PRIVATE ENTERPRISE

Evening Star, Issue 25567, 21 August 1945, Page 8

PRIVATE ENTERPRISE

BEST FOR THE WORLD LONDON, August 20.

Mr Winthrop Aidrich, president of tli© International Chamber of Commerce, in a speech at an American Chamber of Commerce luncheon, said that private enterprise was the only means of establishing world trade and attaining the goal of reasonably full employment without recourse to such artificialities as continued Government deficit financing, which ultimately led to a Socialisation economy. A world trade conference should be called as soon as possible to speed up restoration by multilateral trade, the removal oif exchange controls, and die stabilisation of exchange rates. Competitive forces would be given full plav. and national income would rise to "the level necessary to support a large volume of foreign trade only if domestic economic controls were removed. Such controls included trade barriers and restrictins, monopolies,

■i and arbitrary 0.. „• m _ torest rates, over capital and markets. Tho nations could too easily drift into totalitarianism by permitting or promoting practices which in themselves seemed innocuous, perhaps even beneficial. but which cuiAulatively destroyed privntp enternr'se.