Says "Statist"
January Figures London, Nov. 17.
Desp te the repeated confident pr: <phesies of ils imminent disintergrs ton, the gold bloc still stands, says the Statist" in an international bank ing mumber issued to-day. points out tary polley has played an appreciable part consolidating this position cwt recent American support of gold currencies.
The journal declares that, despite the examples of Estonia and Czecho~ slovakia, whose trade immediately. improved after they had abandoned the gold standard, the determination of the gold bloc to adhere to gold Yemains unshaken and they are avotd~ ing at all costs the dangers of intation.
An impasse, however, has been reached as the gold bloc is not willing to readjust currencies parities until they are certain that the whole world prepared for restabilisation. While ince Femains on a. free old standard, the journal adds, there is no necessity for Great Britain to contemplate an early return to the gold standard.
"There is a physical and moral Limit to deflation," the "Statist" declares, "and it has' been very nearly if not completely reached. by the gold bloc."
The article concludes by declaring that the weakness of the inherent gold countries are their budgetary posi-ions, increasing unemployment and their ever-growing difficulties in the export trade, and states that all maladjusiments resulting from their currencies being overvalued beyond the reach of internal deflation render their position untenable on a long-term view.
London, Nov. 14
Great Britain's overseas trade for the month of October, as shown by the returns issued by' the Board of Trade to-day, was in excess both in imports and exports of the figures for any month for the past several years, The Board of Trade to October show total of £57,738.408 and exports; amounting to £36,748,545 _against £33,957,248 in the previous month.
The figures for re-export were £4,001,668 last month and £3,249, 836: in September.
The figures for October of last year were, Imports £61,765,614, exports £34,130,088, and re-exports £4.57), 065." For the first ten months of the current year imports show increases over the corresponding period in 1933 of £56,174,518 and exports represent!
Text read from the printed page and cleaned; old type leaves the occasional error.