Evening star., 1925-05-08
Gold Standard Praised.
Press Lauds Britain for Return.
Great Benefit Seen.

OTedl DtkichI CCCh.
The announcement by Winston
Churchill, British chancellor of the eX-
chequer, of the return of his country
to the gold standard IS warmly ap-
plauded in this country where the pol
icy is recognized as creditable to Great
Britain and beneficial to the entire
world Much emphasis is placed on
the sacrifices Of the English people
that have made this step possible.
"One of the most important actions
by a leading government since the
armistice.' is the verdict of the Pitts
burgh Times. which sees cause
for congratulation in the fact that the
election in Germa ny failed to delay re-
turn to the gold basis in Great Britain.
The completeness of Churchill's state
ments of financial policy impresses the
Birmingham News, which suggests
that he has enough American blood
in his veins to make him amazingly
frank" The News predicts that as
result of this action an industrial re-
vival will be brought to the British
people.
Discussing the effect upon the world
at large. the st. Paul Pioneer Press
says: "The return of England to the
gold standard marks the safe passage
Of the world through one of the grav-
war. For America in particular is the
event of the utmost importance" The
Dallas Journal also notes that the
fact that $500, 10000. 900 Of American
money is back of the program gives
proof of our interest in the matter and
strengthens the psychological effect of
the British action on the world at
large" The effect upon Europe, espe-
cially. is aualyzed by the New York
-.,N- II, Az FL ia
far as the restoration of the gold
standard implies a general stabiliza-
ton of exchange transactions, the re-
suit is sure to be felt in France
The United States and the British
Empire are hailed by the Chicago
Tribune as the stabilizing systems of
the world today, and the Tribune sees
evidence that the area of financial
and commercial stability has been eX-
tended. and the trade of the world
released in great measure from the
painful checks and costly uncertain
ties of the period following the war"
What England has done other nations
of Europe can do, asserts the Los
Angeles Times, provided they are
willing to make similar sacrifices"
sure that Several other countries will
follow Great Britain in returning to
gold" and says of the result in that
country: The jingle of the guinea.
or rather of the sovereign, will soon
again be heard. and it will sound
pleasant to English ears, more accus-
toned than our own to the clink of
coin"
THE pound is returning to par be-
cause realities have been accepted
and no one has dreamed of a miracle
from heaven which would wipe out
the national debt. restore industry
effort" the Toledo Blade observes.
after all, it is the way in which
obligations are met and discharges
that makes the true test of credit,
whether among individuals or ma
tons" is the judgment of the
Charleson Evening Post. THE chan
cellor's budget speech indicated salts
factory conditions in other respects
and it would seem that the English
people have reason for optimism so
far as government finances are con-
cerned." says the Providence Bulle-
tin. British craftsmanship is con-
graduated by the Spokane Spokes-
man Review, for the important serv-
ice it has rendered, and this paper
adds: Undoubtedly the British man
ufacturers are eager to do their part
in the important work of restoring
the country's foreign trade
X II u X
The New York Evening Post be-
iieyes the era of deprecated curren-
cies is near the end and that normal
ity is brought nearer" 1t is the best
sign of Europe's return from war to
peace conditions. in the opinion of the
Grand Rapids Press. Our apprecia-
ton must be accorded a people that
has fought for honesty and integrity
against such Odds" says the Detroit
News 1.-The gold standard may be a
matter of sentiment. but sentiment
has more effect upon such unsenti-
mental matters as trade and COM
merce than this world dreams Of" is
the comment of the Hartford Times.
England is at this moment exert
ing a stabiliZing influence throughout
the world scarcely less than that of
the United States ITSELF" the Harris.
burg Telegraph declares. THE mass