DIVIDED MIND

Rotorua Morning Post, Volume 2, Issue 563, 21 June 1933, Page 5

DIVIDED MIND

DEPRECATED IN ENGLAND Rec. June 20, 11 p.m. London, June 20. Tho Daily Telegraph says: "It is difficult to minimise the siirprise and disappointment in English financial circles at the news that Mr. Roosevelt rejected the teinporary stabilisation of the dollar. "Once again America's money policy is drifting. Without stabilisation, neither tariffs nor other matters can he discussed with any prospect of success. The spectacle of currency being deliberate-ly depreciated until it reaches the level favouring that coun-

try's export trade, is comparable to steering by a shifting landmark. The danger lies in Britain drifting into a united European front against the United States, a position which was only with difficulty averted at Lausanne.'* The Times says: "Some of Mr. Roosevelt's advisers have their gaze fixed on the national situation and so aro blind to interhational aspeets, while others are preoccupied with the world cause of the crisis, thus the lack. of co-ordination is proving disconcerting to the conference. "It would almost appear that the Americari delegation had been sent without a definite idea o'f the obj'e'ct it was expected to pursue. It is possibie that there will be a more effective direction when Professor Morley arrives. He is regarded in the United States as the leading advOcate of purely American remedie's, while Mr. Hull is prominent on the. international side."