AMERICA’S PROSPERITY
A BANKER'S EXPLANATION Recent cables have quoted economic authorities in Europe as opposing the idea of a European Customs Union or lower tariff schedules between the various Continental countries on the ground that the United States lias maintained a high tariff and flourished amazingly under it. At one of the recent annual bank meetings in London a somewhat different view was taken. J. W. Beaumont Pease, chairman of Lloyds Bank, said to his shareholders regarding the United States: “That country offers us some valuable lessons as to what we should strive for and what we should avoid. The absence of restrictions of trade which she enjoys within her own borders present us with an example which Europe has been advised to follow in the document known as the Plea of the Bankers, which was published last October. Her greater recognition of the community of interest between employers and employed is another factor contributing to the unexampled prosperity she has experienced in recent years. We have here a double lesson of the truth that trade is not warfare, and that if trade is to flourish it can only be in an atmosphere free from disturbance.”
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19270413.2.105.9
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Sun (Auckland), Volume 1, Issue 19, 13 April 1927, Page 10
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196AMERICA’S PROSPERITY Sun (Auckland), Volume 1, Issue 19, 13 April 1927, Page 10
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