MUCH DISTRESS.

Auckland Star, Volume LXIII, Issue 261, 3 November 1932, Page 7

MUCH DISTRESS.

AMERICA'S TROUBLES. Steps Necessary for Restoring Normality. SIR MARK SHELDON'S VIEWS. (United P.A.—Electric Telegraph—Copyright) XEW YORK, November 2. An interview was obtained -with Sir Mark Sheldon, of Sydney, formerly Australian Commissioner in the United States, who is to leave Boston for England on Saturday after a business visit to America. "Coming across the Continent," said Sir Mark, "the further east one gets the greater one finds the shock of the distress duo to economic dislocations in the United States. The general body cif the people have not yet realised that America ennnot be prosperous with the rest of the world in difficulties. "Leaders of commerce, industry a»d finance see that one of three thinge, or a good deal of each, must happen before the restoration of normality. These are a revision of inter-Governmental debte, a lowering of the tariff and a resumption of further advances abroad. "It would be idle to say that any one of these steps yet would be generally acceptable. One must remember that probably 121 per cent of the working population of this country is unemployed. In order to get these people back to work there must be a greater division of labour, a further readjustment of prices and wages and continued deflation in the hitherto accepted standards of living." = I