The Guardian And Evening Star, with which is incorporated the West Coast Times WEDNESDAY, OCTOBER 28, 1931. INTERNATIONAL FINANCE.

Hokitika Guardian, 28 October 1931, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times WEDNESDAY, OCTOBER 28, 1931. INTERNATIONAL FINANCE.

The French Premier has been received in the United States with all the holier hey to wed on an' American hero. This is interesting, and evidences the fact that the public is aie.t to the world situation, and the possibilities of the French mission. M. do Laval is to confer with President Hoover on several aspects of international finance, and the situntion is pregnant with hope tor some recovery of the present stressful conditions. Before proceeding on his mission, the French Premier had the opportunity of conferring with Lord Reading, itlic British Foreign Secretary, who went to Paris, for toe purpose. It may be assumed that the United States (trip was discussed, and some .inter-understanding airived at regarding important fiscal matters disturbing the international trade and Pinking for difficulties. 'lt is a fact that while the: United States and France are the gold countries-, Britain remains, an important 'money Power, and cannot be left out cf the picture if any grouping of the financial countries is to come to pass. Throughout the late crisis in England, both the gold countries extended their help, so that ,fhe* relations may be considered intimate. The conversations will not be public, which is as well, for there can then he a clearer expression or opinions. Ft- has do be remembered than in .Tilly President Hoover made his offer in regard to the moratorium for world debts for a year. The offer did not colue too Soon but France was not agreeable to the course proposed, and «vs a consequence international finance did not derive the benefit hoped for. Any further move along the same lines require to be concerted to be fully effective. It is within the power of the United Stptes, France and Great Britain, acting in concert on their matter to produce results of a far-reaching nature. Tn any ea c e it seems urgently necessary that Germany should have relief and once the principle is applied it must be shared all round. The war debts are the burden of the nations crushing them down, and hv the draining' of the home finances wrecking industry and labour. The world is very much out of joint financially and a prompt remedy is called for. The world needs a revival of trade and industry, and it can come directly if the”e was an easing of the war debts burden, which would lessen taxation and provide more free money for internal advancement. The state of the world’s trade indicates that prosperity must, be general if ( the future is to he made permanently brighter. It is perhaps fortunate that at this importan. juncture, the trade of Great Britain is reviving. Opinion js divided whether it will be permanent, or is only a pausing phase following the going off of the gold standard. Better and brighter trade in Great Britain will assist to re-establish the country’s financial -status, and any negotiations between the. United States and France must take Britain into account. The' outcome of the discussior.« now proceeding will be- of interest to the- noild at large, and this Dominion would participate in any readjustment of the world’s trade. Raw prodccts such as New Zealand produces, will find a market always when trade is flourishing and the fillip of an enhanced export trade would help this country greatly. The plight- of world fima-re governed by its trade, suggests mwcd'ditles in the meeting on the President and the Premier.