To the same end the Swiss National Bank has jus made an appeal to the people, asking the population to stop hoarding bank notes and not to withdraw any longer from circulation funds necessary to national economy. The result of this appeal to the civie spirit of the population will not be clear for a few weeks However, the most recent figures published by the Swiss National Bank already give hope that it has not been made in vain.
Whereas the intense import trade and later, in May, the extension of the war, caused a heavy demand for foreign currency to be made on the National Bank, the French armistice brought an abrupt change in the situation. Owing to transport dificulties, orders were cancelled ' and letters of credit suspended. Moreover, as confidence in the Swiss franc increased, currency has been flowing into the National Bank during the past weeks.
"To wait'—that is the watchword for the moment. To remain vigilant, strong and united. To prepare for the changes which have been announced and for the necessary ad-optation. Swiss industries, well equipped and well organized, will prove supple enough to adapt themselves to circumstances. For Switzetland, it is not a question of luxury or prosperity. It is purely and simply a question of existence, Among the list appear two famous economists, Messrs. J. M. Keynes and H. D. Henderson, who have collaborated in economic matters on many occasions in the past. They were the joint authors of a widely discussed blet several years ago.
bers of the Consultative Com-fee will give their views, both individually "and collectively, on ihatters submitted to them by the Chancellor. It is probable that those views will be offered individually more frequently than otherwise,
Text read from the printed page and cleaned; old type leaves the occasional error.