POST-WAR COMMERCE

Dominion, Volume 37, Issue 97, 20 January 1944, Page 5

POST-WAR COMMERCE

British Bankers’ Views

LONDON, January 18.

Views on post-war financial problems are expressed in .statements issued by the chairmen of two of the “Big Five” banks. The Hon. R. E. Beckett, chairman of the Westminster Bank, said that post-war credit on a large scale was needed to give a new start to trade and commerce. Endeavours were being made to find a token or denominator upon which this edifice could be based, and the id.ea of making gold the token, either directly or remotely, must be seriously considered. It presented possibilities not apparent through other media, but the rigidity of the gold standard must be avoided. " America’s status as a creditor nation implied the responsibility of securing trade equilibrium and not remaining passive as hitherto and allowing the free entry of gold payments for goods. America should permit the easy entrance of foreign goods. Goods and services were a better exchange for exports than gold, which passed to a condition of sterility forthwith. “A peace established with the appearance of durability and possibilities for recovery would be more favourable than any time in the last 25 years. We must be ready with new and attractive lines of goods and not miss the ehapce of maintaining an export trade nt least at. the pre-war level.” said Mr. Stanley Christopherson. chairman of the Midland Bank. The economic progress of Britain was dependent on the enterprise and resourcefulness of small business undertakings and individuals. These qualities were too often stultified and misdirected through the inadequacy of financial resources.