| Show BANK OF ENGLAND BOOSTS ITS RA RATE If p I Inflated Credit Declared to toBe Be Direct Cause of Advancer Advance v r t. t London April 15 i. Tho Increase In n tho minimum rato rate in Tt n discount from 6 to 7 j per cent toda today by uy tho the Dank Bank of England has removed remo el the tho uncertainty which his been hanging o over or r tho the mar mar- ket It was considered red bourn bound to come comeIn comeIn comeIn In view Ic I of the Inflated d credit position poI Hon tion and the continental financial situation sit nation and especially regarding regarding ex exchanges eX- eX I changes unton cs and may possibly stabilize tho latter hater later It I probably will viii wil not not however er affect American exchange exchange- On One reason for tor the present move mo Isto Isto Is Isto to bring the tho rate rale In line lino Ino with wih other centers The rate rale hn has been at C G per percent percent percent cent since November o 5 last Tho burden o of the 7 i per pcr cent rate on the trade o of the country which Is Just will wil Ili bo he be great reat Trade and finance nance however howe arc are expected to settie settle set set- tie tle down to the new conditions In thc tho ho hope lopo 1010 that necessary deflation of oC credit will follow and also assist towards nor- nor 11 conditions In the prices pries prices prices-of or of r commodities and ant the cost of or living Says Sas th the monthly review rc of Barclays Barclay's Barclays Bar Bar- clays clay's bank limited of or Lon London on In the March Arch number At t the present tIme lime the tho money mone maris mar- mar k t Is changing over o cr from a war to a a peace footing To this end the ss- ss lcm cm of creating unlimited credit credItt had lo to u ue ur w lur u I it n n u U Our ir currency notes noh's would ha have havo depreciated depre depre- elated more snore and more as lS time went wenton on Difficulties mt are bound to ars arise but but taking a long Ic view v. the result resul Willbe will willbe wi be he beneficial and even en e should IndUstry Industry Indus Indus- tr try for tor a time bc he somewhat hampered i h by a R shortage of or credit even e the In Infinitely In- In finitely I less damage will vill wi result than would woud have ha accrued by I Ia a continuance of th the process of or credit inflation Our credit structure Is still tIlI tl c cd an and most business s men financiers economists nr are arc agreed that our l' l policy ll should bc he not nol to create further further fur Cur ther credit but bul to endeavor or b by ever every means menns to reduce prices m and so 10 make the c existing volume of oE cre credit cret t luste x The Tho cont continual I rl rise rio c In prices which wc e have hae Witnessed d constitutes a grave e danger anser to the worl worlds world's credit structure and through h HM its I unsettling effect on n labor Jabor prejudices th the return to norma normal nor nor- PI ma mal condi conditions Ions of prod production V MW I Youk cu OItI n u II 11 T 1 m. m Rr 1 th II rol J 1 II fl Smoot Oot C C. 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