TARIFF TRUCE

Hokitika Guardian, 15 June 1933, Page 5

TARIFF TRUCE

DURING meeting LEADING STATESMEN’S SPEECHES I (United I’J'ees Association—By Electric TeJ eg rap 11— Copyright.) Julie. 15 at 9.30 n.m.) LONDON, June 14. A Conference between Mr MacDonald and nineteen states, the majority played an important part in wend economy, agreed to a tariffs truce for the duration of the Conference. He a.niestly appealed to all States to give adherence to the truce by Friday, which will be a good a'ngury for the work of the Conference. M. Hymans (Belgian delegate), wias appointed vice-president. In a sunny morning, the session began. There. was a buzz of expectancy with the announcement of speeches by Dollfusp, Chamberlain, and Litvinoff.

Most of the glamour was centred on the diminutive boyish Austrian Chancellor, who wag beset with a tense home anti-Nazi situation, where for an aeroplane was waiting at Croydon to whisk him to Vienna to-day. His Speech' was a model of gravity. Ho plumped heavily for a reduction of wheat production'' as a check on price depreciation. Mr Chamberlain's thirty-five minute survey caused an excellent impression with detailed suggestions based on the uplifting of price levels after the final settlement of the war debts. STABILISATION OF CURRENCIES. CENTRAL BANK CO-OPERATION. (Received June 15 iat 9.55 a.m.) J/ONDON, June 14. :

Addressing the Conference Herr Dolfuss said that the Conference would certainly contribute a great deal towards the settlement of the debt problem if it could call into being a necessary negotiating body. A method of co-operation between the central banks should be adopted a.s a regular institution by the Conference with a view to the stabilisation and maintenance of stability in currencies. He wins pleased to announce Austria’p agreement to the tariff truce. Air Neville Chamberlain said that there was a close connection between the monetary and economic aspects of our problem. Action in these spheres must be taken simultaneously. Any attempt to obtain equilibrium by a further large reduction in costs will be attended by intolerable suffering without liooe of success. The solution of the difficulties must he found by recovering the price level, and the immediate aim of the monetary policy should he the stabilisation of currency, and its ultimate aim at the restoration of a (satisfactory international standard for which gold nee ms moßt generally acceptable, We - attach the greatest importance to the abolition cf exchange restrictions, and hope that the Conference will take positive action to secure this end. Herr Dolfuss thrice conferred with Sir John Simon and M. Daladier this morning asking the major powers’ influence with Germany in connection with the Austro-German crisis, It is understood that Britain and others have informally approached Germany, Herr Dolfuss, immediately after the speech, shot off to Vienna m his oiui powerful aeronlane.