WORLD ECONOMICS

New Zealand Herald, Volume LXX, Issue 21391, 16 January 1933, Page 9

WORLD ECONOMICS

PROBLEMS FOR SETTLEMENT WHAT BRITAIN IS DOING British Wireless RUGBY, Jan. 13 The Prime Minister, Mr. Mac Donald, in a message to the Conservative candidate in the Liverpool by-election, savs the economic state of the world is still disquieting, but in fundamental matters such as inter-Governmental debts Britain is recognised as being in a leading position in work which is being done to remove that serious cause of trouble. The Government is now engaged, Mr. Mac Donald says, in an endeavour to reach a settlement of the debt owing to the United States, a matter which, in view of the urgency of world conditions and the carrying out of the Lausanne decisions, admits of no delay. Among the world's economic difficulties Britain has held her own compared with other great industrial nations, and is now in a position to take advantage of improvement in world conditions which the Government is striving to effect. At the moment she is striving to remove obstacles which are delaying the World Economic Conference. The Prime Minister adds: "Untii that work is done there is no prospect of any serious permanent reduction in unemployment, although we are checking tho increase." Mr. Baldwin also has sent a message to the candidate in which lie claims that the Government has succeeded in stemming the rise of unemployment, in balancing the Budget and in effecting a great national saving in war loa-i interest under conversion schemes. The adoption of a tariff policy has already, he states, caused various countries to approach Britain with a view to modifying their high protective duties.