U.S. RESERVE BOARD VIEW

Evening Post, Volume CXIII, Issue 118, 20 May 1932, Page 6

U.S. RESERVE BOARD VIEW

Some evidence that the directors of British and United States financial policy appreciate each other's methods—and the special adaptation of those several methods to eachj nation's peculiar needs—is found in recent cabled reports of the utterances of the Chancellor of the Exchequer and of the Governor of the United States Federal Reserve Board. Not long ago, the Chancellor, Mr. Neville Chamberlain, spoke in the House of Commons to, the, general effept that he was not one of those who believed that the United States would be forced off .the gold standard;'he added that the financial measures taken in the United States shad been wisely conceived, and that their development might ; lead to--interna-tional as well as national benefit. Today the Federal Reserve Bank Governor, Mr. Meyer, is reported as telling the United States Senate that no nation has gone off the gold standard save from necessity, and that none is against returning to a metallic basis; and lie quotes Mr. Neville Chamberlain's adherence to that position. With British experience in mind, Mr. Meyer says that the. United States cannot alone control the world price level., It is, in fact, an international task. But, as was shown in these colupms yesterday, the new French Premier contributes little or nothing to. the first step in reconstructionreadjustment of amounts owing and amounts claimed. "