LACK OF PROPORTION

Evening Post, Volume CXXII, Issue 74, 24 September 1936, Page 9

LACK OF PROPORTION

PRICES AND CURRENCIES

(British Official Wireless.)

RUGBY, September 22,

A report presented today by the League of Nations Financial Committee states that lack of proportion between prices and currencies which le;ads to a deficiency of equilibrium in exchanges is the greatest obstacle in the way of world-wide recovery. The report endorses the view of the Economic Committee that it is indispensable for the restoration of normal economic intercourse to close the abnormal gaps which separate the pricelevels of different countries. It fully shares the view that it is for each country to deal with its, own monetary problems and that a world conference could not at, this stage prove helpful, and that any attempt at international economic co-operation should be confined in the first instance to a limited number of countries likely to have a decisive influence on the course of events.

It emphasises its agreement with the view that no currency adjustment can bring about any improvement in the economic situation unless it is accompanied by a relaxation leading, it is hoped, to the ultimate abolition of exceptional import restrictions.