THE DOLLAR

Nelson Evening Mail, Volume LXVI, 30 November 1933, Page 11

THE DOLLAR

AMERICA’S EXPERIMENT Speaking at Penzance, Mr Runciliian, President of the Board of Trade, said that Great Britain was inextricably bound iqi with tlie world as a whole. In the United States of America President Roosevelt, the greatest autocrat in the world, had chosen to make a lliige experiment. If the United States were a little world all on its own, it was quite conceivable that the experiment would solve their problem, but, being involved in foreign trade, tlie United States had already discovered that they lmd put themselves almost entirely out of foreign countries, and they could not compete with the rest of the world. If the experiment failed, it meant another period of depression in the United States, and that could not occur without having its effect on other countries. But it should he remembered that America could have made a considerable contribution toward world financial confidence had she stabilised her dollar in relation to the pound and franc, and he said without hesitation that before many months were past those in authority would he anxious to see their dollar as stable as was British currency. Discussing world trade, Mr Ruiiciinaii said that Great Britain could do nothing with the United States until it was known where tlie dollar would settle. There had been, however, a considerable advance of Britain’s share of trade with Canada from 1(H to 2.'U per cent., and increases in other countries from S foj 10 per cent.