TRADE AND PEACE

Evening Star, Issue 22463, 7 October 1936, Page 11

TRADE AND PEACE

VALUE OF STABLE ECONOMIC RELATIONS

INTERNATIONAL GO-OPERATION URGED BY LEAGUE.

(British Official Wireless.)

RUGBY, October 6, (Received October 7, at noon.)

The Economic and Financial Commission of the Assembly continued its debate at Geneva on the report of the League’s Economic Committee.

The Belgian delegate declared that Belgium would support any attempt to organise expansion of world trade by the concerted action of all Governments.

Mr S. M. Bruce (Australia) said the present debate was perhaps the most important ever held under the auspices of the League. Economic questions were often more significant than political ones. If a serious effort was made to re-establish general prosperity rapidly the danger of war would be avoided.

A draft resolution, tabled following Mr Morrison’s speech, reads: “ The Assembly, noting with satisfaction, the joint declaration of the Governments of France, the United States, and the United Kingdom on September 26, and the adhesion thereto immediately given by several States, recognising that the declaration harmonises with the recommendations made by the Economic Committee of the League in its recent report on the present phase in international economic relations, considering that a policy designed to re-establish durable equilibrium between the economies of various countries, to lay more solid foundations for the stability of economic relations and to promote international trade would effectively contribute to the consolidation of peace and the restoration of international order and growth of world prosperity and improvement in the standard of living of the peoples, affirms the general desire of the States’ members of the League to pursue realisation of these objects, and invites all States, whether members of the League or not, to cooperate fully to that end. It urgently recommends States, as an essential condition of final success, to organise without delay determinate and continuous action to ensure the application of the policy indicated to reduce excessive obstacles to international trade and communications, and in particular to relax, and as soon as possible to abolish, the present system of quotas and exchange control.”

HR BRUCE’S SUGGESTION

SMALL CONSULTATIVE BODY.

LONDON, October 6 (Received October 7, at 2 p.m.)

Mr Stanley Bruce suggested that the Assembly authorise the Council to appoint from the Economic and Financial Committees a small consultative body with power to co-opt members from outside, for instance, the United States, which could act as a focal point for the investigation of economic problems when required. Mr Bruce, however, stressed that the first steps should be taken by the Great Powers, especially the creditor Powers.

Mr Bruce added that he considered Mr Morrison had overstressed the importance of acting slowly, as time now was of the utmost importance.

The special Geneva correspondent of the Associated Press says that, although the personnel of the Economic Committee Is outstanding, Mr Bruce’s speech was generally regarded as the most valuable contribution thus far.