WORLD'S FINANCIAL PROBLEM.

Wanganui Herald, Volume LIII, Issue 16032, 24 January 1920, Page 7

WORLD'S FINANCIAL PROBLEM.

' FAVOURABLE SIGNS. Australian and N.Z. Cable Association. LONDON, January 22. Mr Chamberlain, speaking at Birmingham, and referring to the world's financial situation, said the first thing the European, nations must do was to set their own houses in order and stop borrowing from one another or from their own people to meet current expenses. He believed the national debt had reached its maximum. Once we turned the corner, which he believed would be next financial year, it would he our business to consider the finding of the large existing floating debt, thus removing from commercial and financial centres the cloud of anxiety which at present , rested on them. There were some favourable signs in the situation. Trade was very prosperous, and the adverse trade balance was being rapidly reduced. It did not exceed 150 million sterling for the past year. He would be disappointed if the new year did not close with the deficit being converted into a balance in our favour by at least 160 millions. He expressed the opinion that in adew years we would be able to look back on our present trials and difficulties as a historical curiosity.