CORNER TURNED

Evening Post, Volume CXVI, Issue 83, 5 October 1933, Page 11

CORNER TURNED

POSITION OF BRITAIN

m MERE FLASH IN PA3S}

CHAMBERLAIN CONFIDENT';

"PERMANENT ADVANCE"

(British Official Wireless.) (Received October 5, noon.) ,: RUGBY, October 4. ,'\ Addressing bankers and. merchant* in the City of London at a dinncif! given by the Lord Mayor last night/ the" Chancellor of the . Exchequer, (Mr. Neville Chamberlain) made ai\ important statement on the improved ment in the financial and commercial}* position of Great Britain. He de*; clared that Britain had "turned, theft corner," and that "in 'almost every, direction we see indications of definite progress and a growing sense of confidence that this; is no mere flash in the pan, but the beginning of a permanent advance." Un» doubtedly, he said, the situation" showed1 a far more favourable prosi pect now than it did a year ago. i FOUR MAJOR OBJECTS. J Britain's prosperity was intimatelwji bound.up with the revival of inte/rij national trade. How was that lei vival to be obtained? It was possible to name four major objects if or which they might seek. First, he would put a rise ki wholesale prices, especially the prices- oi primary commodities, and in tttdn case there was no method so ceiAaiii and rapid in its operation as the. "control of production and the propel adaptation of supply to demand where that could be effected by international agreement, as had recently bmi attempted in the. case-of wheaV The second object was the removal or lowering of oppressive pead* barriers. ■ THE GOLD STANDARD!. j The third object was the estaUislii ment ,of an international monetary standard. There was no staiadard which could compare in that iespeet with the gold standard. It seemed likely that ultimately Britain." would return to the gold standaEdj. But Britain could not consent to linlf her'currency'to gold, until phe was certain that the conditions prevailing were such as would permit the gold standard to function efficienttly. A resumption . ofintepiationaf lending might be the last of the fpuif objects to achieve comp.lerte fulfil* ment. The dark shadow of utnemploy* ment showed signs of lifting at last-* and he hoped that i the September figures would show that the en| couraging drop still con&aued. Hei would be very'disappointed'if ai the end of the financial year, afteijj making provision for the obligatory! sinking fund and for liic; payment made to the United States, last June* he was not left with a surplus arvaii^ able for redemption of dq'bt. |*