Tides Of Fate Running Out, Says Mr. Dalton

Chronicle (Levin), 12 September 1947, Page 5

Tides Of Fate Running Out, Says Mr. Dalton

(N.Z.P.A.-

—Reuter,

Copyright )

Received Priday, 12.30 a.m.. j . LONDON, Sept.l'l. Mr. Dalton, speaking at the opening session of the second annual meeting oi the International Monet'ary Fund. and International Bank, said the fund and bank faced a grave new challenge.. Events had overrun all calculations and, the tides of fate were fast running ouf. The economic situation and prospects of almost all countnes represented at the meeting had worsened markedly and rapidly. "We are meeting under the shadow of an international economic emergency. I am sure you will wish to consider all possible ways hy which the fund and bank may make, within the next few months, even larger contribution towards solving the urgent problems confronting us and toward. helping to stave off the economic disasters which threaten so many of our members," he said. ' ' The first necessitv f or Europe is a great increase in production and international trade. This, within the framework of c.ooperation between governments, is the key to recovery.'' "Each nation can and must go a great way along the road to recovery through its own elforts but most cannot go all the way unaided. Such aia can come partly from the fund ana bank. ' ' There are grave dangers in many countries of economic collapse and sociai dissolntion iif this critical intervai necessary for recovery. Even those fortunate nations on whose countries no bombs fell and through which no enemy forces marched, are Andissolubly bound, by ties of common interest, to the battered lands of Europe and Asia."