AMERICAN SITUATION

Hokitika Guardian, 30 September 1933, Page 8

AMERICAN SITUATION

BRITAIN’S POSITION. LONDON, September 13. Every nation in Europe while strenuously striving to adapt its local circumstances to the revolutionary changes in long-ostablisej economics, is watching the widely differing policies of Britain and tlie United States with microscopic care and feverish interest. The Board of Trade return reveal steady improvement in the trade activities in England, together with an increase in food prices, which must greatly assist farmers and re-act on retailers. Poor law relief fell 6.3 .per cent during the quarter ended June 30. Commodity prices are also on the up grade but the imminence of a hard winter may arrest the advances. American captains of industry who, two months ago, were afraid to leave thoir desks, are now coming to England and the Continent, buoyed with confidence that President Roosevelt’s various devices will accelerate trade recovery. They claim it is the most stupendous economic social revolution of all time, and that the panorama of efforts, condensed into a field which trained eyes and minds can quickly gr.:;«p, gives evidence that the revolution is making reassuring .progress towards the objectives.

France and Italy, like Britain, however, remain somewhat sceptical viewing Washington’s sudden regimenting of 120,000,00 opeo.pl© as a gamble with fate. Paris bankers are prophesying that .'resident Roosevelt will be forced to ,inflate, which, in.turn and time, will, in their opinion, ruin his plans. At the ’ same time, if President Roosevelt appeared reasonably sure of winning: out ,European nations would hasten in bis footsteps .