21 APRIL 1933, Page 34

Lord Revelstoke is evidently a believer in the future of

the United States, and he lays emphasis upon the influence of America's buying and productive power on the price level. Referring to a recently published essay in which the newly elected President of the United States makes use of the words " I believe that we are at the threshold of a funda- Mental change in our economic thought. I believe that in future we are going to think less about the producer and more about the consumer," Lord Revelstoke said : " If this is, as I believe it to be, the voice of America making itself heard, in simple language, through the mists of artificiality and restraint, and if the American people are really standing on the threshold of a new era, it is difficult to resist the conclusion that the world's recovery and the liberation of mankind may not be so far off as is sometimes supposed !"

A. W. K.