THE VICIOUS CHICLE.
From this point the Premier went on to show how a lack of financial confidence all over the world had reacted upon the London Money Market, the situation in Germany, in particular, leading in its turn to gold withdrawals from this country for the simple reason that we had been known to be endeavouring to prevent a financial collapse in Germany; and, further, the Prime Minister showed how this lack of financial confidence was also linked with the impairment of international political confidence so that there was a sense in which financial and currency problems were not so very far removed from the problem of international disarmament itself—a matter which is likely to engage so much attention in the New Year. Reparation Payments and War Debts are also among the problems which cast a cloud over the future.
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