OPTIMISTS ABOUND

Rotorua Morning Post, Volume 2, Issue 307, 22 August 1932, Page 4

OPTIMISTS ABOUND

Lord Irwin, who has cleclarec his belief that the economic storm in Great Britain is beginning "to blow itself out," is not a solitary optimist. Messages from London state that commercial leaders at Home are beginning to be more cheerful in their outlook, and Sir Ernest Benn has said there is ample justification for "sober-^minded .op'timism." T'he "Economist" adds to the volurne of good cheer by saying that the "steepest phases of the depression have passed." AL this is heartening, especially so when taken in conjunction with the reports from New York concerning an lmprovement in conditions in the United States. Optimists have never been needec. more in the world than they are to-day. The process of recovery must be slow while the way is impeded by that most constant companion of pessimism — lack of confidence. During the past few weeks there have been signs of increasing magnitude justifying the belief that the world is at last able to raise its head from the economic morass created in substantial part by the Great War. The agreement at Lausanne, although conditional, marked the turning of the tide. There for the first time was recognised the principle that the welfare of one nation could not be prejudiced without all others being affected. At that conference international co-operation became something more than a phrase, and the world has benefited by it. Further co-operation should result from the World Economic Conference in which the United States will participate. America is the only uncertain factor at the present time. Once she reconciles herself to the fact that she must give relief to Europe just as the European nations have relieved Germany, the way will be cleared

for complete recovery. Some of her enlightened leaders are prepared to admit the truth now, and they have only to keep hammering their message into the American mind to carry the day. If she uses her position as a creditor to impress upon all nations the necessity for curbing wasteful expenditure on armaments, she will be a tremendous influence for good. Recovery may be slow, but the world is now on the way back, the pace of recovery depending on the leaders of the nations, and to lesser extent on every thinking person living in these momentous times.