The Hawera Star WEDNESDAY, JANUARY 25, 1933. STEP TOWARDS SANITY

Hawera Star, Volume LII, 25 January 1933, Page 4

The Hawera Star

WEDNESDAY, JANUARY 25, 1933. STEP TOWARDS SANITY

Delivered every evening by 5 o’clock in Ha.wera, Mannia, Ka.upokonui, Otakelio, Oeo, Piharua, Opunalce, Normanby, Okaiawa, El 111 am, Ngaere, Mangatoki, Kaponga, Awatuna, Te Kiri, Mahoe, Lowgarth, Manutahi, Kakaramea, Alton, Hurleyville, Patea, Whenuakura, Waverley, Mokoia, Whakamara, Ohangai, Meremere. Eraser Road and Ararata.

New Zealanders, immersed in their own troubles, are apt to overlook the truth that .the return of permanent prosperity to this country must wait upon a solution of international problems of vast intricacy. In' this Dominion the people and the Government can only do their best to manage their affairs with a view to keeping afloat until the turn of t>he tide abroad. The most encouraging new's of the moment for those who keep their eyes and hopes on overseas affairs is the agreement between the President and President-Elect of the United States to facilitate the re-open-ing of debt discussions with Great Britain. This should result, among other things, in bringing the World Economic Conference one step nearer. Since the Ottawa. Conference the prospect, of the nations meeting in an effort to solve the complicated economic conditions which hold the world in thrall has been growing less definite and fears were held that such a conference must fail, if it ever eventuated'. The American decision, however, revives hopes in that respect and, for Great Britain, holds out a distinct hopo-that effective efforts will be made to straighten out the war debt, difficulties as between England and the United States. Success in that field must be the forerunner to success in other spheres, but at this moment Great Britain owes it to her high reputation' as a debtor nation that aha has been selected first by the United States for discussion of war debts. It would be wrong, of course, to assume that America has opened the door to British negotiations merely out of admiration and sentiment. Britain has played fair, Tout since shfe paid her last, instalment of the debt, she has -let America see that behind her fair dealing there is a determination’ to force America to face the stark fact that- the United Sta-tes cannot expect to hold the world in bondage for ever without grave danger to the whole of the economic fabric. Doubtless, too, behind America’s be J lated dwrday of readiness to negotiate there is a desire to bargain with Great Britain with a view to persuading her to return to. the gold standard. Britain has good reason to know what such return to former policy would cost her; it is unlikely, in the event of such bargaining, that the solution of the difficulties between the two nations will be a simple affair. America, however, is not in a position to be dictatorial; she cannot afford to ignore the world crisis any more than any other nation. > She has over eleven million of unemployed, her farmers are in a parlous position and her trade and commerce are severely affected 'by the inability of other nations to trade fully with her. America must realise some time, that she cannot expect to receive, indefinitely, payment in gold for goods and services rendered during the Great War. She must, some day, admit that payment in kind is the only just method—or accept responsibility for whatever may befall the world. Great Britain has made it sufficiently clear that she expects a clear-cut definition of policy before the next debt payment falls due in June. The acceleration of affairs by America with a view to opening conversations with Britain in iMareh, immediately upon assumption of presidential office by Mr Roosevelt, can be accepted as a hopeful sign of a return to sanity by a world which has been too'long in the grip of economic chaos.