Tripartite Talks Will Have Profound Bearing On Commonwealth Meeting

Chronicle (Levin), 8 July 1949, Page 5

Tripartite Talks Will Have Profound Bearing On Commonwealth Meeting

Received Friday, 10.5 a.m. LONP.QN, July 7. The first moves in the international„ effort to break the dQllar-sterling deadlock no.w threateiupg the whole of the sterling area's economy'will be made ha- London tomorraw in tripartite diseussions between British, Canadian and United States leaders, says Reuter's political eorresponderit. These talks between the two great dollar nations and Britain — banker of the sterling area — will have a profoitnd bearing on next week's Com'monwealth Finance Ministers' conference in London.

Leading figures in the tripartite talks, which are expected to last two dajs, will be Sir Stafford Cripps, Mr. Jobn. Snyder, United States Treasury Secretary, Mr. Averell Harriman, roving Marshal Aid Ambassador, and Mr. Douglas Abbott, Finance Minister of Canada. Mr. Snyder told pressmen today that he believed American purchases from tbe sterling area would increase again soon. The present falling off of such purchases was probaoly due to seasonal readjustments. Once these were made it was more than likely that there would be a renewal of purchases of raw matena.s for industry. The Lord President of the Council, Mr. Herbert Morrison, announced in the House of Commons today that th§ debate on the economic situation would take place on Thursday, July 14, and Monday, July 18. I Britain's daily export rate in June was the highest for any postwar month except last January, said the President of the Board of ; Trade, Mr. Harold Wilson. i I