ASPECTS OF WORLD CRISIS

Dominion, Volume 28, Issue 232, 28 June 1935, Page 2

ASPECTS OF WORLD CRISIS

Paper by Professor H. Belshaw A meeting of the Wellington group of the Institute of Pacific Relations was held recently. After a discussion of arrangements for the coming visit of Mr. E. Carter, secretary-general of the institute. Professor 11. Belshaw read a paper on “Some aspects of the world crisis." The nrosent crisis, the speaker emphasised, bnd many of the characteristics of previou“ trade cycles, but possessed also new features. It represented a normal trade cycle sunerimposefl on an era of rapid striieturnl development and change in economic organisation. The position was (•omnlicated bv special factors arising largely out of the Grout War, intensified end prolonged bv t)>e po]io'».s adopted bv the various countries. The structural changes in evidence began before tiff '"•event oriels, nnfl with the nnlleies nnd "lens to which the notual crisis had given birth enuld no! fail to online profound mo'Hfioniinn in ‘he present economic and pool'll System. Enrlv recoroi'v would demand nn exnnwlon of credit, rosiimnflnn of interna‘local lending, stnhll'rai'on of evohnneo. nnd revnlnntion in business and trade, <■011(1111'0'1 the nrofcpaor. There were many d'fficnltii's in the win’, ninny fundamental problems nnd conflicts blocking the path to saiisfnetory economic and social organisation.