IMPROVEMENT IN TRADE

Poverty Bay Herald, Volume LXIII, Issue 19140, 8 October 1936, Page 6

IMPROVEMENT IN TRADE

OUTLOOK OF BRITAIN HOPES OF CHANCELLOR. (British Official Wireless.) Reed. 1 p.m. RUGBY. Oct. 7. The Cuanccllor of the Exchequer, Mr. Neville Chamberlain, in a speech at a dinner given by the Lord Mayor of London, said there was some indication of an improvement in export trading during the 12 mouths, due to the more prosperous conditions in countries which formerly were good customers of Britain. The step taken by the French Government, ami the assurances given by the British and the United States Governments that the readjustment would not he followed Ivy .any 'deliberate depreciation of the pound sterling or the dollar, were like the cracking of ice at the approach of lite warmer season Lo a Polar explorer, whose ship had been frozen for many mouths in immobility. The sterling'was still free. It was not linked to gold, or any other currency. There, was no alteration in the credit- policy neces-,-arv to preserve the internal prosperity of this country or other countries i»f the British Eimitf'o.

"We welcome most heartily the announcement by the French Government of its desire to follow up the reduction of duties and the abolition of certain quotas, which they already have effected, by an elaborate new customs tariff from which quotas will be entirely excluded," he added. He thought' it vvy unlikely that we were in for any new system of managed currencies, but before we returned to gold, Ave must provide security auaiiist violent fluctuations in the value of gold as expressed in the terms of commodities which occasioned so much disturbance in recent years,

"If we can do that, and it is a matter for furl her international co-operation. then J do not see any insuperable difficulties in the way of our ultimately arriving] again at a currency system based on gold." said Mr, Chamberlain.