Best Hope for Future of World

Hawke's Bay Herald-Tribune, Volume 81, Issue 15, 11 October 1937, Page 7

Best Hope for Future of World

fBritiah Official Wirele««-»

PRESENT IMPEDIMENTS

(Received 11, 10.40 a.m.) RTJGBY, Oct. 9. An optimistio view of the future waa taken by the Chancellor of ihe Ex chequer, Sir John Simon, when ppeak ing at the Lord Mayor's dinner _tc bankers and merchants at Mansiqu House, He said that Britain's internal position was sound, for while there had been some rise in prices this had been accompanied hy^a great increase in production and employment, In inter national trade there had heen a definitf improvement during the past two years from the very low levels of the crisis period, But, though the trend was more favourahle, much remained to be acbieved in the revival of international trade. Widespread impediments to trade practised by so many countries in tlie form of exchange controle and otherwise constituted a most serious hindrance to export trade. There are limits, he said, to the extent of progress in any country or even in any group of countries as long as they sought to "he self-sufficient and to act in isolation, The best hope for the future lay in Jinking up the different countries of .the world by the resforation of international trade, which would stimulate consumption all around and reinforce expansion of the internal market with a parallel expansion of foreign markets/ Paying a fribute to the efforts which France was making to overcome her difficulties, Sir John Simon welcomed the recant speeches by the Premier, M. Chautenjps, and the Minifter of Finance. M. Bonnet, reaffirmintf their infenticn to maintain the pohcv laid down in the tripartite deqlaration by Britain, France and the Dnited States. He especially welcomed tho assurance that France was detqrmined to avoid any measure of exchange coutrol.