HELPED A LITTLE

Rotorua Morning Post, Volume 2, Issue 596, 29 July 1933, Page 5

HELPED A LITTLE

Assn.-

I INTERNATIONAL OUTLOOK I FAILED DURING [ CONFERENCE hl MACDONALD'S SPEECH

-By Telegraph — Copyright).

■ Rec. July 28, 7.0 p.m. | London, July 2S. MacDonald in the course of Bdosing sjieech at the World Ecol^ic Conference, said that the. need agreement was greater than it Biever been. Neverthless there. was l^oubt that the mere meeting of the |%'ence had contributed to the. ■iade revival. I sudden interruption of the ■^lency problem had emphasised the ■^essity for an appreciation of the ■*srnational aspect of certain facts. ■ Onless this international aspect H toold be appreciated, the only exit I boin the present position would be I ' series of state and private deI ^llts with disastrous and perhaps I ,evolutionary results. I Beliberations regarding the mone15 Problem coulcl not be postponed Pefinitely. Prosperity depended jipon responsible co-ioperation not l^on irresponsible independence. An I Iafenational monetary adjustment |£0ldd not be reached if each country l^d as to the ratios for an interl^ional exchange value and rnain|'3ifled it against speculative market ptuation. I .^0 greater part of. the delibera""s of the conference had been conI E£rned with settling prices round a corresponding with costs. An Jcrease in the effective consuming ernand was necessary to effeet a [ l^manent improvement.