TRADE PROBLEMS

Dominion, Volume 28, Issue 98, 19 January 1935, Page 7

TRADE PROBLEMS

Speech by

Mr. MacDonald

PART OF BUSINESS MEN (British Official Wireless.) Rugby, January 17. In a speecli at Newcastle this afternoon the Prime Minister, Mr. Ramsay MacDonald, referring to the trying times through which Newcastle had passed, said that there was some encouragement in the outlook to-day. They had not. yet got through their difficulties and would not do so until the international situation was clearer. The British Government had laboured incessantly and quietly to spread abroad in Europe the seeds of mutual confidence between nations. In so far as the present difficulties in that field were a business problem, it would not be satisfactorily solved until they had overcome the difficulties of international exchange. It was a matter of currency and trade policy and they had had to protect themselves in conditions which had been largely forced upon them. They could not sacrifice their essential industries in an- unprotected market. He regretted most profoundly that in this sphere other nations had not taken the opportunity given them at the Economic Conference to reach an arrangement for their mutual benefit. It bad to be recognised that production alone was of no value and that only when the producing forces were brought into effective contact with the consuming forces would trade begin to go round and nations become flourishing. It was for business men to help and not always to be waiting for Government action. Only in so far as the country co-operated with the Government would their best efforts be successful. A Press Association cable states that a hostile section hooted and jeered Mr. MacDonald when he denied the rumours of an early election.