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The New Zealand Railways Magazine, Volume 5, Issue 9 (April 1, 1931)

International Cure

International Cure.

This critical contest between economic ideals and political objectives, affecting the English-speaking world and impoverished civilisation generally can be approached from two ends. From the national end, giving rise to such separate policies as one witnesses in Britain, Australia, America, France, Germany, Russia, etc. Also, from the international end, where hope centres on some big agreement for reduction of debts, removing the throttle on trade and industry. Australia's moral claim for reduction of her British debt emphasises Britain's moral claim for reduction of her American debt. With the fall in prices (appreciation of gold) all the debts are doubled. “The British annual payments to America of thirty-three millions are now really sixty-six millions,” says Mr. Francis Hirst. Ditto the German debt, the Australian debt, and others.