FALL OF PRICES

Rotorua Morning Post, Volume 2, Issue 221, 12 May 1932, Page 5

FALL OF PRICES

(British Official Wireless)

tfTERNATIONAL CO OPERATION NECESSARY TO AVERT CRASH MR CHURCHILL'S VIEWS

RUGBY, Tuesday. During the second day's debate in le House of Commons on the secid reading of the Finance Bill, Mr. Gilston Churchill made a strong deand for international action on the oney problem. Capitalist civilisation, he said, was irift, and no single Power was rong enough to take the helm. The trength of three or four of the ■eatest Powers would be required. He did not believe that individn.il lrelated inflation or individiual tnited credit expansion by the various itions would solve the diffieult-es. iternational action to arrest the fall r prices was the sole hope of avertg a world crash, and he urged the lancellor of the Exchequer, (Mr. eville Chamberlain) to reconsider his ieision, as announced during last ght's debate, that at present a curncy conference could not be calLd. He approved of the specific proposs made by the Government, and reinled fariffs as necessary, but only wrld action could eure a world evil, ®d no such action could be taken Scept through co-operation between gitain and the United States. ■"I regard international action to Srest the fall of prices as the sole [i®pe of averting a world crash, com sBrpd with which everything we have eBffered to date would be a mere no«ing," concluded Mr. Churchill. vS ■'