THE LONG LANE

Feilding Star, Volume 9, Issue 3792, 9 August 1932, Page 6

THE LONG LANE

Its Turning in Sight PANIC PROPHECIES THAT DID .NOT COME OFF ECONOMIST’S REVIEW OF THE SITUATION lAust. htiil N.Z. Cubic) Lon,don, August 8. The Economist, in ail article entitled “The Long Lam;,” compares the situation to-dav with that of a

year ago' and 'observes: “Certain, panic prophecies lf.cn current have not come true. In so util- eastern Europe and Germany political institutioc'.s have not collapsed and the financial cri a i.s has juot been allowed to reach the Rounds of extremity. The Lausanne Conference marks one of the notable advances in international co-operation in the past few years. Moreover, signs are not wanting that opinion in the United States is becoming reconciled to a radical revision of the debt agree® merits ae an .essential part of the world problem of reconstruction. In the world generally the evidence of the sfcaPik and . produce markets, confirms the impre<* sioin of the statistics of production activity go"orally and that the steeper phase of the depression is past. The supreme task for the nations in the next li! mm the- is. hy cii-operation, to remove the overhanging menace of (amraimont, achieve some measure of monetary stability, cut a,wav flic thicket of tariffs and trade restrictions and allow the commerce of the world to flow once .again in the natural charnels.