12 SEPTEMBER 1930, Page 3

Rationalization at the British Association One of the most topical

addresses delivered to the British Association was that on Rationalization, by Professor T. E. Gregory, Cassel Professor of Banking in the University of London. If it contained nothing exactly new, it was nevertheless a very concise examina- tion of the nature and probable effects of Rationalization. Professor Gregory said that as Rationalization spread, and almost everywhere resulted in a reduction of costs, no single exporting country could hope to contract out of the consequences. To stand aside from Rationalization would be to abandon export trade. This in itself was a sufficient reason for pushing ahead with Rationalization.