MONEY PROBLEM

Evening Post, Volume CXIII, Issue 141, 16 June 1932, Page 11

MONEY PROBLEM

WORLD CONFERENCE

STABILISING VALUES

(British Official Wireless.) (Received 16th June, 11 ajn.)

RUGBY, 15th June. In a speech at a city luncheon to« day Mr. Winston Churchill welcomed Government support, for a proposal to summon a world ', conference on th« money problem in order: to arrest what he described as ' remorseless deflation. The tasks before a world conferenca were to discover the v best .practical, method by which the vdevaluation of commodities could be substantially arrested and to invest that process'with! that authority which would command and hold the confidence 'of the most powerful States and also of the invest-, ing classes in every land. " Referring to the enhancement in ttia price of gold, which he described as a monstrous process which had sabotaged every form of human effort, he said that gold had been cornered, scrambled for, and hoarded. In the -last few years the price of gbld had risen by nearly 70 per cent., and the valne of everything else had also fallen in like degree. A remarkable feature had been, the way in which the prices of all these thousands of commodities had kept a steady relation with one another. They had marched forward together in orderly array. One commodity alone, gold, had broken from" the ranks and, since it was at present our supreme measure, all'the rest had been cast'dowh;