RESTORATION SPECIFIC
CANCELLATION OF WAR DEBTS.
STERLING BASIS ADVOCATED
(Received 2 p.m.) LONDON, May 2,
Lord Levcrhulme, presiding: at a Loudon Chamber of Commerce dinner, said confidence would not be restored until the problem of war debts and reparations was solved. All nations were looking at the question of international indebtedness in a new r light, realising the hopelessness of attempting to settle in full debts .that were contracted oh a gold basis and now required the production of three times the quantity of goods originally necessary for payment. Mr. Walter Runciman, President of the Board of Trade, said the first step to open a new era must be the complete cessation of the payment of w r ar debts and reparations. It was not sterling, but gold, which had fluctuated in the past ten years. Industry could not stand the continual sag of prices. There was only one w r ay of dealing with the situation. “Let’s all go on the sterling basis,” ho said, “and then many of our troubles will be solved.”
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Bibliographic details
Northern Advocate, 3 May 1932, Page 5
Word Count
175RESTORATION SPECIFIC Northern Advocate, 3 May 1932, Page 5
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