WORLD FINANCE PROBLEMS

Hawera Star, Volume LIII, 17 June 1933, Page 9

WORLD FINANCE PROBLEMS

Investigation by Commission TASK FACING COMMITTEES Credits, Prices And Currencies EXCHANGE CONTROL AND LOANS FUNCTIONS OF CENTRAL BANK (British OEEjcd* l tireless.) Received 1.30 p.m. to-day. RUGBY, June 16. The committee- of the monetary and financial commission of the World Economic Conference this afternoon decided to recommend to the plenary commission on Monday the creation of two sub-committees, one on an immediate measure of financial 1 reconstruction and) the offer -o-n permanent measures for the re-establishment of an international monetary -standard. The first committee will consider the following questions : Credit policy, -price levels, limitation -of currency fluctuations, exchange control, and prdblems of indebtedness and the resumption of lending. The second committee will consider the functions of control banks and 1 the co-ordination -of their policies and monetary reserves and silvler. Mr Cox (America) welcomed the un-aiii-imouis agreement .reached qs a happy augury The committee also decided to invite the president o-f the B'ank for International Settlements a-ncl representatives of the financial committee of the League of Nations now an London to co-o-perate with the committee. GERMAN MORATORIUM EXTENSION^OF PERIOD. Received %15 p.m. to-day. LONDON, June 16. It was announced following a meeting of the Reichsbank representatives and the committee of creditors appointed last week that the standstill agreement had been extended to February 28.