WAY TO RECOVERY

Manawatu Standard, Volume LII, Issue 121, 22 April 1932, Page 7

WAY TO RECOVERY

EXAMPLE OF BRITAIN. OFF THE GOLD STANDARD. ECONO All ST’S REOOMMENDATIONS. (United Press Association—By Electric Telegraph.—Copyright.) NEW YORK, April 20. “Britain’s abandonment of tho gold standard is tho starting point of tho world’s economic recovery,” declares Air John Alaynard Keynes, the famous economist, in an article in tho Atlantic Alonthly. Air Keynes says that “Britain to-day is decidedly the most prosperous country in tho world. The forces released by her abandonment of the gold standard will in time undermine and destroy tho creditor position of France and tlio United States. Tho policy of inflation may prevent the almost complete collapso of the financial structure of modern capitalism.” Air Keynes recommends a similar policy for tho United States. “In the United States,” he says, “it is almost inconceivable what rubbish a public man lias to utter to-day if lie is to keep respectable, but tho best bankers see tho need for inflation. The United States will have to wait for a stimulus for economic recovery from outside, while such recovery will come first of all to Britain and the group of overseas countries which look to lior for financial leadership.”