Interesting Address to Rotary Club Weekly Tiffin the tiffin meeting of the Rotary (Club held on Aug, 10 at the Metre Pole Hotel, Mr. W. W. Lockwood, Jr, gave an ' interesting address on What made us poor—The veal cause of the depression." The speaker Was introduced by Mr. A. R. Hager ind Mr. Perey Chu, vice-president, occupied the chair.
Lockwood, in the course of dress, said there are innumer-ions of the depression days. Some. people find the basic cause in the attempt to collect. war debts and maintain high tariffs walls at the same time; others point to an alleged failure of the gold supply, Many recite the magical phrase "Oversaving," while 'Mr. Keynes believes firmly that it is not oversaving but the lag of invest~ ment behind saving. Perhaps the commonest explanation accepted In America, at least, to-day is over~ Production, though' those respectable people who repeat this theory hard-ay suspect that they are lining them. elves up as orthodox deseiples of Karl Marx.
Text read from the printed page and cleaned; old type leaves the occasional error.