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Hokitika Guardian, 26 July 1932, Page 4

The most helpful result from Ottawa, would be -a rise in commodity prices. Indeed were prices for produce normal, instead of sub-normal as ■' they Ij’ave ruled for so long, the. economic discussions in Canada at this juncture would hardly have blean'.necessary. The fall in prices for products generally is attributed to the depression, which in turn is caused by the inability of oversea, customers to purchase at the former higher rates. The maikets of the world are suffering from the same genuiraJ complaint— r a stagnation due to falling trade resulting from lower prices. The great countrios of the World in common with the lesser do not escape the consequences of the economic situation. , The wealthy United Stat'.-s has a larger army of unemployed than Germany, and it hrr a long record of ruined fanners, closed banks, and a honvv State, debt. The State has contracted a good deal -of its present trouble by its high tr-iuff walls which shut out imports and prevent tjie countries paying their way ti'ttvugh goods. is significant of the vicious circle, arising from e desire‘to netalfqte on someone else. It is hromerangrlikc in its effect. Some writers have been at pains to show that Prussia is the catn/°, of world troubles, because of tho plan to flood the worid with cheaper goods than can be produced by other countries. This cannot be the l whole cause, and event if it v.rre, Russia is exhaust'ng her i lanlioo, 1 in the effort, for it is only <Sy sacri'.lce in the country that semblance of wo - Id-flooding may go on. Whatever the main cause of the situation, the British Empire is looking to Ottawa to provide, if not a way out, some means of lessening the

effect of the present general stringency. Tine 'leading statesmen of. the Empire are associated, and there is toe...best evidence that Britain is anxous to dev.Jop a jiojicy to ensure the maim tenance of tile commercial and financial strength of the Empire. Tu'is should include a : measure' of interdepenUencb in which' trade will take a prominent place, and arising from that is the hope of tlx© reviyaii looked for, which at (least' in part, wiJl rem-ovi. the pervading depression and lead to a re-openiug of industry and the ex. paiitaion of employ m.nt.