"The Administration's monetary policy has rescued us from chaos and now the spearhead as we advance steadily toward the goal of recovery" he, said.
"Of course, if we want more paper, there are plenty of international bankers to arrange the -details. At present, however, we are receiving, place of paper large shipments of [gold and silver. Some of this metal {sin settlement of trade balances, while some is capital seeking the re-Tuge of our sound currency.
Criticlzing ex-President Hoover's policy, the Treasury head said that from July, 1914, tothe end of 1932, the United States exported $47,000,-
Chancellor of the Exchequer, in speech at the annual bankers' dinner in London to-night.
there were 10 be a return to the gold standard, he said, it could only be by a satisfactory settlement among the great countries. It was useless anchoring a ship if the anchorage were always shifting, and it seemed futile to attempt stabilizalon unless there were prospects of permanency.
"Stabilization is one of our ultimate objects," declared 'Mr. Chamberlain. 'We shall continue with that end in view and shall not hesitate to act when it is likely to result usefully'
Mr. Chamberlain urged the resumption of international lending, and als stressed the importance of a revives of international trade, which, he said, "can only be achieved be go-operation of other countries."
He declared that other objectives included a rise in wholesale prices, in the direction of which there had lately been some movement; and the lowering of excessive tariffs, quotas and exchange controls, in respect of which he said, "I see some signs of changing conditions.'—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.