WILL DEPRESS PRICES
THE AMERICAN POLICY ECONOMIST’S COMMENT LONDON, Nov. 20. •“I anticipate that America will resort to inflation by the issue of ‘greenbacks/ which will so unsettle the world markets that it will depress instead of raising prices,” said I’roJessor Gregory, tlie banking and eeonimic. authority, when interviewed by I lie Observer. The commodity dollar idea, lie said, had fallen into the background, and the administration was concentrating lore and more on producing a fall in currency in order to raise internal prices. Even Americans realised I lint the recovery experiment had been a failure. Britain’s internal situation and trade recovery would not justify following America’s bad example, despite; the fact that the depreciated dollar has severely hit the electrical, motor, and other industries.
France would not he easily driven from gold. Her gold reserves were enormous, and the general abandonment of gold would be likely to result in gigantic private hoarding, and the grave dislocation of financial markets. Nobody could forecast the effect on commodity 'prices.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19331128.2.110
Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 9
Word Count
168WILL DEPRESS PRICES Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 9
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in