MONEY PROBLEM
(Press Assn.-
gold fluctuation MUST CHECK DEVALUATION DECLARES WINSTON CHURCHILL "A MONSTROUS PROCESS"
— By Telegraph— Copyright.)
LONDON, Thursday. "Through a rise in the price of gold debtors everywhere are required to pay 70 per cent. more than a few years ago," declared Mr. Winston Churchill at a city luncheon. "If the monstrous process continues it will shatter civilisation as it has already shattered prosperity. "War debts have caused the disease, but the cancellation of reparations will not cure it. We must check progressive devaluation in human effort in terms of gold. Therefore, I am glad the Government favours the world monetary conference. Those fearing it ought to remember the stern fight Australians and New Zealanders are making to preserve solvency and honour. "The Governments may enforce saerifices on all classes, but a fresh rise in the value of gold would wipe out all they have done. "The only solution is an international agreement to revaluate commodities and provide a stable measure for the exchange of services and goods."
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 253, 17 June 1932, Page 5
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170MONEY PROBLEM Rotorua Morning Post, Volume 2, Issue 253, 17 June 1932, Page 5
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