The possibilities of rapprochement through political and economic collaporation were dealt a severe blow by the removal of Dr. Hjalmar Schacht from the Governorship of the Reichsbank and his principal collahorator from their positions in the bank.
City circles are now favouring a plan aiming at cresting such prosperity in Great Britain. France. and the United States, that the totalitarian states would be compelled to follow in their wake. They would then be obliged to give up their policy of closed economy, their principal arm of the present "war." The fact that the three democracies own 90 per cent. of the world's gold and over 80 per vent. of the world's raw materials, Jead the advocators of such apian to deduct that the three countries would be in a position to create exchange currents and unprecedented prosperity if they were to establish fixed relations in their currencies and lower their customs tariffs. The establishment of fixed parity rates would call for an amalgamation of their gold stocks, but this would not be dangerous and would even suppress all present risks since specula-tien would die out.
A fixed currency rate would immediately favour business.ecovery and would allow banks to extend large credits to producers.
Economists admit that suc.: a plan would mest with difficulties in fixing the Sterling-US. Dollar parity—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.