NO ROYAL ROAD
RETURN TO PROSPERITY,
ONLY REDUCTION OF COSTS
LONDON, 6th May.
In these costs are included soaring discussions took place at the House of Commons between Mr. Montagu Norman, Governor of the Bank of England, and a group of Labour, members, who expressed tho opinion that the remedy; for the depression lies in central banking action, aimed at the restoration of the prico. level.
Mr. Norman is understood to havo denied that there is any royal road to prosperity, via currency regulation.
He added that, banking circles held that the main hope lies in a_ reduction in manufacturing, costs, not only in tho basic industries, but in the more prosperous trades, and particularly in tha sheltered industries, which hitherto have resisted the depression.
In these costs are included' soaring overhead charges and high taxation.
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Bibliographic details
Evening Post, Volume CXI, Issue 106, 7 May 1931, Page 11
Word Count
136NO ROYAL ROAD Evening Post, Volume CXI, Issue 106, 7 May 1931, Page 11
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