THE Two URGENT TASKS.
The Prime Minister is to be commended for haying referred in his Guildhall speech to what are unquestionably the two most urgent tasks of the Government, namel). the restoration of the trade balance and the stabilization of the pound. These two problems are, of course, linked together and, indeed, they are also linked with the other problem to which reference has already been made. namely, economy in National Expenditure and the balanced Budget. It is quite possible that having regard to the urgency of the currency problem the Government may deem it necessary to impose quickly some restriction on imports by way of tariffs or other procedure. Such measures, however, while possibly necessary at the moment should, I think, be regarded as temporarY and emergency measures, for the main problem for this country is that of a reduction being effected in working costs and a reorganization taking place of sonic of our industries sufficient to ensure a real stimulus to our exports. -Hawever,- it is possible for the moment (Continued on page 656.) ".
Finance—Public and Private
(Continued from page 654.) that restriction of imports must be necessary so long as the trade balance is heavy against us. I am not at all sure, moreover, that this weapon of import duties would not be useful in bringing about a greater measure of co-operation between the various countries with a view to the removal of tariff barriers and the promotion of freer international trade.
Previous page
