CHEERFULNESS RETURNS

Poverty Bay Herald, Volume LIX, Issue 17918, 24 October 1932, Page 9

CHEERFULNESS RETURNS

RISE IN PRICES IN BRITAIN “HAS DEPRESSION PASSED?” LONDON, Sept. 7. ! Politics, sociiil scandal, industrial upheavals and the thousand and one happenings ot a varied world are rushed into the background in Britain to-day while the great question “Has the worst stage of world depression now been left behind'” is asked by millions engaged m what the census calls gainful occupations. . ... Undoubtedly the wave ot commodity buviug is accelerating its speed daily. iiubuor, copper, tin, wheat, sugar anu wool are all on the upgrade and speculators are convinced that the rise cannot now be checked whatever temporaly setbacks may be due to profit-taking. Stocks and shares partake in the general advance despite figures showing increased unemployment and dislocation of industry caused by the cotton What significance is to be attached to such market activity at a period ol the year when holiday lethargy ordinarilv dominates all buying and selling. Financial newspapers are frankly bewildered. HOPEFUL FELLING

They admit there is a more hopeful feeling in business than at any time for two years. All present indications, they assert, prove that although the ultimate consumer lias not as yet shown much participation in the movement back U> prosperity, basically conditions are •rapidlv shaping for further improvement. ‘ On the other hand, banks, somewhat apprehensive of over-contideiice wine 1 may bo due for disappointment later, are warning the public that so many fatcors such as prohibitive tariffs, exchange restrictions and accumulation ot stocks in hands of producers, enter into the situation, no general recovery on a world scale can be looked for until these are dealt with by international action. Meanwhile, however, cheerfulness has returned to the City and the stock market is again alert to the possibility ol protfis in industrial shares. World’s bankers, financial men and politicians having failed to find remedies for the w'orld’s economic crisis, Bntisii scientists seek an opportunity to show what they can do. A section of them now attending meetings of the British Association at Aork are trying to gain support for proposals to be submitted to Mr. MacDonald s Government asking it to hold a seientide inquiry into the causes and cure ot depression. “The world has never been more ready to listen to science or more tired of the futilities of finance and economics,” says Sir Richard Gregory, a prominent astronomer, meteorologist, geographer and educations!, who hacks the suggestion. MUCH MONEY AVAILABLE Meanwhile, it seems Britain, without scientific aids, has blundered through to relative economic stability. Reports from leading banks show that this country is now immeasurably stronger financially and otherwise 'than it was a year ago and that £IOOXOO,OOO are now available at cheap rates for industrial and other investments. The United Kingdom, therefore, is' in a better state than any other country in the world to take advantage of trade prosperity when it returns.