World Economies

Manawatu Times, Volume LV, Issue 6865, 23 May 1932, Page 7

World Economies

FLANS AND PORTENTS PROFESSOR’S REASONING LONDON, May 11. “A substantial rise in prices is so far ahead that producers should concentrate on reducing costs by improving equipment and processes and reducing overhead charges by reorganisation.” This advice from Professor H. Stanley Jcvons, economist, is published in the Times trade and engineering supplement. The writer deduces that gold prices have nearly Touched bottom, and probably will remain stationary for some years, with a sharp fall about 1938. This will precede a final cycle of crises, continuing at least until 19-13. Professor Jcvons considers that his calculations would be upset by another world war. The crisis could be scientifically shortened otherwise, by tho decision of important commercial nations to establish international currency as a basis for exchange. Monetary Reform ATTITUDE OF BRITAIN OVERTURE TO AAIEEICA LONDON, Alay 31. The Financial Secretary to the Treasury, Major W. E. Elliot, in tho House of Commons, indicated that Britain was willing to co-opcrato with America in monetary reform. Tho statement has aroused widespread interest. ‘‘Any attempt at a friendly co-opera-tion with men of goodwill pursuing a similar policy,” Alajor Elliot said, ‘‘will be doubly welcomed by Britain.” Air. Churchill requested that the statement should be officially communicated to America.

Alajor Elliot: I am Financial Secretary to the Treasury, and I cannot conceive my statement on behalf of the Government being ignored here or elsewhere.