RAISING PRICE LEVELS.

Press, Volume LXIX, Issue 20920, 29 July 1933, Page 11

RAISING PRICE LEVELS.

SYDNEY BANKER'S VIEW. INTERNAL EQUILIBRIUM THE REAL NEED. (rSIIED I'KP.SS ASSOCIATION— BI ELKCT*IO TELEGRAPH—COPVBIGHT.) (Received July 28, 9.30 p.m.) SYDNEY, July 28. I Mr James Ashton, M.L.C., chair--1 man of the Commercial Banking Company of Sydney, addressing the shareholders at the annual meeting, 5! said that there was general agree- , ment throughout the world that there should be an increase in price levels, but one might be pardoned • for hesitating to subscribe to the : doctrine that the world could be saved by making all commodities ' dearer, and for inclining rather to--1 wards the opinion that the outstand- " ing need was to restore a closer bal--2 ance between the prices of primary products and of secondary products. 3 He added that help might come 3 J from outside in the shape of an . I advance in prices on our export , commodities, but the internal difii- * I culties in the way of closer equir Jibrium were very great involving t as tliey did controversial political x questions. Whatever form of relief might be expected would therefore depend on world conditions generr ally.