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The New Zealand Railways Magazine, Volume 8, Issue 3 (July 1, 1933)

Home Experimenting

Home Experimenting.

Even as the London World Conference sits. Congress completes further legislation which, according to the cablegrams, gives the President, through a board, powers to fix wages, hours, production, and prices in five major industries. Here, then, is a President possessing complete authority to fix the value of money, credit, prices, work—a great experimenter in a little world of his own, a world of some 130 million people. Not having properly begun in his own world, can he make close commitments in monetary and tariff matters with the outer world? That seems to be the main problem at the moment before the London Conference. As things are liable to change from hour to hour, it is to be hoped something more definite will shape itself as the sands in the hour glass run down. But to under-estimate the difficulties would be of no avail. There can be no quick cure.

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