LEVELLING WORLD.

Auckland Star, Volume LXVI, Issue 257, 30 October 1935, Page 11

LEVELLING WORLD.

INFLUENCE OF FILMS.

AMERICAN BANKER ABROAD. OBSERVATIONS IN BRITAIN. (From Our Own Correspondent.) LOS ANGELES, October 3. After a summer vacation in England and France, Dr. A. H. Giannini, chairman and general executive of the Bank of America National Trust and Savings Association, returned to Los Angeles with a fresh point of view of European wrangling, the Ethiopian situation, England's internal troubles, the world's monetary problems, improved economic conditions in the United States and a hope for world peace, Dr. Giannini expressed himself briefly.

Since lie pioneered banking for motionpicture productions and spent much of his time in England arranging bank loans on British productions through the London branch of the Bank of America, Dr. Giannini concentrated on that subject. "We are Americanising the world through our motion pictures," said Dr. Giannini. "Through the influence of American films you see platinum blondes on the streets of Rome, in Madrid, Cannes and Piccadilly.

"There is a great levelling process going on in Europe through the influence of our pictures. Class distinctions are being wiped out. Everyone acts and dresses pretty much the same. They are building American-type homes in England—thousands of them. Modern apartment-houses are rising about dear old Grosvenor Spuare and they advertise American features. They are erecting beautiful new theatres after our mode, the staid old Britishers don't like it. They don't want to lose their language and traditions. But you find _ people using American slang and colloquialisms. British Government Aids "So England is fostering the making of better pictures of their own. In contradistinction to the American Government, the British Government is doing much to encourage motion-picture production. France, too, is making headway toward better pictures. But in Europe they are short of talent, technicians and box-office sense." In making banking loans both in the United States and abroad to motionpicture producers, Dr. Giannini explained, the bank treats pictures much the same as commodities, such as cotton, coal and wool. As to the furore abroad over the ItaloEthiopian situation, Dr. Giannini said he "cannot believe there will be a general war," adding: No major war is ever fought in the same generation that acutely felt another war. The memory of every man is still fresh and keenly alive to the horrors of the World War. "The fellows who fought that war do not want war, nor do their children or their children's children. They are still paying for the last war. Wars do not come when you talk about them. In Europe I gained the impression that they are only making faces at each other. But England seems to be serious about intervention. She has her colonies to protect. They might become rebellious, should Italy proceed. Every overpopulated country needs land and resources to develop. Italy needs land to grow wheat and cotton. She needs oil and coal.

"The British Press has pointed out editorially how other nations have expanded to meet their economic needs. They find no quarrel with Italy's aims, so long as they do not impinge upon the British Empire. Mussolini never thought that he would have the whole world against him," concluded Dr. Giannini.

Concerning affairs at home, Dr. Giannini, who spent some time in New York, remarked that business in the United States is improving in spite of the political situation, saying: "Our emergency is over with. It is time that the administration informed us whether there is to be further devaluation of the dollar, or what is going to be done next."

Stabilisation of the monetary situation is a paramount need, he said. He predicted extended controversy between Great Britain and the United States over parity of the dollar and the pound. Interest rates in America will rise next year he believed; and speaking of Governmental economies, he said they have reduced taxes in England and are making definite progress toward further reduction of taxes. The British Government, he pointed out, has balanced its budget and built up reserves, in contrast to constantly rising taxes in the United States.