LONDON MEETINGS

Hokitika Guardian, 23 June 1933, Page 5

LONDON MEETINGS

CREDIT AND TRADE

CONTINUATION OF CONFERENCE

.United Press Association —By £F 'trie Telegraph—Copyright.) RUGBY, June 21. The work of the World Conference continued to-day, >u the economic commission' and in two .sub-commit-tees of the monetary commission. The proposals advanced in the first sub-committee bv Mr Cbxmber]afn .were supported in speeches by several delegates, including M. Bonnet, who suggested the propos is should be considered by a special subcommittee instructed to bring back a definite recommendation « s early ®s possible. He added that while it was necessary to • discipline production they must also fry to increase concumpt:o,n and thus end the terrible paradox of mankind starving in the face of plenty. Bo agreed that a policy of cheap money made available in each country at the lowest rates which the circumstances of the loan would permit, was essential. Operation s in the open market must be most carefully 'Considered by technical ex-

perts. The Italian, Professor Bendueo, while in general agreement, urged •'for .<& liberal credit policy. To have thw desired •;effect upon prices it should not precede the demand for credit, otherwise there w:s a danger of the volume of availabV credit V in or 'diverted to speculative transactions, which might produce a period bf airtilicia) prosperity, liable t 0 be followed by another crisis.

BRITISH TARIFFS ATTACKED. COMMENT IN HOUSE OF LORDS. LONDON, June 22. In the 'House of Lords. Lord 'Stanhope, replying to a,n attack on the Government’s tariffs by Lord .Arnold ,and Lord Ponsonby. said; “Without these tariffs it would have been impossible to adjust our trade balance, and the people of Britain would have been faced with starvation.” He said the tariffs were on'v a par f of the Government’s policy. They had prtJe.svoure.d to get free trade throughout the world, and they felt that now had , 3| bargaining weapon. "It would h'-'"- been I moos&ible do see this world’s economic ' conference without the imposition of the-British tariffs, ho said. “When we wore a free durnp.ng ground, the foreign nations were content. When They realised f.hat they had been shut out of the British market. they thought it worth while to confer, and to sec if something could be done to improve the trade, credit and exchange position.”

WHEAT COUNTRIES TO CONFER. LONDON, June 22. •Wf'Ln. Austiwli’. Canada, India, Argentina- £ nd Soviet 'Russia will bo among the countries to be represented on a committee appointed by the Economic Commission to examine plans flor- the ro-ordinat : ng of mnrket'ntr and production. This .committee will ultimately deal with the question of raising wheat prices.

JAPAN AND TARIFF TRUCE. TOIvTO, June 21. The Cabinet deo'ded to agree- with the tariff tmce proposals, subiect .to reservations enabling retaliation against o’!her nations adopting discriminatory trade measures. \i AC SUPPRESSION OF ORIGIN MARKS(Received this day at. 10.25 a.m.) LONDON, June 22. The) German delegation supported UoVnn. Dutch and flzedio-S’ovakian proposal for international agreement for the suppression of marks of origin, which they consider to be the real impediment dm international trade. M. Colijn announced the appo-nt-rne-t of a sub-committee to deal wdli direct and indirect bounties and subsidies, particularly to shipping.