STABILITY

Hokitika Guardian, 20 June 1933, Page 6

STABILITY

SUB COMMITTEE’S REPORT

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

1 (Received this day at 12.15 a.m.)

LONDON. June 19.

Mr Pittman .submitted a draft resolution on stability -to the gubi committee in favour of nations assum--1 j (1 g the obligation to vapidly bring about stability by the re-establisbmc.it of the gold standard, confining gold to covering circulation and settling of international balances. This will entail the withdrawal of gold coin and bullion from circulation 1 , and the establishment of a leg il minimum of gold cover ; , also the remonetisation of silver.

Xj! the course of an interview, Mr Pittman said the resolution meant time governments employ gold as a measui,j„g r od of international exchange. Countries adopting the gold reserve to secure currency, might carry part thereof in silver.

Mir Cousins said as a novice in international pol’tics he was acting a, human sponge. What lie absorbed seemed to indicate that the nations had not suffered sufficeiiwy to meet a complete Cmmility. They must be humbler behove hoping to .reach fl n agreement. Unfortunate y, most na ion's wore cock? ■about nationalism and thought they could paddle their own canoes. However, the Conference had resulted ami the American delegates must soon decide, between a. nationalist and an i n_ tei‘nationalist> policy.