ECONOMIC RECOVERY

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

ECONOMIC RECOVERY

ENGLAND’S STRENGTH A GERMAN TRIBUTE BERLIN, Aug. 27. The London correspondent of the Deutsche Allegemeine Zeitung, who takes the anniversary of the National Government as an opportunity to review its work, says : “In these 12 months :a very great deal, as all must acknowledge, lias been done by the consolidation of national forces in England. Important stages on the way to , economic reconstruction and recovery have been covered. The milestones on this path, marking English will and strength, are the ordering of the Budget, the improvement in the balance of payments, the maintenance of the buying power of the pound, and cheapening of fcitato credit by war Joan conversion; Lausanne, and Ottawa. “Only the future can show what England will build on these foundations. But they have been laid, and the great success of the English experiment is clear to the world. It is irrelevant to ask if England is to-day really better off than a year ago; the English themselves have in their official utterances never claimed anything more than that they have been relatively successful, in that they have surmounted the crisis better than other countries.”

The correspondent’s estimate tallies with the view of developments in England during the last 12 months held by most German observers.