14 NOVEMBER 1931, Page 28


Moreover, this view of the outlook would seem to find confirmation from the nature of the Prime Minister's speech at the Guildhall. On the present occasion it was only natural that chief stress should be laid by Mr. MacDonald upon the crisis in this country with less time devoted to a reference to foreign affairs. Nevertheless, ;the Prime Minister had no difficulty in linking some of the features of the recent crisis at home with the state of, affairs abroad. In particular, I would draw attention to his reference to the recent currency crisis culminating in our departure from the gold standard. That crisis, Mr. MacDonald pointed out, was not created by our internal position only. We had, he said, a certain internal weakness, but our eurreney problem was created by the conditions of the world outside, and that problem, he added, " cannot be successfully faced until the con- ditions of the world outside have been improved."