WORLD TRADE

Manawatu Standard, Volume LV, Issue 43, 18 January 1935, Page 7

WORLD TRADE

CALL FOR CO-OPERATION. PROBLEAI OF EXCHANGE. MR AIACDONALD’S ANALYSIS. (United Press Association—By Electric Telegraph.—Copyright.) (British Official Wireless.) Received January 18. 11.55 a.m. RUGBY, Jan. 17. In a speech at Newcastle, the Prime Minister (Air Ramsay AlacDonald), referring to the trying times through which Newcastle had passed, said there was some encouragement in the outlook to-day. They had not yet got their difficulties tlirougfi and would not do so until the international situation cleared. The British Government had laboured incessantly and quietly to spread abroad in Europe the seeds-of-mutual confidence between nations. In so far as the present difficulties in that field were a business problem it would not be satisfactorily solved until they had overcome the difficulties of international exchange. It was a matter of currency and trade policy, and they had had to protect themselves in the conditions which had been largely forced upon them. They could not sacrifice their essential industries to an unprotected market. The Prime Alinister said he regretted most profoundly that in this sphere other nations had not taken the opportunity given them at the Economic Conference to reach an arrangement for their mutual benefit. It had to be recognised that production alone was of no value and that only when the producing forces were brought into effective contact with the consuming forces would trade begin to go round and the nations become flourishing. It was for the business men to help and not always be waiting for Government action. Only in so far as the country co-operated with the Government would their best efforts be successful, Air AlacDonald added.