a luncheon organised by the Liberal Cowncilat Netwecastle-on-Tyne,on December 14,1927.Mr.Angi4s Watsonpresided] LoRD GREY said the League of Nations had just relieveda point of dangerous tension in Europe by bringing about anend of the state of war between Poland and Lithuania.Itwas true the dispute was not settled,but before the LeagueCouncil met at Geneva it had reached a point at which itwas very difficult for either country to relax the tension andto avoid passing from a state of war to actual war.Unlessthere had been a League of Nations to which both countriescould resort to state their case,he_did not know how thesituation could have been eased.The fact,however,thatwhen two nations had reached a point at which it seemedinconsistent with the prestige of either of them to go to arbi-tration,or to accept a proposal of arbitration from the other,we now had a League of Nations to which both or either ofthese countries could go without derogation of their prestigeor dignity,was an immense gain to the cause of peace.An-other point for satisfaction was that where,as in pre-Wardays,the dispute between Poland and Lithuania was justthe kind of thing that might have split the Great Powersinto opposing camps,one Power or group sympathising withone of the parties,another Power or group sympathising withthe other,now the fact that representatives of all the GreatPowers could be brought together at Geneva had resultedin this :that not merely had tension between two opposingnations been relieved,but the process,instead of dividingthe Great Powers,had united them in a common and beneficialpurpose,to the great increase of the prestige of the Leagueof Nations,the establishment of another precedent strength-ening that prestige,and to a perceptible addition to thefeeling of security in Europe.(Cheers.) Turning to financeand economy,Lord Grey,while disclaim-ing being an expert in finance,said there were one or twosimple propositions relevant to the subject which to-daythere seemed a tendency to disregard.The first was thatthough the State could settle where the first incidence of anytax imposed was to be,it could not settle the ultimate inci-dence of it.“An impression seemed to be abroad that solong as there are rich people in the country with a surplus ofincome and you tax that income,you can settle that theincidence of that tax shall fall upon the people who pay thetax.In the first instance you cannot make sure of that anymore than you could make sure,if you had a pool of waterwith a deep and a shallow end,that all the water that youdraw out

FAQs

What role does the League of Nations play in the dispute between Poland and Lithuania?

The speech says the League relieved dangerous tension by bringing about an end of the state of war, while providing a forum where both nations could present their case without undermining prestige.

How does Lord Grey explain the effects of taxation on economic outcomes?

He argues that the state can set where the first incidence of a tax falls but cannot determine ultimate incidence, and that taxes drain potential wealth rather than leaving it intact.

What does the speech claim about taxation’s impact on savings and industry?

It states that increased taxation reduces savings and incentives for future saving, which lowers capital available for expanding industry, increasing employment, and producing wealth.

Sep 21, 2026

Uploaded by Eden