NEWS AND NOTES.

Hokitika Guardian, 13 June 1932, Page 3

NEWS AND NOTES.

the LATEST VICTIM TO GOLD. ‘‘The Hungarian crisis is but one of. the many calamitous results of the attempt of the- creditor-nations to demand payment of huge debts -in gold instead u! goods. Gold has therefore been u eci us a commodity instead of as a medium for the settlement of moderate- international trading balances, and for- effecting minor adjustments in price levels. The gold standard was never intend. 1 to be used in that way. Unless and until (tariff practice® 1 1 '•'•dici;-: are drastically -revised there * can be no return to the gold standard ; some other -standard wilt! have to be evolved before the wheels of finance and commerce can revolve smoothly once more. Debts would not be 'so excessive but for the difficulty of discharging -them in goods and services. The world’s capacity to pay debts in floods is much greater than in gold, and r " flexible.’’ —The City Editor of “The Time*" (Londo”). A I 1 ’BENCH C HANGE OK HEART.

•in regard to reparations properly -so-called French opinion has progressed. It rejects, for reasons which we have specified, cancellation pure and simple -ii®. advocated here and there hv certain newspapers. It rejects it dispassionately after having weighed the pros and eons with care. But' the eventuality of a reduction cl the ‘net balance’ allocated to France is begin* ning to he contemplated with lees hostility. Suggestions implying such ;i reduction have been voiced in the public Press, and the public has received them without being startled. In view nf this the possibility of an agreement should not he ruled out. France is prepared for the most substantial concession®, but holds firmly to the prill cinle of ronnration, both for its own

:ako and as an integral part of the treaty settlement. Germany is inclined to make earn filiation aDo a matter of principle; and opinion in this country is often inclined to support, her.”—Sir William Dumpier, a lending scientist and economist, in a special .''implement of “Lloyds .Bank monthly.”