DDE OF PROSPERITY

Otago Daily Times, Issue 22479, 25 January 1935, Page 9

DDE OF PROSPERITY

NOT YET AT THE FULL MANY BARRIERS TO TRADE LONDON, January 23. At Barclay’s Bank meeting, Mr W. F. Tuke, presiding, said he feared that the "full tide of prosperity such as would enable unemployment to be reduced to its normal, level was not yet in sight. “ Britain's progress since *1931 is the envy of other countries,” he said, “but it is idle to think that we can obtain the standard of well-being which is our aim while international trade is cramped and restricted as at present by tariffs, quotas, exchange difficulties which break down overseas lending, restriction of production, political uneasiness, extreme nationalism. There are developments which suggest that the world is gradually emerging from the depression, but much is yet to be done before we can hope for a return to the level of prosperity which the progress of science and invention has made possible. We must have a stable basis for international trade before its volume can be substantially increased, and gold is the only practicable basis, but it would be a mistake of the first magnitude' for Britain to return to gold until the difficulties I previously mentioned have been adjusted.”