WORLD CONDITIONS.
A HOPEFUL OUTLOOK.
EUROPE STILL A SORE SPOT. STABILISING GERMANY. (By Cable.—Press Association.—Copyright.) (Received 10.30 a.m.) WASHINGTON, January 1. Mr. H. C. Hoover, Secretary for Commerce, has issued a statement reviewing the world condition in 1923. He says that the Western Hemisphere, Asia, Australia, and Africa are achieving a high degree of economic recovery, but the chief sore spot continues to be Europe. Russia is slowly progressing, with gradual abandonment of communism and socialism, and if it be possible to reconstruct Germany's financial position and secure such assistance for France as will stabilise France, then the world will have entered a period of great hope and promise of prosperity.
The outlook lor 1924 is favourable. America lias exhibited extraordinary strength, and. progress. She has balanced her budgets, has a stable currency and high production, accompanied by proportionate consumption and savings, with absence of speculation and extravagance or inflation. American exports in 1923 totalled 4.100,000,000 dollars, and imports 3,800,000,000 dollars.—(A. and N.Z. Cable.)
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Auckland Star, Volume 55, Issue 1, 2 January 1924, Page 5
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164WORLD CONDITIONS. Auckland Star, Volume 55, Issue 1, 2 January 1924, Page 5
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