The World Danger and the Way Out
Publication:
The Empire Club of Canada Addresses (Toronto, Canada), 16 Apr 1931, p. 117-131


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The World Danger and the Way Out


Looking back to the events since the war; seeing that the bankers of the world have taken greater risks than ever in their history; why and how this is so. Difficulties with credit and loans. Some dollar figures to show where we are now. The speaker's judgment that they have done everything possible to maintain world prosperity and advancement. Bankers today in a position to give infinitely greater credit than before, and prepared to do so provided the necessary security. Reasons that bankers cannot take risks. Every country in the world today engaged in preventing trade, not extending it. The businessmen of the world keen for business, but the statesmen and the politicians blocking it. The need for an insistence on change. Problems with protectionist policies. Reasons for the trade depression in the world today. The time to think internationally. Suggestions for change. Dealing with the debt problem. Ways in which Germany is responsible for the situation into which we have been plunged, with economic figures. The factor of Russian competition. Some words about the Russian Five Year Plan. Asking for patience from the peoples of all nations of the world. Various upheavals throughout the world because of the economic situation. The difficulties of each country due to a world situation, not a national situation. The need for governments to come to an agreement to apply common and universal remedies. Suggestions for remedy, especially with regard to derestricting trade. Optimism for the future.