The specific nature of the remedies for world depression set forth by Mr. Bernard Baruch, the American' financier and economic expert, argues a courage which has hitherto been more associated with the armchair economist than the proc cal man of affairs. That so pro minent an authority should commit himself to an - outline of seven points, the ensuring of which he maintains would cure the present, prevalent economic and political illness, in a manner which will inevitably bring down upon his head a criticism, is his remedy to be given serious attention, Mr, Bernard Baruch has won for' himself in. the councils of his country, if not the world, a place which few others possess. In addition to private activities, he has been a member of numerous presidential commissions upon industrial matters connected with the prosperity of the United States, He was one of his country's economic experts during the peace negotiations, That his services to the world have been appreciated is shown by decorations bestowed upon him by Belgium, France, and Italy. Mr, Baruch's seven point: therefore, assume an importance they would not possess in the mouth of any less weighty person. What the world needs at the moment, "he has. said, is peace: a partial restoration of silver values without resort to Dimetallism: recognition that Europe's economic troubles are dependent upon a solution of political problems: formation of an organisation, inclusive of the United States, which would remove European political uneasiness: lower taxes. in, the United States, by the repeal of the prohibition law: cussion of tariffs, war reparations, provided the tax-in the United States is guarded: and an increate in the price of commodities on the: ground that there would automatically be a decrease in The primary bearing of the wen points. upon matters ting the United Sta justifies the deduction that Mz, Baruch admits that the world problem calls for united in preference to individual action. Few will quarrel with his pr scription of peace. From one who had a hand in negotiating the peace which was to "make the world safe for democracy," it is an admission that the condition which now prevails only the peace of exhaustion. Even now diplomats of the world fare preparing for the Geneva Disarmament Conference at which, it is hoped, a furrier definite step towards the reaiisation of peace upon a more solid basis will be taken. His second recommendation a direct ating upon affairs Chinese. Bi-metallism has its advocates among the most prominent. business men associated with this country, and therefore there will be disagreement with Baruch's reservation. He will not have overlooked, the circumstances, however, "that, bimetallism may yet raise its head as a serious political in the United States, Presidential elections in that country were fought on that issue at the end of the last century, and the bimetallists, backed mas they then were by the silver producers. had to admit defeat, His third and fourth points are correlative with his first, peace; though there is a school which holds that Europe's political troubles are dependent upon a solution of its economic difficulties, rather than the other way about, His fifth point affects the United States' domestic noliey, and its influence upon world affairs can only be indirect. Upon his sixth point, however, it will be agreed that much hinges, There again he covers himself from gritigism by political opponents inches home country, fon in favour of the tax-Pi yer. But in industrial Ameri ca itself there has grown up
Text read from the printed page and cleaned; old type leaves the occasional error.