COMMITTEES SET UP

Hokitika Guardian, 19 June 1933, Page 6

COMMITTEES SET UP

QUESTIONS FOR CONSIDERATION

(British Official Wireless.)

RUGBY, June 16.

The committee of the 'Monetary ,a,nd Financial Commission 'of the World Conference this afternoon decided to. recommend to the Plenary Commission on Monday the creation of two subcommittees, one on an immediate m-.us.ure of financial reconstruction, and the other on permanent t measures for the re-establishment of an international monetary standard. The first siilHjommittee will consider the following questions : Credit policy, price levels, limitation of currency fluctuations, exchange control, problems of indebtedness and the .'resumption of lending. ( ... The second s ub-committee will cpnsider the functions of the central banks, the co-ordination of their poliies, monetary reserves and silver.

tMr Oox welcomed the unanimous agreement reached as a happy augury. The committee also decided, on the suggestion of Herr Kionbock and the Oha.jman to invite the President of the Rank of International Settlements, Mr Leon Fraser, .and representatives of the Financial Committee of the League of Nation©, now in London, to co-operate with the committtee. TARIFF TRUCE. 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. MR CHAMBERLAIN’S ADVICE. RUGBY, June 16. . Mr Neville Chamberlain, in la letter to the secretary of the London Stock Exchange :and to leading brinks and financial houses, gays that th's country is not, in his judgment, at present in a position to invest large sums at long term in foreign countries, and he requests those to whom his appeal is addressed to assist him in discouraging such transactions.