ECONOMIC ILLS OF THE WORLD

Timaru Herald, Volume CXXXVII, Issue 19598, 19 September 1933, Page 7

ECONOMIC ILLS OF THE WORLD

HOPES TO REASSEMBLE CONFERENCE WORLD ON EVE OF CHANGES United Press Association—By Electric Telegraph—Copyright (Received September 18, 9.5 p.m.) LONDON, September 18. “The Daily Herald” says: Mr Macdonald is hopeful of the reassembling of at least a portion of the World Economic Conference in London, in November. The permanent officials of the Conference are now' conferring with Mr Macdonald, who is hopeful that President Roosevelt’s internal monetary policy will then be developed sufficiently to allow international issues to be discussed. Opposition to the renewal of the Conference is likely to come from Europe, as the French Cabinet and Signor Mussolini are trying to arrange regional agreements, and are reluctant to raise again the problem of the relation of gold to non-gold countries. WORLD REVOLUTION NEW ECONOMIC ORDER EVOLVING British Official Wireless RUGBY, September 17. The well known economist. Six George Paish, speaking at Nottingham, said: J“We ate witnessing to-day a revolution in the financial sphere, in which a tew wealthy capitalists are being replaced by a vast army of small investors.” Something like £52,000,000 worth of national saving certificates would be sold in the current year, and when this sum is added to the deposits in Building Societies, investments in Government securities, and other forms of working class thrift, it would be realised that the savings of the nonwealthy section of the community now formed a very important factor in national economy. The incalculated small savings in Britain had now reached a sum of £2,400,000,000, but he thought the aggregate greatly exceeded that sum.