PROSPEROUS COUNTRY
" I feel myself moving uneasily between a cautious optimism when I consider the position of this country and a very helpless pessimism when I look abroad. Great Britain to-day is decidedly the most prosperous country in the world, and here the trend seems to me to be slightly in the right direction. But that is not saying much " (said Mr J. M. Keynes in a recent speech). "The pre-war gold standard worked because it was in truth a sterling standard. When gold went off sterling last September it doomed itself as a currency, at least for the time being. We have been forced, it is true, to step down for the moment from the position of international leadership in finance. But our place has not been taken by anyone else, and I feel confident that, unless we lack the pluck, we shall soon be strong enough to resume our old position with the heightened prestige of holding it in virtue of having surmounted present difficulties."
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Bibliographic details
Waipa Post, Volume 44, Issue 3178, 17 May 1932, Page 7
Word Count
167PROSPEROUS COUNTRY Waipa Post, Volume 44, Issue 3178, 17 May 1932, Page 7
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