"ALL IN THE SAME BOAT"
By Sir Josiah Stamp, British railway magnate, and a director of the Bank of England, in a broadcast address on the World Economic Conference. A country may certainly work wisely to restore its prices from their disastrous level, but doing so by itself is difficult and sometimes dangerous, for it may jeopardise the prestige of its money abroad, and it may start repercussions in exchanges which make other countries do things to keep their balance and thus add to the network of restrictive and special measures which are throttling
the trade of the world. But it au countries together at the same time take similar measures this risk is removed, and that is the reason why collective talk is so essential. Exactly how far trade troubles disturb monetary systems and how far monetary systems disturb trade is a ticklish matter, and doubtless there is room for the experts to have a good deal of difference of opinion on many points about remedies to be ap-p-lied. But there is no room whatever for distrust or suspicion. In this question of the international lnfluence of monetary systems we arc all m the same boat together, and we want to find out what it is that so upsets both money and trade, and work together for common recovery.
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Rotorua Morning Post, Volume 2, Issue 547, 2 June 1933, Page 2
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220"ALL IN THE SAME BOAT" Rotorua Morning Post, Volume 2, Issue 547, 2 June 1933, Page 2
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