BRITAIN AND AMERICA

Manawatu Standard, Volume LIII, Issue 263, 4 October 1933, Page 8

BRITAIN AND AMERICA

EUROPE WATCHING. While every nation in Europe is strenuously striving to adapt its local circumstances to the revolutionary changes in long-established economics, all are watching the widely differing policies of Britain and the United States with microscopic care and feverish interest (says a London message). The. Board of Trade returns reveal steady improvement in the trad© activities in England, together with an increase in food prices, which must greatly assist farmers and react on retailers.

Poor law relief fell 6.3 per cent, during the quarter ended June 30. Commodity prices are also on the upgrade, but the imminence of a hard winter may arrest the advances. American captains of industry who, two months ago, were afraid to leave their desks, are now coming to England and the Continent buoyed up with confidence that President' Roosevelt’s various devices will accelerate trade recovery. They claim it is the most stupendous economic social revolution of all time, and that the panorama of efforts, condensed into a field which trained eyes and minds can quickly grasp, gives evidence that the revolution is making reassuring progress toward the objectives. France and Italy, like Britain, however, remain somewhat sceptical, viewing Washington's sudden regimenting of 120,000,000 people as a gamble with fate. Paris bankers are prophesying that President Roosevelt will be forced to inflate, which, in turn and time, will, in their opinion, ruin his plans. At the same time, if Mr Roosevelt appeared reasonably sure of winning out. European nations would hasten i.u his footsteps.