EXAMPLE TO WORLD

Bay of Plenty Times, Volume LX, Issue 11086, 8 April 1933, Page 2

EXAMPLE TO WORLD

CAPITAL. FLOWS to SWITZER L.IIND^ “There iu no mystery as to rt* caused the European flight of capita! insecurity, coupled with the trassdous burden of taxes imposed me capital in all thei Central Buropsss countries. But that this capital to Switzerland in significant,” W Mr George Gerhard, writing is North American Review,” In*®’ bute to Switzerland and its at** in days when the rest of Europe* B been far from steady. “First, there Is the security * investment in a well-controlftd ket. And second, and of no mewi* port, there is the low rate of l ®' lion. It is upon this backp ß ® that Switzerland grew, without apparent intention of her, own, a first-rate financial power, hi* story of a nation which has, sound economic principles awl * swerving neutrality, in politic* as in' finance, built up a .1 which now has brought its ref*^ “The principles that havp P this little country with Its ft* lions of inhabitants, may ** , studied by the rest of the word. principally by the great spite of many attractions large-scale production, has remained esesintially wha * • ways was; a country caterißS. needs of the world as th e ? ’ as she might choose to making a living as best she c % training from wild speculate hering to old and sacred priW conservatism. Savings are ing up in Switzerland. $ “Swiss cheese, with all ~ wide popularity, is still. pr° some 3000 dairies most oi rather small. Graft and c are unknown quantities m land. Her credit stat “ B .*j|3 highest. She ban not tariffs, but believes in “’fT* live. And with a.ll her m has come to national glorf national repute. . “To be sure, Switzerland troubles. She has to grm f declining exports and .y creasing unemployment, * hers 50,000 at the present ‘ && world crisis has not left h* # ed. But In a world w ' hic “^ flowing with the panaceas?! # and chauvinism, the * mo frto zS r f ß Alps’ has gloriously stuc * dition inherited from pOD || self-restraint and political P“^|