EUROPE’S FINANCE

Hokitika Guardian, 30 May 1932, Page 5

EUROPE’S FINANCE

LIKELY COLLAFSE

FORECAST BY MR AMERY.

United Prene Association —±,y Electro, 'ieltgrapn--Uopynghi/G

LONDON, May 28

“A. complete coikp.se is likely .iq Europe during he .next few months, and we may face a graver situation than the United States,” said ,Mi Leopold Ameiy, M..P., in a speech at Ox ord. “The monetary standard of the world cannot soon bp..restored, and little tail bo expected .i-oni the Lausanne Conference in the immediate future. While the relief would cniy be light, even if the war debts were remitted, there is little ho])c here o! that, because France is unlikely to give anything to Germany, which may soon be governed by Herr Hitler. “The United States could help the world if she changed her fiscal policy and became readier to lend money There has been a temporary adverse trade balance, but, unfortunately, the United States are unlikely to lend money outside the British Empire. Our policy of shutting up the Empire might do more to restore ,th© world’s monetary system than it would cause in damage by excluding competitors, Thp only step to meet the difficulty is the establishment of n British system of sterling and a central bank for the Empire.” ! :l