BRITISH BUSINESS.

Auckland Star, Volume LV, Issue 307, 27 December 1924, Page 7

BRITISH BUSINESS.

PAST, PRESENT AND FUTURE. AN OPTIMISTIC OUTLOOK. WORLD REGAINING BALANCE. GOLD STANDARD VERY SOON. (By Cable.—Press Association.—Copyright.} (Received 11.30 a.m.) LONDON", December 26. The commercial editor of the "Observer" commenting on the international trade revival of 1924, points out that the fervent hopes of a large section of British industry has not been realised. There has, however, been real and solid progress and a better foundation built for the building up again of world trade than at any time since the armistice. The Dawes plan, the defeat of the Radicals at the polls in Britain and the United States, and the curbing of Communist propaganda in France, has resulted in a return of confidence, the lack of -which previously retarded post-war recovery. This is evidenced by the rise in sterling. There is a deep-rooted feeling that Britain is finally and fairly on the way to steady restoration of trade- and her economic position. It is believed the improvement in sterling will be consolidated by a real backing of increased trade balance, the £ reaching par in dollars at an early date. Progress will then be made toward a return "to the gold standard. There are, however, flies in the ointment. The financial position of France is viewed with some anxiety because the measures taken to improve the value of the franc have not resulted as well as had been hoped, and further French Government borrowing has given rise to apprehension. The dissensions in the Balkans, and the Spanieh-Moroeean situation are factors in this apprehension. English markets generally are sound. (A. and N.Z. Cable.)