OBSTACLE TO RECOVERY
WORLD-WIDE PROBLEM LACK OF PROPORTION PRICES AND CURRENCIES (British Official Wireless.) Reed 9.30 a.m. RUGBY, Sept. 22. A report presented by the Financial Committee of the League of Nations states that lack of proportion between prices and currencies, which leads to a deficiency of equilibrium in exchanges, is the greatest obstacle in the . way of world-wide recovery. The report endorses the view of the League Economic Committee that it is indispensable for the restoration of normal economic intercourse to close the abnormal gap which separates the price levels in different countries. It fully shares the view that it is for each country to deal with its own monetary problems, and that a world conference could not, at this stage, prove helpful, and any attempt at international economic cooperation should be. confined in the first instance.to a limited number of countries likely to have a decisive influence on the course of events.
The report emphasises agreement with the view that no currency adjustment can bring about any improvement, in the economic, situation unless it is acconilanicd by a relaxation leading to the ultimate abolition of exceptional import restrictions.
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 19128, 24 September 1936, Page 5
Word Count
190OBSTACLE TO RECOVERY Poverty Bay Herald, Volume LXIII, Issue 19128, 24 September 1936, Page 5
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