17 AUGUST 1944, Page 12


SIR,—Mr. St. Clare Grondona suggests the setting up by the British Government of a Price Stabilisation Corporation to keep price fluctua- tions within narrow limits. Isn't something wider than a British Cor- poration necessary for this? Fluctuations are world-wide in their effects. The collapse of prices of primary products in 192o, 1929 and 5937 caused world-wide trade depressions with dire consequences of unem- ployment, financial losses, &c.

If we are to avoid the recurrence of such periods of unemployment we must prevent the collapse of prices. Would not the fixing of prices by international agreement be the surest and most direct way of achiev- ing this object? A dozen years ago international agreement on economic problems was impossible, but events have moved rapidly since then. Sugar and wheat agreements have been achieved. International agree- ment is implicit in the Atlantic Charter. The tide is flowing in that direction. " On such a full sea are we now afloat and we must take the current when it serves, or lose our ventures."—Yours truly,

Ainsworth House, Breightmet, Bolton. ABRAHAM LOMAS.