CURRENCY MATTER

Hokitika Guardian, 9 August 1932, Page 5

CURRENCY MATTER

Vital question

CONSIDERATION AT OTTAWA.

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

, <£~ / . OTTAWAAugust 7. / The Conference is- now facing the . days of;: vital decisions. : Currency is the matter that stands in the forefront. The economists and the harming advisers conferred last night, when large numbers of' ■'the/other officials } and the delegates were absent at / ; Niagara. These financial experts, ;V usually of a, retiring disposition. 'have become conspicuous, undbf ' their suppressed they .having reached a momentous. recommendation. • There was an important meeting of the Anglo-Dominion Ministers at the Chateau Laurier to-night, when they were considering the economists’ report. The report" is likely to lead, to a new and vital development. Hitherto the impression was. that' the Dominions might have'unduly to ,press their nr.tgumeuts for the declaration of a Jong"vf term British monetary policy, calculated to restore prices, instead of trust- ; ing to the existing factors. ■ • : The negotiations,;'; therefore; are still at a. most delicate stage, in view of their worldwide effect, which’ would be instantaneous, , -• ■ The Britishers; to-mfirrow, will con* > tlnue their “business” discussions with ,the Dominion delegations in anticipation 1 of-' early-declarations, of policy" towards the requests made for ; preferences.' ' , ‘ ‘ Meat still represents, the, most 'formidable problem. All British delegates were present at Ottawa,/ to-night, participating in the currency round table conference;

N.Z.-AUSTRAL|AN NEGOTIATIONS. ENGLAND AND CANADA. OTTAWA, August 7. Mr Bryce and Mr Coates say that their respective negotiations with BriI tain have..proceeded excellently. / The indications from the present position are that the Australian ne"o- ---■ 1 Nations with Britain have gone to the farthest point. Then came those of India. New Zealand and South Africa, ; with Canada last. ■ J \ Tt must not he construed, however, / that, there ..is, likely to. be a serious j[ hitch., Ifc must not be thought that Canada is holding up the Conference. Canada was certainly late ip formulating her programme, but the suggestion that Brita’n lias insisted that Canada's proposals did, not jepresent a fair bus-; ine®s deal'are very far from' fact, aI)W... i hough it i.s understood, nnthoritativer\. lv, that Capadrt’s proposed concessions 1 to Britain do represent the maximum that she considers that sbe\cnn give. Her negotiations are n. backward stage, and they may yet involve important modifications. "There is every hope ■ of a thorough understanding within the' next few days, if not hours.- A ■ -• ,

NEW ZEALAND DELEGATION. ENTERTAINED Af LUNCHEON. OTTAAVA; ’ Angust 7. >/ lord Elibank presided' at/ a; luncheon riven by the British Chambers 'of Commerce in honour of Mess'-s "Cortes i""* Stewart, ifi 'View of the fact that the conference of the 163rd Empire Chamber of Commerce is being held at, Wellington in October, 1933, and nearly two .hundred delegates will be present, who will later visit Australia. Mr Coates said that the New Zealand conference would be a Parliament of business men whose recommendations and conclusions would have the widest respect and: consideration. While comrelled to be reticent about details of the progress of the .present conference, he would sav; with more-confidence today thart when the conference opened, jhot TVini-n-trade would be substantially benefited. " . He said: ‘‘l admire the practical, businesslike way in the debn 4. gate? are stating the position and dismissing their countries’ difficulties. Ibis frankness can be misuntWstopC ■'bv those who wish to misunderstand and misrepresent us. -but it is the only wav’/to' go-about the business. and Ot+eWa. is n biisin.'’®? conference.’’ Mr Coates is discussing the possibilities of enlargin'* trade with Tndia. Mr Stewart ;and, Mr Stevens are reviewing the?., working of the recent treaty between Canada and New /e»-j-r,d sr r Coates lunched .at Government House.-, - ’•