WORLD RECOVERY

Greymouth Evening Star, 15 February 1932, Page 9

WORLD RECOVERY

SIR ARTHUR SALTER’S OPTIMISM LONDON, January 3. “The year which began yesterday, will certainly be the most • critical since the Great War,” said Sh’ Arthur Salter, formerly Director of the Economic and Finance Section of the League of Nations, in a talk broadcast last night. “For six months,” Sir Arthur went on, “we have been (suffering from the worst financial crisis. But we shall recover; the prospect is no! darker than' it was in 1919. “We have had a severe relapse after a remarkable recovery. We now have to make a second recovery, and to do that we need to pull ourselves -together for a great second effort. Don’t let us, in our present discouragement, forget how wonderful was the recovery the world made after the war and maintained up to 1929. And what we have done once we can do again—and do it better this time. 'We shall recover again. The prospect is dark—but not darker than in 1919.

“In facing the situation, we have at least this to encourage us. The problem, difficult as it is, is essentially capable of human solution. If nature’s resources are failing us, if scientific knowledge and technical skill were inadequate to give us more than we have, we might have no al ternative but to economise and to en dure.

“But never was nature so prodigal with her gifts; never was man so well equipped in skill, and scientific resources to utilise them. Ours is a problem of the impoverishment that comes with plenty. It comes from defects in human organisation and direction, from imperfect planning, from weakness in the world’s finan cial and distributive systems—from essentially remediable evils and essentially removable causes. It is incredible that such causes should per manently prevent men from utilising and enjoying the resources at his disposal. “Unhappily, though very intelligibly the general mood of the world is now apprehensive where it should be bold; and defensive where broad and generous policy is most required.”