A WORLD VIEW

Hokitika Guardian, 23 September 1937, Page 6

A WORLD VIEW

OF GENERAL AFFAIRS

HOPES OF STABLE AGREEMENT

(United Press Association—By Electric

Telegraph—Copyright;.

LONDON, September 21

Although some nervousness is still evident mi the Stock Exchange, most city businessmen consider the worst of the forced liquidation is past. Today a brighter tendency was maintained all day. Public interest, however, was negligible, the bulk of the buying being due to “bear” covering. The attention of the markets in the next few days will be keenly forcussod on Wall Street and the Continent.

“Nothing has happened except another wave of illogical fear,” declares the ‘Telegraph’s” city editor, commenting on the market break. '‘The international situation looks less tense, and the trend of industrial activity in Britain and America should continue upward, unless the stock market hysteria checks it. The great body of British investors, fortunately, are keeping their heads and oati find every justification for so doing, in. the daily list of impressive increases in dividends.

“Thp Times’ ”, city editor says: There is reasonable hope, wlien America has recovered from the attack of jitieis that fundamentally sound busrhess conditions ’will re-nssert their influence. The United States is such an important consumer of commodities that they are also depressed by Wall Street’s behaviour.

Following so closely on Mr Eden’s and Mr Cordell Hall’s references to Anglo-American trade and tariff reductions. it is regarded as significant that Mr Chamberlain lunched with Air Amery, who is virtually leader ol the high tariff school of the Conservative Party. Later, he received Mr Oliver Stanley, President of the Board of Trade, and Hr Herein, wno was formerly Parliamentary Secretary to the Board of Trade and a considered authority on the question of interna] trade.

It is felt that Mr Eden in his speech at Geneva has at last succeeded In persuading Americans of Britain’s sincere desire to reach a tariff agreement.

Mr Eden’s speech at the League Assembly created a favourable impression in French press and official circles, and is interpreted as consolidating Anglo-French unity. Mr Eden’s offer to discuss lowering colonial tariffs and his relerences to raw materials as a means of economic and political appeasement were received coolly in Germany.

Most newspapers in London comment favourably on Air Eden s speech. “The Times” congratulates Air Eden and says lie amt a. finger on dangers of the Spanish situation, when he drew attention to the numerous notorious breaches of the Non-Inter vention Agreement* to the failure ol certain Governments to fulfil their engagements and to the continued presence of foreign troops in Spain- “ The Times” regards the references to the economic situation as in some respects the ntost important in th> speech, and says: The hope of agreement on flthe mo;p favouied ViatKMi basis between Britain and the United States would greatly further their interests and those of the world.