PRESENT-DAY PROBLEMS

Evening Star, Issue 21315, 20 January 1933, Page 9

PRESENT-DAY PROBLEMS

WAR DEBTS AND TRADE A BANKER'S VIEWS (British Official Wireless.) Press Association—By Telegraph—Copyright. RUGBY, January 19. (Received January 20, at 11 a.m.) Outspoken remarks on war debts were made by Mr F. C. Goodenough (chairman of Barclay’s Bank) at the shareholders’ meeting. He declared that there must be some finality on a question which was so vitally affecting the present and the future conditions of the whole world. Mr Goodenough expressed the belief that the City of London would regard it as useless if the suggestion that, pending a satisfactory settlement of all debts, the instalments should continue to be paid, no matter how long tho discussions might be prolonged. Great Britain, he said, should not pay any further instalment until the whole matter had been discussed and an agreement for a final settlement reached.

Remarking on Britain’s economic policy, Mr Goodenough said it had been due to the inability of other countries to arrest the decrease of trade since the war that tho change in the British policy had become necessary, but the fundamental principle that a creditor nation must permit its debtors reasonable chances to discharge their liabilities remained unchanged.

AMERICA'S ALTERNATIVE LONDON, January 18. (Received January 19, at 11.30 a.m.) At the Barclay’s Bank meeting, Mr Goodenough said lie thought that Britain’s payment to America of further sums of gold might be dismissed as impracticable. The only alternative x was payment in goods.” If America desires payment she must take it in this way, and make payment possible by a readjustment of her tariffs, America will sooner or later have to choose between adjusting her economic policy and forgiving the whole or part of the debts due to her. Britain’s return to the gold standard is impossible until we can feel sure that the conditions are such that'she and other countries will not again be forced to suspend it.” Regarding the industrial situation, Mr Goodenough suggested that it might fbe possible to hold an early conference with the dominions with the object of arriving at means to alleviate the great evil of unemployment.