We publish on page 98 a letter from Mr. Kitson,
in which he asserts pat the threat of deflation has resulted in various trade organizations warning their members to stop buying, and that there is alarm through- out the industrial and commercial world. Though this seems a natural reaction, it is strongly denied by those who desire a rise in the Bank Rate. Will our readers who are buyers tell us what is their own experience ? We do not ask for abstract discussion, but for information as to whether the fear of falling prices is or is not checking trade. Correspondents who do not wish their names known in this connexion may rely upon our discretion. In this context we may note as a very significant sign of how public opinion has been aroused that John Bull, in its issue of July 19th, prints an article by Mr. A. G. Gardiner under the heading " Crucified on a Cross of Gold." The case against deflation is there stated with force and ability. We recommend it to the attention of our readers.
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