Timely Topics

Northern Advocate, 5 January 1938, Page 4

Timely Topics

BRITISH PROSPERITY, AND . AMERICA’S. “The president ol the Now York stock exchange has called upon the Government, financial interests and the industrial world to co-operate in opening the channels of capital expansion in the United States. One hopes that the co-operation will be forthcoming, for if it is not the contraction in world industrial activity, which will inevitably ensue, must have strong repercussions in this island, geared through its industrial, shipping, financial, and investment activities and ramifications to the world trade wheel. British industry is doing well in world markets now, and on long term may be expected to do better, unless there are new unfavourable developments of a major character. But should the house which Roosevelt and his New Dealers have built collapse, through the barriers placed by reforming zealous and social exprimenters in the channels of capital expansion, and America sink back into a major slump, instead of rising strongly out of a corrective phase, then commodity prices will crack and shipping rates will sink, another world trade blizzard will blow, and British prosperity will not be held.” —“Time And Trade.