STERLING COUNTRIES

Evening Post, Volume CXXIII, Issue 133, 7 June 1937, Page 12

STERLING COUNTRIES

WILL PROSPERITY LAST?

"We may perhaps epitomise the year 1936 as memorable for ushering in an extension of the sterling bloc prosperity to the rest of the world," states the Swedish Chamber of Commerce for Australia, New Zealand, and the South Sea Islands, in its annual report. The chamber adds, however, that, although something like the beginning of a boom began at the end of the year the general situation cannot be viewed without misgivings. Too many nations are pursuing a policy of secluded self-sufficiency, and, though in many cases domestic activities have developed tremendously, international trade is still lagging far behind. Too much of the apparent prosperity is based on a feverish armaments raca between the different political camps. There is an uncomfortable feeling abroad that such a prosperity cannoc "However" the report adds, "strong forces are also at work aiming to unite mankind and to free1 it from the bogy of sanguinary strife. There is a growing consciousness that no nation can live unto itself. Reciprocal trade agreements and the general extension of the most-favoured-nation treatment have provided one of the principal means by which a return to freer trade among the nations has been sought during the past year; and considerable progress has heen made in this direction."