16 APRIL 1932, Page 38

Financial Notes


The report and accounts recently issued of the United Kingdom Provident Institution showed that mortality, interest earnings and the ratio of expenses continue to be favourable. At the recent annual meeting of members the Chairman, Lord Revelstoke, made sonic very interesting comments on the general financial situation and outlook. "Disregard of economic laws," said His Lordship, "had involved the whole world in a monetary deadlock which was slowly strangling trade," He could not probably have summed up more admirably and tersely the fundamental causes of the present world depression. The causes arc, of course, numerous and include some to which Lord Revelstoke did not refer, but he put his finger on the central cause in the foregoing observation. With regard to the outlook for this country, in particular, Lord Revelstoke was moderately opt imistic, pointing out that since our departure from the gold standard no other country had taken our place in the financial leadership of the world and there was no reason why, if we concentrated our aim upon efficiency and upon control of public expenditure, we should not, later on, take our former place in financial leadership. * * * *