RESTORING TRADE

Nelson Evening Mail, Volume LXVI, 20 April 1934, Page 5

RESTORING TRADE

THE WORLD MARKET STALtLL MONEY ESSENTIAL (British Official Wireless) RUGBY, 19th April. In his presidential address to the Association of British Chambers of Commerce, Sir Alan Garrett Anderson expressed the view that one of the principles which must be observed before the world market could be, restored was that the chief creditor nation in the circle of world trade must buy more than it sells, or its debtor would be unable to sell more than it buys, and so pay its debts. The principles oil which tho world’s market flourished had been forgotten, and must be restored. Axioms of commercial mathematics were peremptory rules, and the nations should hind themselves together by a mutual grant of most-favoured nation privileges. Until the day when the world market once more included every country, they should show in a smaller circle that commerce could to-day, as in the past, sustain both the buyer and seller, and spread employment and demand throughout tho circle. The larger tho circle tho hotter, hub let them at least agree on the principles, join the circle and make a start towards recovery.

Sir Alan expressed the hope that the (Viscussioiis would convince the gold bloc that to maintain currencies they must join in asserting correct principles and in restoring the exchange of trade, and would convince other nations that commerce would not thrive unless it was based on stable money.