WORLD RECOVERY.

Manawatu Standard, Volume LIV, Issue 288, 2 November 1934, Page 2

WORLD RECOVERY.

PROFESSOR CONDLI FFE’S VIEWS

Per Press Association

AUCKLAND, Nov. 2

That there are many signs oi improvement lrom the lowest depths of Uio depression is the considered opinion of Professor J. 13. Condlille, tormer Proio.ssor of Economics at Canterbury College, and now a member of the Economic Intelligence Service of the League of Nations. lie arrived by the Mariposa to-day to spend ins furlough. Professor Condliife said the gold value of world trade was still declining, but its quantum continued to increase, tboiign rather more slowly. J n June, as in every month since 192‘J, tlic gold value ot trade was lower than in the corresponding month of the previous year. There had been a sharp fall in wool prices, but a considerable rise in wheat. .The more important fact, however, seemed to be the clear tendency for prices of manufactured exports in the United Kingdom and the United States to rise. Professor Condliffe drew attention to tlie situation in America, saying the developments there were of great weight. There was a general disposition iu other countries to await American developments this winter in the hope that returning confidence and growing prosperity in America would lead to more economic co-operation and more stable conditions throughout tlie world.