The Guardian And Evening Star, with which is incorporated the West Coast Times FRIDAY, JANUARY 27, 1933. THE OUTLOOK.

Hokitika Guardian, 27 January 1933, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times FRIDAY, JANUARY 27, 1933. THE OUTLOOK.

The prospect of the. success of the World Economic Conference is said to rest mainly with 'the attitude of tiie Uiaited States. If this Le so, the material improvement from that source is likely to be restriaed. America has made it plain that it is not deoiled to consider war debts and tariffs, and this attitude cannot be very Helpful for a general success. The war debts hang like a pall over Europe, and it has been shown of late some of the (Amterican debtors, laro not prepared to pay, while those paying, have indicated that future payments are in doubt. Just what America will do in such circumstances remains to he seen. 'The United States is swapping Presidents at the present juncture, and there may be many changes in the national policy when the opposing political party takes office shortly. Between the retiring Republican party and the incoming Democratic party there is a wide difference in public policy, and the Hoover embargo on World Conference may give place to a more favourable view. The President elect, has been able to watch recent events and to note the feeling of the European nations. That advantage should help him to shape a more acceptable policy on the war debts, and give the countries affected some hope of relief. In taking a view of the internal situation in America it will be realised that the country has its own financial problems, and in the end it can be generous only so far ns its iciwn Renditions will permit. America, has a high tariff barrier to assist internal trade, but that has not been accomplished, and . there are millions of unemployed : in: the country. The .exports, have shrunk in such a way as to cause a financial stringency. This may be a reason for the Democrats to shape a policy where'ey debts and tariffs might be adjusted to encourage a trade revival with her oversea dehtore, which would help to reduce unemployment. The financial position of the States no doubt delays action, but tlje stress in Europe grows more stringent and relief must come from some quarter, or there will be an international breakdown. Forseeing this contingency there has been the desire for a World Economic Conference to help out of the difficulties. Most of the nations are ready for it, and a good deal of preliminary work has been done in some countries to anticipate and facilitate the work of the Conference. The League of Nations in particular has compiled much financial data, and a New Zealander, Professor Condliffe, has published a World Economic Survey (1931-32) for presentation to the Conference. No doubt each country knows a good deal about the causes of the present situation, and the work of the Conference should bo in the direction of affording relief. New Zealand for instance could be helped greatly by a rise dn produce prices, and can help itself by producing more gold if the proper organisation were at work. The real difficulty is to lift produce, prices when the volume of produce is increasing so, and artificial adds are not the real panacea. Perhaps the World Conference could find a way out. The time is ripe for such an event, for the world is hungering for better times.