DEPRESSION ENDED

Otago Daily Times, Issue 21621, 16 April 1932, Page 14

DEPRESSION ENDED

AN AMERICAN’S BELIEF NEW ERA OF PROSPERITY (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 14. (Received April 15, at 5.5 p.m.) Mr F. B. Kellogg, who arrived at Plymouth with Mr Stimsou, expressed the belief that the world depression had ended and a new era of prosperity was gradually dawning in the United States, but business must be placed on an economic basis and expenses reduced in order to prevent high taxation. BRITAIN AND .AMERICA. FRIENDSHIP SACRED AND VITAL. LONDON, April 14. (Received April 16, at 5.5 p.m.) In the presence of the Prince of Wales, the Earl of Derby, and other notables, Mr A. W. Mellon (Ambassador for America), speaking at the Pilgrims’ dinner, reviewed the world situation. He added that Britain and America together represented the great centripetal force in a world which was tending to fly apart, and they must leave nothing undone to strengthen it, not only by guarding their friendship as sacred and vital but by co-operating with all other nations to achieve again - world peace and economic well-being.