MUCH STILL TO BE DONE

Dominion, Volume 28, Issue 103, 25 January 1935, Page 11

MUCH STILL TO BE DONE

Restoration of Normal Prosperity j STABLE BASIS FOR TRADE London, January 23. At the annual meeting of Barclay’s Bank the vice-chairman,,. Mr. William Favill Take, who presided, said that he feared that the full tide of prosperity, such as would enable unemployment to be reduced to a normal level, was not yet in sight. Britain’s progress since 1931 was the envy of other countries. “but it is ijlle to think.” he said, “that we can obtain .the standard of well-being which is our aim, while International trade is cramped and restricted as at present by tariffs, quotas, exchange difficulties, breakdown of overseas lending, restriction of production, political uneasiness and extreme nationalism. “There are developments which suggest that the world is gradually emerging from the depression, but much is yet to be done before we can hope to return to the’level of prosperity which the progress of science and invention has made possible. We must have a stable basis for international trade before its volume can be substantially increased, and gold is the only practicable basis, but it would be a mistake of the first magnitude for Britain to return to gold until some of the difficulties previously mentioned have been adjusted.”