WORLD FINANCE

Rotorua Morning Post, Volume 2, Issue 217, 7 May 1932, Page 5

WORLD FINANCE

ress. Assn.

VlR BORAH, S VIEWS ARKED RECOVERY OR WORSE I MISERY THIS ! YEAR GOLD OVER-VALUED

— By TelegiiLph — Ccpyrlgnt).

| Rec. May 6, 7.50 p.m. | WARRINGTON, Thursday. Senator Borah, chairman of the nate Foreign Relations Committee, dressed the Senate on world hnce problems. He predicted that the mmer would either mark the beining of a world recovery, or denote eater misery than any heretofore perienced. He outlined a three-point platform restore prosperity, namely, the rection of armaments, the settlement the reparations problem and the ;toration of silver to the place It :upied prior to the foreign demoneation of 1925. Senator Borah quoted statistics oiving that war costs represented per cent. of the world's budgets. ! discussed the impending failure of i Geneva and Lausanne Conferences d criticised the White House's faili to call an international silver con■ence, and at the same time charterised England as the only nation it seemed to be recovering. rhe speaker insisted that there ould be some relief from the gold sntality. He explained that the lited States and France held 70 r cent. of the world's gold, leaving3 balance of the world approximate8/- per capita, which was not DUgh to transact business with, and a result, half the human family toy, were on the basis of barter, their rchasing power having been deoyed.