MUST BUY MORE.

Star (Christchurch), Volume LXVI, Issue 20285, 20 April 1934, Page 1

MUST BUY MORE.

Sir Alan Anderson’s Advice to Creditor Nations. TO RESTORE WORLD TRADE. British Official Wireless. (Received April 20, 12.40 p.m.) RUGBY, April 19. In his presidential address to the Association of British Chambers of Commerce Sir Alan Garrett Anderson expressed the view that one of the principles which must be observed before the world market could be restored was that the chief creditor nation in the circle of world trade must buy more than it sells, or its debtor will be unable to sell more than it buys and so pay its debts. The principles on which the world’s | markets flourished had been forgotten i and must be restored. The axioms of I commercial mathematics were peremptory rules, and the nations should bind themselves together by the mutual grant of the most-favoured-nation privilege. Until the day when the world market once more included every country they should show in the smaller circle that commerce could to-day, as in the past, sustain both buyer and seller and spread employment and demand throughout the circle. The larger the circle the better, but let them at least agree on the principles, join the circle and make a start towards recovery. Sir Alan expressed the hope that discussions would convince the gold bloc that to maintain their currencies they must join in asserting correct principles and in restoring the exchange of trade, and would convince other nations that commerce would not thrive unless it was based on stable money.