FINANCIAL NOTES.
There are still few bankers who speak with greater authority on questions of currency and the gold standard than Sir Felix Schuster. No small amount of interest, therefore, will be taken in financial and, indeed, in economic circles in the striking address which he delivered on Wednesday to the Liverpool Chamber of Commerce on the subject of our own and foreign currencies. Sir Felix is amongst those who not only advocates a return to the gold standard but expresses faith in our ability to do so at no distant date, and in his address at Liver- pool he certainly gave some good grounds for the faith that is in him. He also strongly supported the recom- mendation originally made in the Cunliffe Report that the currency note issue should be transferred to the Bank of England, which, Sir Felix said, could be trusted to carry out our currency arrangements " with the greatest care and with regard only to the well-being of the country." " There is," he added, " no more com- petent body to which such a task could be entrusted." Sir Felix advocated no rash withdrawal of the prohibi- tion of gold exports except under Government licence, but that gradually and at suitable opportunities licences might be granted more freely, until eventually the free flow of gold both in and out is once more restored. A. W. K.
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