DEPRECIATED CURRENCIES

Evening Star, Issue 21320, 26 January 1933, Page 9

DEPRECIATED CURRENCIES

TRADE WITH AMERICA PRESIDENT HOOVER FACES PROBLEM Press Association —By Telegraph—Copyright WASHINGTON, January 25. (Received January 26, at 9 a.m.) President Hoover feels that the United States is faced with the necessity of either increasing its tariff walls or some action to gain stability in foreign currencies, and it is considered that possible moves will be made for speeding up the approach to the World Economic Conference. It was stated in high administration circles that the President desires to avoid major ihcreases in tariffs, but feels that it may be necessary unless the World Conference can act quickly, to bring greater stabilisation of foreign currencies. President Hoover, it is stated, believes that only in the past four or five months has the United States felt the full reaction from the departure of the various European countries from the gold standard. Figures have been placed before him designed to shovf that goods From countries of depreciated currencies arc flowing into the United States with increasing intensity.