THE WAY OUT

Feilding Star, Volume 9, Issue 3795, 12 August 1932, Page 4

THE WAY OUT

TFio Committee in Ottawa came tothese several conclusion J on the monetary issues: That it is desirable to ra : se the general 'level of wholesale prices. That the host plan would he by raising gold prices, and this can be done only by international action. That tfie monetary factor was| not alone responsible* for the fall in prices. Other factors, including political, had their effect, notably reparations. That tho British Commonwealth’s monetary policy should he on sound lines towards raising price levels by low interest rates and a. plentiful supply of short-term money. That efforts should be made to stabilise exchange between tho various countries. Tho committee merely suggests that there should he co-operation between tho countries. * lb also advocates international co-operation to thi s e’ and adds that the stability of international exchanges can best be obtained by a metallic ba ? e to tlio currency