WORLD’S ECONOMIC ILLS

Evening Star, Issue 22462, 6 October 1936, Page 12

WORLD’S ECONOMIC ILLS

DISCUSSIONS AT GENEVA PROBLEM OF RAW MATERIALS (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, October 5. (Received October 6, at noon.) A cull for the complete removal of exchange restrictions and quotas so that international trade could attain increased prosperity was made by Mr W. S'. Morrison, in a speech to the League of Nations Economic Committee He said that the British Government would be faced by very strong pressure on the part of certain interests iu the United Kingdom to counteract the intensified competition which would result from revaluation on the Continent. Such pressure would be difficult to resist, and he called upon other governments to help the British Government in this respect. Before the committee’s business concluded he hoped to submit for consideration two resolutions, the first to cover the question of exchange restriction and quotas and the second regarding commercial access to raw materials. He suggested the appointment by the Council of the League of a committee composed of representatives of the Economic and Financial Committee of the League and other qualified persons to undertake a study of the entire problem of raw materials and furnish the League with a report. M. Bastid said France hoped that other countries would follow her example, bringing about a new monetary system. This was necessary to assist the economic recovery of the world. In reducing one-quarter of its quotas and its Customs tariffs the French Government had made a gesture to the world, but this could not have been done without realignment of the franc. Other countries would also have to reciprocate. The French Government was willing to take the necessary measures to liberate capital and' make the circulation of money and goods easier. On Mr Morrison’s proposal, M. Speinashe (Minister of National Economy in France) was appointed rapporteur of the work of the committee to the League Assembly.