RECOVERY OF WORLD.
LEAD BY BRITAIN.
DISCARDED GOLD STANDARD. " MOST PROSPEROUS COUNTRY." By lelejrraph—Press Association—Copyright. (Received April 21, 5.23 p.m.) NEW YORK, April 20. Hie noted British economist Mr. J. M. Keynes, in an article published in the Atlantic Monthly, declares that Britain's abandonment of the gold standard was the starting point of the world's economic recovery. "Britain to-day," says Mr. Keynes, "is decidedly the most prosperous country in tho world and the forces released by her abandonment of the gold standard will in time undermine and destroy the creditor position of France and the United States. "The policy of inflation may prevent the almost complete collapse of tho financial structure of modern capitalism. I recommend a similar policy for the United States. "It is almost inconceivable what rubbish the public man in the United States has to utter to-day if he is to keep respectable. But the best bankers see the need for inflation. The United States will have to wait for a stimulus for her economic recovery from the outside. That recovery will come first of all to Britain and the group of overseas countries which look to her for financial leadership.''
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21164, 22 April 1932, Page 9
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194RECOVERY OF WORLD. New Zealand Herald, Volume LXIX, Issue 21164, 22 April 1932, Page 9
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