CAUSES -OF DEPRESSION

Evening Post, Volume CXI, Issue 77, 1 April 1931, Page 6

CAUSES -OF DEPRESSION

PUZZLING PROBLEM

In his 'address at tho annual dinner of the Wellington, Chamber of Commerce last .evening, the. president, Mr. D. J. M'Gowan, said the best brains in all countries had been puzzling as to the causes of the depression and the slump in prices:.'.-.'.He'would enumerate the various -reasons that- had been advanced, and-leave'.his; hearers'-to consider which of the several had had the niajor influence in creating the situation in this . Dominion and suggest the adoption of measures to-remedy matters and bring back prosperoustimes. ■ Attempts at diagnosis had been made by such august bodies as the International Chamber of Commerce, expert economists, and bankers of world-wide reputation, and even these experts differed as to the'Tnajor causes of tie unsettled atmosphere that has faced us. ' ' The-speaker then enumerated a number of suggested causes, including un-der-eonsumption, over--productionj accumulation of gold, tariff walls, national over-borrowing, ,wai debts, political unrest,'etc. These, he saii were some of the many reasons given by experts for the present'depression and fall in prices, and itimiist be obvious to all that the> solution was still a distance off. ~ ■•,;',: ...,'.-./;: t ~?■;: ' -~ ,;,