Loma KYLSANT ON THE GOLD STANDARD.
It is often difficult in any academic controversy concerning the merits or demerits of the Gold Standard for the ordinary man to arrive at a clear conclusion, for the reasoning of both sides tends often to produce nothing but confusion in the minds of other than the absolute expert. For my own part, therefore,
I always disposed to lay special stress upon what may be called_the practical evidence of the business man, and I stress the " business " man, as opposed even to the banker or currency expert. And among our business men few, perhaps, are more typical or prominent than Lord Inchcape and Lord Kylsant. The former, we know, is a whole-hearted supporter of our return to gold, and now I observe that Lord Kylsant, whose shipping activities bring him in touch with the world's commerce, at a recent meeting of the London Maritime Invest- ment Company paid, a glowing and practical tribute to the Gold Standard. He said :— "'I am one of those who believe in the wisdom of Britain having returned to the gold standard in 1925, notwithstanding that our export trade may for a time have been somewhat restricted as a consequence, before the salutary results of the gold standard became effective. emr return to the gold standard has had a far-reaching influence in the restoration pf more normal financial conditions generally throughout the world, and has also assisted in bringing about the stabilization of foreign exchanges,' whose violent fluctua- tions had had for a considerable period a very detrimental effect upon our overseas trade. The result of -this momentous step has been to pave the way for the gradual return of more normal trading between one country and another."
Previous page
