WORLD BANKRUPTCY

Evening Star, Issue 20972, 10 December 1931, Page 10

WORLD BANKRUPTCY

ABSOLUTELY INEVITABLE SIR GEORGE PAISH’S STARTLING SPEECH Press Association—By Telegraph—Copyright. LONDON. December 9. (Received December 10, at 10.20 a.m.) ‘‘lf my information is correct, nothing can prevent a world breakdown within two months,” said Sir George Paish at Manchester- “America’s situation is infinitely graver than Britain’s. French conditions arc exceedingly' grave. We must call the nations together and consider the position. Reparations should be abolished or reduced, to such an extent that nobody would mind them. Interallied debts should be abolished America should forgive the £50,000,000 due yearly from debts. The world’s tariffs must come' down. America’s tariff policy deliberately drove the world to bankruptcy so far as she was concerned. Now Britain has introduced a tariff preventing her debtors from paying and making world bankruptcy inevitable. Her policy is the greatest folly conceivable ” [Sir' George Paish is governor of the London School of Economics. He was editor of the ‘ Statist 5 from 1894 to 1900, and Adviser to the Chancellor of the Exchequer and tho British Treasury from 1914 to 1916.]