ADRIFT !

Grey River Argus, 12 May 1932, Page 7

ADRIFT !

CAPITALIST CIVILISATION. MR CHURCHILL’S ADMISSION. RUGBY, May 10. During the second day’s debate in the Commons on the second reading of the Finance Bill, Mr Winston Churchill made a strong demand for international action on th>e money problem. Capitalist civilisation, he said, was adrift, and u o single power was strong enough to take the helm. The strength of three or four of the greatest Powers would be required. He did not believe that individual unrelated inflation, or individual inflated credit .expansion by the various nations, would solve th© difficulties of international action. To arrest the fall in prices was the sole hope of averting a world crash, and he urged the Chancellor of the Exchequer to reconsider the decision announced during last night’s debate that at sent a currency conference ctfiild not be called. Hi? approved the specific proposals made by the Government’ and regarded the tariffs as necessary, but only world action could be taken except through the co-operation of -Britain and the United States. /Ir Churchill added: —I regard international action to arrest the fall of prices as the’ sole hope of averting, a world crash, compared with which everything W0 have suffered to'date will be a mefe nothing.