Ogden Standard-Examiner | 1927-04-17 | Page 8 | Easter Finds England with Big Load Lifted

EASTER FINDS ENGLAND WITH I BIG LOAD LIFTED UNITED STATES AND ENGLAND GIVEN DIVEN BLA BLAME E EF F r e c ii 11 C Ii h Declare They Killed Arms Parley In Iii Geneva fly By nl One or of tho t ls or of France 1127 I y Consolidated Press Association F AnIS April Joint ob- ob Ion by the United States Slates and Grat Gr-at upset the expected 3 r ment on dIsarmament at atOn at On n na va a this w k the great majority of r 01 other ter nations represented the 1 1 States and England main maln- d their viewpoint that the theOD theony OD ony effective navaL na disarmament t 1 by categories or of ships It Is their right to hold bold this view sich forms the basis or of the forth Corth with Japan oming tete teto-a-tete Great Grent interest In main maln- this principle is 11 obvIous W With n. n budget deficit or of and naval expenses or of 2800 o 0 0 any agreement to cease the thel a l race operates to guar guar- guarS S tCO Great Britain naval a. a ay nt at small cost since In the long longun longun un the strength or of a navy lies not th guns and armor plate but In s. s lors France md nd Indeed the entire European continent has other wor- wor worris rI ris III namely Europe's economic and financial future or OP CAPITAl A few months ago we wondered wether a world crisis was not coming with a. a universal slump slum 11 es This fear is not so acute toJ tod for the surplus of capital j I-blo I throughout the world is 1 tr enormous The Ih United States Stales has placed or of new capital In the pat paL three months against 1150 during the liMIt first quarter or of 1 26 AgaInst these CI figures ures place Vu following Germanys Germany's savings Increased 75 p per r cent Jr d Ing 1926 passIng from Crom onn to Frances say say- s deposits are h 1 Ing Increased In th thc past three months The national tr asur ts receivIng money In tor tor- rents reath The Bank or of France rance hM has more than In Ingold Ingold gold tn In the past eight months ant an anthe the treasury and can t thus repay repa the Bank or of England Ingland 3 pounds sterling thus thul possession or of pounds gold Jold which will bo be used by bythe the e Bank or of France Franc In London and op OF GOr Gorn The flow or of gold toward lr Hed States causes some Before BeCore the war the U States had 20 to 25 per cent or of the worlds world's gold Jold which then totaled about Now r-ow it has hasa a irly 50 per cent of the supply I which has risen to And although the United States State a ac c has been enrIched more moreIn In proportion than the rest or of the world Its gold requirements have not increased in proportion There There- Therefore fore If Europe returned gradual gradual- gradually ly Jy to the pre war proportion of oC gold reserves S would fall ks As for Cor the future world prices priceR wl depend on the policy adopted by tho banks of emission Q t 01 The effect or of this situation today n LIl unemployment crisis through through- o C Europe duo due to a lack lacle of mar mar- marS S 1 S. S European exports are 10 per perc c flit t below war pro levels le and the thea a x 8 or of world trade has shifted frOm the Atlantic to the Pacific whre the tho present disturbances Dl a I seriously limit It moreover Is re- re duin wages and low production cots are arc the result This means th t European competition wilt will bo be felt In world markets Note oto a aLso o that the majority of r banks have ha reduced the thed d rate The Bank Canle of France t 1113 week came down to 5 i per cent the SAme as England and the tho Ger- Ger German German man man This drop Indi- Indi Indicates cates that Europe Is II returning to 11 old saving habits and that the that economic difficulties created reate by bythe bythe the war and Its consequences ar are nearing an end