UNCERTAINTY AND FEAR

Hawke's Bay Herald-Tribune, Issue 70, 9 April 1937, Page 4

UNCERTAINTY AND FEAR

" The cause oi a large part of the world's present difficulties," said Mr Edwin Fisher, chairman of Barclay's Bank, "is uncertainty and fear for the future. As this * uncertainty has extended from the economic to the political sphere, nations have withdfawn more elosely belxind their own frontiers. Fears of currency instahility fears of industrial competition, and latterly political fears — all these have resulted in a network of restrictive measures that has only served to aggravate the pfoblems to be solved. The more effective the trade barriers and the greater the expenditure on armaments the greater the burden 0n the people and the greater the spirit of discontent and suspieion. What ijs needed is undoubtedly freer intercourse between nations, so that goods, money and people can move with reasonable ease from country to country. Trade barriers must be relaxed; an international monetary system, based upon sound foundations, must be restored. Spasmodic gestures are insufficient; there must be continudus co-operative action involving a more aeeommodating spirit in the relationships between countries and a determulation so to conduct their internal affairs as to promote confidence abroad."