BUT A ATTEINDRE À L'INTÉRIEUR DE L’EMPIRE ET À L’EXTÉRIEUR
L'étude technique de l’Union sterling standard peut se circonscrire à celle de la conception monétaire anglaise puisque, dans le Bloc Sterling, tout concourt à la stabilité
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de la livre, au rétablissement économique anglais et que toutes les mesures tendant. vers ces résultats sont prises par un état-major de techniciens résidant à Londres.
La tendance générale de cette politique nous est révélée par le document suivant à notre sens extrêmement caractéristique. On ne saurait trop lé méditer, car il reflète l'esprit réaliste des promoteurs du redressement anglais, réalisme qui est le secret de la puissance de nos voisins. Ce document d'inspiration gouvernementale a été adressé en 1932, sous forme de circulaire confidentielle, aux membres de la Fédération des industries britanniques, en Voici la teneur :
FINANCIAL POLICY
The Féderation assumes that no steps will be taken to return to any international standard at any rate until thére is full assurance that it would both serve the industrial needs of Great Britain and the Empire and that its ruls would be observed by the other countries of the World.
The Government should direct its immediate efforts to building à British system based primarly on the Empire and secondly on such other countries as desire to come into some system related to sterling in the hope that this may provide à reasonable measure of stability and prosperity for Great Britain and the Empire and in due course form the nucleus of à new world financial system. The Federation would recommend as the first steps necessary.
A. Imperial Monetary Co-operation.
Serious consideration should be given to the advisabilitÿ of Calling and Imperial Monetary Conference at an éarly date to examine the practicability of establishing
LOGE Empire co-operation in currency and monetary matters. The aim should be stability of internal prices throughout the Empire to enable the partner nations of the British Commonwealth to secure for themselves the benefits of stable exchanges and of comparatively stable prices within the Empire, and to give by their success en encouraging example to the world.
B. — Investment policy.
The Policy of Imperial development based upon the extension of inter-imperial preferences and the establishment of Empire currency co-operation should be assisted by some degree of concious direction of investment.
British overseas investments should be directed to the: development of countries which can absorb British goods an reply us by the export of their own complementary products rather than to countries whose products are competitive with our own and who only repay by successfully underselling our own producers.
