CUSTOMS DUTIES

Hokitika Guardian, 19 June 1933, Page 5

CUSTOMS DUTIES

REDUCTION URGED V, ' 1 ’ BY U.S. DELEGATES AT LONDON. (.United Press Association —By JUleetm leic^apn—L/opyrigAt.i k*, -,b •• LONDON, June 18. ) The American aeiegacums - seggest- ' ed agenua ror the iteuiionuc commission proposes ten per cent, redactions on xiupGiT duties as ir»m done I Z, including a corresponding reduction in tne surtaxes, and ais'o .a. corresponding lioeraiisatipn-ot. tile other import reatrictions, and the equitable operation J. oi the import quotas. " ‘ it also proposes the extension of t.. 0 . customs truce tor a Sufficiently long term after the close of the (Jon.erence to enable a stable basis to be had for t-lip developing of international trade adjustments by means of bilateral negotiations or otherwise. ~4 ~ The committee of tlie monetary and financial commission of the World Conference this afternoon decided to recommend to the plenary commission on Monday the creation of two subcommittees, one din. an immediate measure of financial reconstruction, and the other on permanent measures for the re-establishment of an international monetary standard. The first sub-committee will consider the following questions; Credit policy, price levels, limitation of currency fluctuations, exchange control, propiems of indebtedness and the resumption 6t lending. The second sub-committee will consider the functions of the central banks, the co-ordination of their policies, monetary reserves, and silver. Mr Cox welcomed the * unanimous agreement of Herr Kienbock and tho chairman, to invite tlie president of the Bank of International 11 Settlements, Mr Leon Fraser, and representatives of the financial committee of the League of Nations, now in London, to co-operate with the committee.

TARIFF TRUCE SIGNATORIES. * ' •“ .v’ * • RUGBY,) June 16. It is announced 'that forty-one nations have now signified their adhesion to the temporary tariff, truce. These nations represent among'them approximately 80 per cent, of the. trade of the world. LIMITATION OF OUTPUT. • ‘ LONDON, June 16. The “Daily Telegraph,” in an editorial, 'says: “Mr Forbes’ reluctance •to agree to' 'of exports or production, is natural, but Emulation is in , the ...very air.’\in our nines.” 'Mi WHEAT COUNTRIE.S ASSISTING, LONDON, June 16, A further meeting of the wheat countries in the morning led to a story than an agreement for curtailment of acreage had been reached, but the report was unjustified. Australia is still hostile, and in any case the conversations were, merely preliminary. DOMINION DELEGATES ASSIST. LONDON, June 16. The Dominion and British delegates held a long meeting, which Mr Bruce, Mr Forbes* General Smuts and Mr Bennett attended and discussed policies. The committees con J erred in connection with the voting proposals which several nations are submitting at the week-end as resolutions for the committee debates.

GARDEN PARTY AT WINDSOR. LONDON, June 17. Brilliant., scenes were witnessed at Windsor CVistle, at Their Majesties' garden party, two thousand guests being present, representating sixty-six nations, including the delegates to the Conference. This was the first garden party at Windsor for twenty years Their Majesties were attended by the Duke and Duchess of York, the Princess Royal and Lord Harewood, the Duke of Gloucester, and Prince George. Under a scarlet and goldIndian durban tent, they received the chifef delegates, who were presented by their ambassadors, while the High Commissioners introduced the Dominion representatives. CONFERENCE WORK SUSPENDED. (Received this day at 8.45 a.m.i , LONDON, June 18. All the Conference work,has virtually been suspended for the;•delegates to visit Windsor. / Regarding. ‘Monday’s, meeting, the wheat producing countries hope for t. restriction of acreage by the Argeui tina has yet been forsaken. The Australian opposition is mainly on the grounds- that they’ are; not. responsible for the slump, but the United States and Canadian carryovers, the uncertain quality of which indisputably deadens the market, has hitherto depreciated Australian values. Exchanges were not specifically mentioned in the monetary discussions, but there were numerous inquiries how they were affected b.v any measure of stabilisation. Dr. Hugen -brg has gone to Berlin. -- TJ P denies the reports of disagreement f with the delegation and that he will probably resign from the Hitler Government,