RESTORING CONFIDENCE
PROBLEM OF WAR DEBTS MUST BE SOLVED. “LET US ALL GO ON THE STERLING BASIS.” (Received 4, 1.10 p.m.) London, May 3rd. Lord Leverhumc, presiding at the London Chamber of Commerce dinner, said that confidence could not be restored until the problem of war debts and reparations was solved. All nations were looking at the question of international indebtedness in a new light, realising the hopelessness of attempting to settle in full debts contracted on a gold basis and now requiring the production'of three times the quantity of goods originally neeessarv for payment.
Mr. Runciman said that the first step to open a new era must be complete cessation of the payment of war debts and reparations. It was not sterling but gold which had fluctuated in the past ten years. Industry could not stand a continual sag in prices. “There is only one way of dealing with the situation,” he said. “Let us all go on the sterling basis, then many of our troubles will be solved.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HBTRIB19320503.2.61
Bibliographic details
Hawke's Bay Tribune, Volume XXII, Issue 117, 3 May 1932, Page 7
Word Count
170RESTORING CONFIDENCE Hawke's Bay Tribune, Volume XXII, Issue 117, 3 May 1932, Page 7
Using This Item
NZME is the copyright owner for the Hawke's Bay Tribune. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in