HELP TO TRADE.

Auckland Star, Volume LXIII, Issue 98, 27 April 1932, Page 7

HELP TO TRADE.

CURRENCY EXPANSION

Scheme Proposed By London Chamber of Commerce.

PLEA FOR UNIFORM PRACTICE.

(United P.A.—Electric Telegraph—Copyright)

(Received 11.30 a.m.)

LONDON, April 20.

A special committee of the London Chamber of Commerce reports in favour of the expansion of currency, pari passu, increasing industrial and commercial activity, and expresses the opinion that this should not find its first outlet as a base for financial credit as distinct from industrial and commercial credit.

It wou.'d greatly assist, the report states, if the same monetary system were adopted by all nations willing to co-operate with Britain. This does not mean a uniform currency but merely a uniform practice to enable the currency of each country to expand and contract automatically with the activity of business and give the consumer the fullest purchasing power.

The advent of tariffs, though advantageous to the home market will only accentuate the crisis on the Continent, and in these days it ought to be possible to find a means for settling international obligations without the carriage of bam of gold across the seas.

The report concludes: This is the vital issue to which circumstances during the next few months will compel attention.