QUICKEST WAY

Evening Post, Volume CXV, Issue 144, 21 June 1933, Page 10

QUICKEST WAY

OUT OF DEPRESSION BRUCE GIVES ESSENTIALS^ — <J RISE IN PRICES, IF.-* ■—— i Cnlttd PreM Association—By Electric Tel»« ■ .: srapb—Copyright. ■ , ' (Received June 21, :2 p.m.) ■ j LONDON> June 20. " '"I agree-that a rise in- prices,1 it' it can be achieved, is the quickcst1 way) out of the depression, and accordingly^ I welcome Mr.: Chamberlain's state* ment," declared Mr. Bruce in his first Conference speech. Addressing theMonetary Sub-Committee Mr. Bruce ad« vocatcd the:following essential measures:— . . ■ (1) Abundant ' credit ' and cheap money. (2) Wider extension of open market operations. (3) Active, use of increased credit by the public or Governments. (4) Currency stability. These, he said, should ,be followed by the abolition of exchange- restrictions, the removal of'prohibitions and similar trade barriers, and a resumption of international lending. Mr. Bruce's speech, sent out by wireless, was welcomed in Canadian circles, the Canadians claiming that Mr: Bruco had now conic to a position in accordance with their views in his willingness to consider a reduction of production. Mr. Bruce stated that ■while Australia would never consent to such a policy of despair as restriction, they, were prepared to co-operate in every possible way to solve 'the world's problem. . " ~ The afternoon's wheat talk was postponed till tomorrow at the request of Mr. E. B. Bennett (Canada). Hopes of an ultimate agreement to regulato exports now seem brighter, but there is little likelihood of the "Big Tour" settling the matter among themselves, ■ .Mr. .Cordell. Hull predicts that ' th« Conference, will last thirty, or. ' fortjj days or more. He thinks, the situation, normally favourable and prophesies a fair measure of sucqess. . He took! pains to emphasisp, the American, delegation 's absolute unity. . ■ ■ '