GETTING NEARER TO BARTER

Hawera Star, Volume LIII, 26 August 1933, Page 14

GETTING NEARER TO BARTER

“THE -world ns a Whole,” says “The Times,” “has moved nearer to barter, and our own commercial system is being- brought into relation with that fact. It is not a very desirable development, even though in connection with some countries, and notably with (Russia, experience has shown that it is inevitable. But with most countries it may be hoped that a system of closer regard to the balance of trade will not prove inconsistent with an expansion of the volume of trade nor with a restoration- of an extensive use of the credit system. “The obstacles in the way are the interlocked problems of international -debts, excessive tariffs, exchange restrictions, prohibitions, and all the armoury of weapons which countries have been driven to use or have chosen to use in an effort to make themselves

Undesirable But Inevitable to Some

e self-supporting and to dam themselves off from the rest of a troubled world, s These are the problems with which the t World Economic Conference will be - called upon to deal. It seems likely to i find the world at a fork in the road 1 where one branch leads to common--5 senso agreements on currency, debts, ; and tariffs, and where the other branch leads to a race in currency deprecia- ■ tion, probably coupled with mounting ■ tariffs. “There can bo no doubt that the , whole influence of Britain will be ex- ' erted to take,- and to induce others to take, the wiser course, and there is | equally no doubt that the taking of this course would be as helpful as the taking of the other course would be fatal to the prospect of a return of prosperity. ’ ’