Disaster Averted but Apprehensions Continue

Abstract

My Lords, I agree with what speakers favourable to the Government have said, in this Chamber and elsewhere, that the news from Basle and the improvement in the trade figures are grounds for some satisfaction. But before we follow Mr Aubrey Jones—or more exalted authorities—in talking of economic miracles, I think we should recognise, in the interests of realism, that all that has happened so far is that the situation has been prevented from becoming worse. Whatever may be the extent of our deliverance in the future, we are still months, even years, away from a state of affairs which can be free from deep anxieties.