CURRENCY POLICY

Hokitika Guardian, 22 June 1932, Page 5

CURRENCY POLICY

PRICE CONTROL

CONSIDERATION AT OTTAWA

(United Press Association—By Electric Telegraph.—Copyright.)

LONDON, June 21

“The Times," commenting on the fact that the Governor of the Commonwealth Bank, and Mr Douni© Stewart (N.Z. 1 delegate)" Me interested ih the currency problem, gays;—“lt, is inevitable that the ' currency question will occupy tan important place on the Ottawa Conference Agenda. Britain’s recovery of financial stability gives her a prestige she needed to make her initiative effective. Y\ hat ith© Dominions' want is the establishment of an international monetary sy;:tem under which prices would be i. stored :o the 1929 ievei, and under which bdlh prices and exchange wou.d be stabilised. With the world conditions .so unstable, however, it is not •reasonable to expect that Britain will commit herself to any permanent policy,' but due of the "tasks at Ottawa will be to consider how far the Empire Government can co-ordinate their checking the present /disastrous tendency of prices.” Times,” m tv leading article. »aya: "The currency policy, which is to, be discussed at the Ottawa Conference, has become one of almoft life ! and death, to the Dominions. It ajso indirectly affects. Britain. Th e Domin- j ions will- look to Britain to isoAve the problem, and to terminate, and possibly to reverse, the downward movement of prices; but they do not expect th e im- j possible, recognising that the necessary conditions can be .secured only by an international agreement.

URGE FOR RECIPROCITY

CONFERENCE IN CANADA

VANCOUVER, June 20. A message from Regina, in Saskatchewan Province, states: If a market for Canadian products is, to be secured a'j the Imperial Economic Conference, then .a market for products from other parts of the .Empire must h e opened in Canada. This is one of the conclusions reached to-day by the heads of the four Western Provinces, who are meeting here to discuss 'the submissions ' from the WesF to the Imperial Economic gathering. The dil-cussions covered a stabilised currency, the live .cattle industry, the dairy and bacon industries, th e establishment of : ;a permanent inter-Empire Board, and the lumbering industry. Interest attached to this meeting because it 'is -the first step taken by the Provincial Governments, acting in con-

cert, to advise the Dominion Governments on the policies to be Aaid before the Empire gathering. Those who attended the conference included Premier J. r T,.' Anderson i (Saskatchewan), Premier J. F. Brownlee (Alberta), Premier IS. F. Tolmie (British Columbia), and Attorney-General W, <L Major (Manitoba).

AUSTRALIA OPTIMISTIC

SYDNEY, June 21

The. Federal Minister of Custom's, Mr Gullett, in a farewell speech at Sydney to-day, said that he wa,s certa’n that great benefits avould come . from the Ottawa Conference, not only to the pastoral industry, 'but to tile small farming irrigahionists, orchardists, dairymen, poultry-raisers, and winegrowers.